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Hershey Co (HSY) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Hershey Co

CIK: 47111 Ticker: HSY


Exhibit 99.1
thehersheycompanylogojulya09.jpg
FINANCIAL CONTACT:
 
 
 
MEDIA CONTACT:
Melissa Poole
 
 
 
Jeff Beckman
717-534-7556
 
 
 
717-534-8090

Hershey Reports Third-Quarter 2018 Financial Results
Reaffirms 2018 Reported Net Sales and Adjusted Earnings Outlook

HERSHEY, Pa., October 25, 2018
- The Hershey Company (NYSE: HSY) today announced sales and earnings for the third quarter ended September 30, 2018 and reaffirmed its 2018 reported net sales and adjusted earnings outlook.

“We remain on track to achieve the financial targets we shared earlier this year, and I am pleased with the progress we are making against our key strategic focus areas,” said Michele Buck, The Hershey Company President and Chief Executive Officer. “Our U.S. core confection retail takeaway and share trends are sequentially improving, in line with our expectations driven by strong Halloween results and distribution gains on core items. The addition of Pirate Brands strengthens our brand portfolio and marks our second high-growth, high-margin acquisition this year to capture incremental snacking occasions. Our International business continues to deliver profitability improvements while driving strong constant currency organic sales growth. Importantly, we are achieving these results while staying true to our values and purpose, as evidenced by being named to the Dow Jones Sustainability World Index for the 6th consecutive year.”

Third Quarter 2018 Financial Results Summary 1 
Consolidated net sales of $2,079.6 million, an increase of 2.3%.
Constant currency net sales growth of 3.0%, with a 0.7 point headwind from foreign currency exchange.
The net impact of acquisitions and divestitures was a 2.5 point benefit to net sales growth.
Reported net income of $263.7 million, or $1.25 per share-diluted.
Adjusted earnings per share-diluted of $1.55, an increase of 20.2%.
1 All comparisons for the third quarter of 2018 are with respect to the third quarter ended October 1, 2017

1

The following information was filed by Hershey Co (HSY) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Hershey Co's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Stockholders' Equity
Consolidated Statements Of Stockholders' Equity (Parenthetical)
- Schedule Of Basic And Diluted Earnings Per Share (Details)
- Schedule Of Depreciation And Amortization Expense Included Within Segment Income (Details)
- Schedule Of Net Sales And Earnings By Segment (Details)
- Schedule Of Supplemental Balance Sheet Information (Details)
- Segment Information Narrative (Details)
Assets Held For Sale Assets Held For Sale (Details)
Assets Held For Sale Assets Held For Sale (Notes)
Assets Held For Sale Assets Held For Sale (Tables)
Business Acquisition
Business Acquisition (Tables)
Business Acquisition - Amplify Snack Brands, Inc. Assets Acquired And Liabilities Assumed Allocation (Details)
Business Acquisition - Amplify Snack Brands, Inc. Narrative (Details)
Business Realignment Activities
Business Realignment Activities (Tables)
Business Realignment Activities - Business Realignment Activities Narrative (Details)
Business Realignment Activities - Schedule Of Business Realignment Activity (Details)
Business Realignment Activities - Schedule Of Liability Activity For Costs Qualifying As Exit And Disposal Costs (Details)
Contingencies
Derivative Instruments
Derivative Instruments (Tables)
Derivative Instruments - Derivative Instruments Narrative (Details)
Derivative Instruments - Schedule Of The Classification Of Derivative Assets And Liabilities Within The Consolidated Balance Sheets (Details)
Derivative Instruments - Schedule Of The Effect Of Derivative Instruments On The Consolidated Statements Of Income (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Earnings Per Share Narrative (Details)
Fair Value Measurements - Fair Value Measurements Narrative (Details)
Fair Value Measurements - Schedule Of Assets And Liabilities Measured At Fair Value (Details)
Fair Value Measurements - Schedule Of Fair Values And Carrying Values Of Long-Term Debt (Details)
Fair Value Measurements Fair Value Measurements
Fair Value Measurements Fair Value Measurements (Tables)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Goodwill And Intangible Assets Narrative (Details)
Goodwill And Intangible Assets - Schedule Of Changes In Carrying Value Of Goodwill By Reportable Segment (Details)
Goodwill And Intangible Assets - Schedule Of Gross Carrying Amount And Accumulated Amortization For Each Major Class Of Intangible Asset (Details)
Income Taxes
Income Taxes - Income Taxes Narrative (Details)
Noncontrolling Interest - Noncontrolling Interest Narrative (Details)
Noncontrolling Interest - Schedule Of Activity Relating To The Noncontrolling Interest (Details)
Noncontrolling Interest Noncontrolling Interest (Notes)
Noncontrolling Interest Noncontrolling Interest (Tables)
Other (Income) Expense, Net - Schedule Of Other (Income) And Expense, Net (Details)
Other (Income) Expense, Net Other (Income) Expense, Net
Other (Income) Expense, Net Other (Income) Expense, Net (Tables)
Pension And Other Post-Retirement Benefit Plans
Pension And Other Post-Retirement Benefit Plans (Tables)
Pension And Other Post-Retirement Benefit Plans - Pension And Other Post-Retirement Benefit Plans Narrative (Details)
Pension And Other Post-Retirement Benefit Plans - Schedule Of Components Of Net Periodic Benefit Cost (Details)
Segment Information
Segment Information (Tables)
Segment Information - Schedule Of Unallocated Mark-To-Market (Gains) Losses On Commodity Derivatives (Details)
Short And Long-Term Debt
Short And Long-Term Debt (Tables)
Short And Long-Term Debt - Long Term Debt Interest Rates (Details)
Short And Long-Term Debt - Schedule Of Long-Term Debt Instruments (Details)
Short And Long-Term Debt - Schedule Of Net Interest Expense (Details)
Short And Long-Term Debt - Short-Term Debt Narrative (Details)
Stock Compensation Plans
Stock Compensation Plans (Tables)
Stock Compensation Plans - Schedule Of Compensation Expense And Income Tax Benefits For Stock-Based Compensation Programs (Details)
Stock Compensation Plans - Schedule Of Fair Value Weighted-Average Assumptions (Details)
Stock Compensation Plans - Schedule Of Psus And Rsus Activity (Details)
Stock Compensation Plans - Schedule Of Psus And Rsus Fair Value Weighted-Average Assumptions (Details)
Stock Compensation Plans - Schedule Of Stock Option Activity (Details)
Stock Compensation Plans - Stock Compensation Plans Narrative (Details)
Subsequent Event - Subsequent Event Narrative (Details)
Subsequent Event Subsequent Event (Notes)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Recent Accounting Pronouncements (Details)
Supplemental Balance Sheet Information
Supplemental Balance Sheet Information (Tables)
Treasury Stock Activity - Schedule Of Treasury Stock Activity (Details)
Treasury Stock Activity - Treasury Stock Activity Narrative (Details)
Treasury Stock Activity Treasury Stock Activity
Treasury Stock Activity Treasury Stock Activity (Tables)
Ticker: HSY
CIK: 47111
Form Type: 10-Q Quarterly Report
Accession Number: 0000047111-18-000049
Submitted to the SEC: Fri Oct 26 2018 11:44:59 AM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Sunday, September 30, 2018
Industry: Sugar And Confectionery Products

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