Q4 2025 Hershey Co Earnings Call Transcript
Key Points
- The Hershey Co (HSY) anticipates 4% to 5% net sales growth and meaningful earnings recovery in 2026.
- The company reported 18% growth in its snack business in Q4, driven by double-digit volume growth.
- Elasticities are coming in more favorably than anticipated, providing potential upside to the company's outlook.
- The Hershey Co (HSY) is making significant investments in marketing, innovation, and R&D to drive future growth.
- The company has a strong hedging program in place for 2026, providing some protection against cocoa price volatility.
- Cocoa cost inflation remains a challenge, with pricing in 2025 not fully covering these costs for 2026.
- The company faces potential pricing pressure due to deflationary momentum in cocoa prices.
- There are macroeconomic headwinds, including SNAP changes and GLP-1 impacts, that could affect consumer behavior.
- The international segment is expected to see low single-digit sales growth, with some volume impact from pricing actions.
- The company anticipates margin and earnings pressure in Q1 2026 due to higher cost inventory and tariffs.
Greetings, and welcome to the Hershey Company fourth-quarter 2025 question-and-answer session. (Operator Instructions) As a reminder, this conference is being recorded. I'd now like to turn the call over to your host, Anoori Naughton, Vice President of Investor Relations for The Hershey Company. Thank you. You may begin.
Good morning, everyone. Thank you for joining us today for The Hershey Company's fourth-quarter 2025 earnings Q&A session. I hope everyone has had the chance to read our press release and listen to our prerecorded management remarks both of which are available on our website. In addition, we have posted a transcript of the prerecorded remarks. At the conclusion of today's live Q&A session, we will also post a transcript and audio replay of this call.
Please note that during today's Q&A session, we may make forward-looking statements that are subject to various risks and uncertainties. These statements include expectations and assumptions regarding the
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