Hershey Reports Second-Quarter 2026 Financial Results

The Hershey Company (NYSE: HSY ) today announced net sales and earnings for the second quarter ended June 28, 2026 and updated its 2026 sales and earnings outlook. "We delivered a strong first half, with reported net sales up 8.7%, organic net sales up 5.8% and meaningful earnings recovery. We enter the second half with momentum, compelling growth plans, and increased investment behind our brands, merchandising, and innovation. With cost visibility and operating flexibility, we are well positioned to navigate dynamic markets and deliver on our full-year financial commitments," said Kirk Tanner, The Hershey Company President and Chief Executive Officer.

Second-Quarter 2026 Financial Results Summary 1 Consolidated net sales of $2,787.3 million, an increase of 6.6%. Organic, constant currency net sales increased 3.6%. Reported net income of $457.7 million, or $2.26 per share-diluted, an increase of 629.0%. Adjusted earnings per share-diluted of $1.90, an increase of 57.0%. Six Months Ended 2026 Financial Results Summary 2 Consolidated net sales of $5,891.5 million, an increase of 8.7%. Organic, constant currency net sales increased 5.8%. Reported net income of $892.8 million, or $4.39 per share-diluted, an increase of 211.3%. Adjusted earnings per share-diluted of $4.25, an increase of 28.4%. 1 All comparisons for the second quarter of 2026 are with respect to the second quarter ended June 29, 2025 2 All comparisons for the six months ended 2026 are with respect to the six months ended June 29, 2025

2026 Full-Year Financial Outlook The Company is narrowing its net sales growth, organic net sales growth, reported earnings per share and adjusted earnings per share outlook for the year. This outlook does not include potential future tariff rebates. 2026 Full-Year Outlook Prior Guidance Current Guidance Net sales growth* 4% to 5% 4.5% to 5% Organic net sales growth 2.5% to 3.5% 3% to 3.5% Reported earnings per share growth 79% to 89% 82% to 89% Adjusted earnings per share growth 30% to 35% 32.5% to 35% *Reflects an approximately 150 basis point benefit from the 2025 acquisition of LesserEvil The Company also expects: A reported and adjusted effective tax rate in the range of approximately 25% to 27%; Other expense, which primarily reflects periodic benefit costs relating to pension and other post-retirement benefit plans, of approximately $10 million; Interest expense of approximately $200 million to $210 million; Capital expenditures in the range of approximately $425 million to $475 million; and Advancing Agility & Automation Initiative savings of approximately $100 million. Below is a reconciliation of current projected 2026 and full-year 2025 earnings per share-diluted calculated in accordance with U.S. generally accepted accounting principles (GAAP) to non-GAAP adjusted earnings per share-diluted: 2026 (Projected) 2025 Reported EPS – Diluted $7.89 - $8.17 $4.34 Derivative Mark-to-Market Losses — $2.08 Business Realignment Activities 0.30 - 0.35 $0.29 Acquisition and Integration-Related Activities 0.18 - 0.25 $0.20 Long-Lived Asset Impairment Charges — $0.03 Tax Effect of All Adjustments Reflected Above $(0.13) $(0.63) Adjusted EPS – Diluted $8.36 - $8.52 $6.31 Adjusted 2026 projected earnings per share-diluted, as presented above, does not include the impact of mark-to-market gains and losses on our commodity derivative contracts that are reflected within corporate unallocated expense in segment results until the related inventory is sold since we are not able to forecast the impact of the market changes.

Second-Quarter 2026 Components of Net Sales Growth A reconciliation between reported net sales growth rates and organic, constant currency net sales growth rates, along with the contribution from net price realization and volume, is provided below: Three Months Ended June 28, 2026 Percentage Change as Reported Impact of Foreign Currency Exchange Percentage Change on Constant Currency...