Hershey Q3 FY2026: sales up 3.0%, adjusted EPS $2.64 as margins rebound
Hershey beat the $2.13 consensus with $2.64 in adjusted EPS and lifted full-year adjusted EPS growth guidance to 36.0%–38.5%. The catch is quality: price added about 11 points while volume fell about 10, and $0.22 of the quarter's EPS came from tariff refunds. Read the segments before cheering — confectionery margins soared while salty snacks and International slipped.
1 · Expected vs. Actual
Free preview belowReported EPS of $2.88 more than doubled from $1.36, and adjusted EPS of $2.64 beat the $2.13 consensus by a wide margin. Two caveats: $0.22 per share came from tariff refunds, and $113.4 million of pre-tax derivative mark-to-market gains ($0.56 per share) sat in reported results but were excluded from adjusted ones.
Net sales rose 3.0% to $3.28 billion, but only 0.8% of that came from the base business — the LesserEvil acquisition added 2.1 points and currency 0.1 points. Price realization of about 11 points did all the organic work, while volume fell about 10 points on elasticity in North America Confectionery and International.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-03
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