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Hershey closes out one of the strongest years ever

Revenue 2022 at $10.4 billion up 16.1 percent and sales up 12 percent

Hershey Company, one of the world's chocolate giants, today announced its results for the fourth quarter and full year 2022 ended Dec. 31. Just a few items suffice to highlight that we are talking about a record year, closed with consolidated net sales of over $ 10.4 billion, an increase of 16.1 percent and sales up 12 percent. Net Income is over $1.64 billion, up 12% from 2021.

"In 2022, The Hershey Company achieved one of the strongest years in its history, despite record inflation, ongoing supply chain disruptions, and macroeconomic uncertainty for many consumers -emphasizes Michele Buck, president and ceo of The Hershey Company-. We expect to deliver another year of strong sales and earnings growth in 2023 as we invest in our extraordinary portfolio of brands, additional capacity, and expertise".

Also competitive are the results from the fourth quarter, which closed with consolidated net sales of more than $ 2.65 billion, up 14 percent from the fourth quarter of 2021: sales were up 10.7 percent and profit was $396.3 million, or $ 1.92 per share, up 18.5 percent from twelve months earlier.

For 2023, an official statement explains, the Kisses chocolates and Jolly Rancher lollipops company "expects net sales growth between 6 percent and 8 percent, driven mainly by net price realization as consumer demand remains stable in the face of higher advertising levels and increased production capacity. Sales growth and gross margin expansion are expected to more than offset increased brand, capacity and technology investment, as well as higher pension and interest expenses, to drive projected earnings per share from 11 percent to 15 percent and adjusted earnings per share from 9 percent to 11 percent."

"We believe that snack and candy trends will continue to outperform other food categories -Buck adds-. We also believe that our planned increases in advertising levels, supported by increased production capacity, should further support Hershey's growth and help offset price elasticity".

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EFA News - European Food Agency