EarningsQ2 2026 Earnings Report
MX:HSY Q2 2026 EPS Results
Actual EPS$34.99
Consensus EPS$26.26
Beat/MissBeat by +$8.73
One Year Ago EPS$22.28
MX:HSY Q2 2026 Revenue Results
Actual Revenue$51.33B
Expected Revenue$48.49B
Beat/MissBeat by +$2.83B
YoY Revenue Growth+6.60%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeBefore Open
Conference CallThursday, July 30, 2026
MX:HSY Upcoming Earnings
The Hershey Company's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:HSY Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call balanced strong demand signals, better-than-expected elasticities, commodity tailwinds (cocoa deflation visibility), productivity gains and targeted innovation against near-term supply-chain constraints, elevated freight/logistics costs and modestly reduced gross margin guidance. Management portrayed confidence in hitting longer-term framework and emphasized that many headwinds are being addressed via investments and hedging, while remaining prudent on back-half guidance.Company Guidance
Underlying Consumption Strength
Reported U.S. confection retail consumption was about +3% in the quarter, but management said this understated real demand by roughly 2 percentage points (implying underlying demand ~5%), aided by non-measured channel growth and retail inventory replenishment.
Elasticity and Volume Momentum
Management noted pricing elasticities are running in line with or slightly better than full-year assumptions, supporting expectations for gradual volume recovery into the back half of 2026 and into 2027.
Productivity and Margin Tailwind in Back Half
Company expects a significant lift in gross margin in the second half driven by commodity tailwinds and productivity; full-year gross margin improvement guidance remains around +400 basis points year-over-year, now described as 'just below' that level.
Dotted Brand Growth and Capacity Investments
Dots brand is a strong growth driver with robust consumer demand; management is addressing prior manufacturing growing pains with automation and capacity investments coming online in 2027, and said the supply issues are 'largely behind us.'
Cocoa Cost Visibility and Hedging Flexibility
Management indicated good visibility to cocoa deflation into 2027, noting healthier inventories and diversified supply; hedging strategies provide flexibility to participate in further deflation, which supports margin outlook.
International Top-Line Momentum
International markets showed pockets of strength (Brazil, U.K., India) with good top-line momentum despite near-term margin pressure; management plans optimization work to improve long‑term profitability.
Timing & Inventory Replenishment Benefits
Retail inventory replenishment after pricing transitions contributed an additional ~1 point of growth, and a minor pull-forward of merchandising shipments into Q2 (just over 1 point) was largely expected and will be neutralized by an extra shipping day in Q4.
ANC Expense and Programming Investment Management
ANC (marketing) expense declined ~3% in the quarter due to timing; management expects continued targeted reinvestment in back-half programming (holiday, Hershey movie, innovations) to drive future growth.
MX:HSY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed