The Hershey Co

HSY: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HS>	LOCK\|$B?	LOCK\|V$yK?bC

Hershey Earnings: Despite Heated Cocoa Costs, Investments in Brands and Capabilities a Sound Course

Erin Lash

Jul 30, 2025

Hershey's 26.3% organic sales growth was inflated as it lapped planned inventory reductions last year after its ERP rollout and benefited from a later Easter this year. Net of these factors, sales ticked up 1.7%. But the adjusted gross margin soured 510 basis points to 38.1% on higher cocoa costs.

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The Hershey Co

Hershey Earnings: Despite Heated Cocoa Costs, Investments in Brands and Capabilities a Sound Course

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