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Sentiment · FY2026 Q2
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $2.89B | +8.7% | $3.92 | +130.6% | 54.0% | 32.5% | 27.6% | $807M |
| FY2025 Q1 | $2.81B | -13.8% | $1.10 | -71.7% | 33.7% | 13.2% | 8.0% | $251M |
| FY2025 Q2 | $2.61B | +26.0% | $0.31 | -65.2% | 30.5% | 7.4% | 2.4% | $-46M |
| FY2025 Q3 | $3.18B | +6.5% | $1.36 | -38.2% | 31.6% | 12.9% | 8.7% | $1.15B |
| FY2025 Q4 | $3.09B | +7.0% | $1.57 | -59.9% | 37.0% | 14.4% | 10.4% | $715M |
| FY2026 Q1 | $3.10B | +10.6% | $2.13 | +93.6% | 39.4% | 20.6% | 14.0% | $354M |
| FY2026 Q2 | $2.79B | +6.6% | $2.26 | +629.0% | 45.3% | 23.1% | 16.4% | $329M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Hershey delivered Q1 revenue growth of 10.7% with EPS nearly doubling year-over-year as cocoa cost normalization began driving the anticipated margin recovery. Core salty snack brands grew nearly 10% and the confection category proved resilient with high-single-digit growth, while competitive dynamics intensified with more competitors entering the shelf. Management reaffirmed FY2026 guidance of 4-5% net sales growth and 30-35% EPS growth, with Q2 gross margins expected to expand nearly 300 basis points versus prior year.
Demand | Pricing | Competitive Dynamics | Revenue Growth | Cost Pressure | Guidance Reliability | Margin | Innovation & R&D | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 10 | 8 | 7 | 6 | 7 | 3 | 4 | 3 |
| 2025Q1 | 3 | 4 | 8 | 6 | 4 | 4 | 2 | 4 |
| 2025Q2 | 4 | 7 | 4 | 6 | 2 | 4 | 4 | 1 |
| 2025Q3 | 8 | 10 | 7 | 4 | 6 | 3 | 2 | 3 |
| 2025Q4 | 7 | 8 | 5 | 3 | 5 | 6 | 5 | 4 |
| 2026Q1 | 15 | 3 | 8 | 10 | 6 | 4 | 4 | 3 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 10 | 3 | 4 | 8 | 7 | 15 |
| Pricing | 8 | 4 | 7 | 10 | 8 | 3 |
| Competitive Dynamics | 7 | 8 | 4 | 7 | 5 | 8 |
| Revenue Growth | 6 | 6 | 6 | 4 | 3 | 10 |
| Cost Pressure | 7 | 4 | 2 | 6 | 5 | 6 |
| Guidance Reliability | 3 | 4 | 4 | 3 | 6 | 4 |
| Margin | 4 | 2 | 4 | 2 | 5 | 4 |
| Innovation & R&D | 3 | 4 | 1 | 3 | 4 | 3 |
What HSY and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“we've also entered into a JV with VivaKi, which is -- has breakthrough protein delivery that we really like to see”
Hershey formed a JV with VivaKi for breakthrough protein-delivery technology to build out its functional/protein snacking platform.
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Jim Salera | Stephens | 13 (8%) |
| Andrew Lazar | Barclays | 13 (23%) |
| Max Gumport | BNP Paribas | 13 (23%) |
| Chris Carey | Wells Fargo | 13 (0%) |
| Michael Lavery | Piper Sandler | 13 (0%) |
| Peter Galbo | Bank of America | 13 (15%) |
| Leah Jordan | Goldman Sachs | 12 (0%) |
| Dave Palmer | Evercore ISI | 12 (0%) |
| Alexia Howard | Bernstein | 12 (8%) |
| Scott Marks | Jefferies | 11 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| JPMorgan | 2 | 15 (7%) |
| Wells Fargo | 1 | 13 (0%) |
| Piper Sandler | 1 | 13 (0%) |
| Barclays | 1 |
| 13 (23%) |
| Bank of America | 1 | 13 (15%) |
| Stephens | 1 | 13 (8%) |
| BNP Paribas | 1 | 13 (23%) |
| Evercore ISI | 1 | 12 (0%) |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
HSY Hershey Company (The) | 8 | +10.7% | |
| MDLZ Mondelez International | 8 | +8.2% |