Hershey Earnings: Sales and Profits Sour in Q3, but Investors Should Indulge in Its Sweet Shares

Organic sales ticked down 1% in the quarter, as a 2% benefit from higher prices was unable to offset a 3% draw down in volumes. Beyond tempered sales, heated cocoa and sugar costs took a bite out of profits, sending the adjusted gross margin down 460 basis points to 40.3%.