Hershey 10-Q: Q3 Net Income Doubles to $580.8M, Gross Margin Jumps to 46.1%
HSY is trading near its 52-week low of $156.16 (3.4% above the low).
Summary
Hershey's Q3 net income doubled to $580.8M on a 46.1% gross margin, but sales grew just 3.0% as volume fell about 10% and International swung to a $30.0M loss.
Key Events · Earnings and Guidance · HSY
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Q3 Profit More Than Doubles
Net income was $580.8M versus $276.3M a year ago; diluted EPS $2.88 versus $1.36.
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Margin Jumps on Pricing and Cocoa
Gross margin rose to 46.1% from 32.6%, helped by pricing, lower commodity costs, tariff refunds and $49.1M of favorable commodity mark-to-market.
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Volume Down About 10%
Net sales rose 3.0% to $3.28B on roughly 11% price realization, offset by a roughly 10% volume decline.
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Salty Snacks and International Weaken
Salty Snacks segment income fell 17.9% to $47.4M; International swung to a $30.0M loss from $13.6M.
Analysis · HSY · Manufacturing
Behind this morning's headline beat, the 10-Q fills in the full Q3 picture. Net income more than doubled to $580.8M from $276.3M, and gross margin expanded to 46.1% from 32.6%, driven by pricing, lower commodity costs, tariff refunds and $49.1M of favorable commodity mark-to-market. Volume is the catch: sales rose only 3.0% to $3.28B because volume fell about 10%, and the weakness is spreading — Salty Snacks segment income dropped 17.9% and International swung to a $30.0M loss. Cash fell $249.2M to $676.7M after $439.4M of buybacks and $859.2M of dividends, so the earnings recovery is not yet translating into cash accumulation.
How filings like this one have moved
In the 30 days to Oct 29, 2026, 30.9% of the 1649 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.02%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, HSY was trading at $161.42 on NYSE in the Manufacturing sector, with a market capitalization of approximately $32.4B. The 52-week trading range was $156.16 to $239.48. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.