Sales from the acquisitions of Dot's . for the periods ended October2, 2022 and October3, 2021, (unaudited) (in thousands except percentages and per share amounts), Selling, marketing and administrative expense, Net income including noncontrolling interest, Less: Net gain attributable to noncontrolling interest, Net income attributable to The Hershey Company, Supplementary Information Segment Results, (unaudited) (in thousands except percentages), Unallocated mark-to-market losses (gains) on commodity derivatives (2), Costs associated with business realignment initiatives. The following table presents a summary of items impacting comparability in each period (see Appendix I for additional information): Noncontrolling interest share of businessrealignment and impairment charges. Volume drove an incremental 4.6-point benefit driven by the replenishment of distributor inventory levels in the North America Confectionery segment as well as favorable price elasticities. Unfavorable mix, driven by recent acquisitions and the accelerated growth of the North America Salty Snacks segment, also contributed to this offset. It expects adjusted profit per share to grow by 14% to 15%, against the prior forecast of 12% to 14%. This website is powered by SportsEngine's Sports Relationship Management (SRM) software, but is owned . Organic, constant currency net. Majority 6.0 results; Events Segments; 001 Pre-Preliminary Girls FS - Group A: Free Skating : 002 Pre-Preliminary Girls FS - Group B: Free Skating : 003 Pre-Preliminary Girls FS - Group C: Free Skating : 004 Preliminary Boys FS: Free Skating : 005 Excel Beginner Boys FS: Free Skating : 006 Excel High Beginner Boys: Free Skating : 007 No Test Boys FS: Free Skating Price realization and volume growth across segments, combined with a timing benefit related to the inventory valuation method and fixed cost leverage, more than offset broad-based inflation; higher supply chain costs, including investments in labor; and increased amortization and costs related to recent acquisitions to drive operating margin expansion in the first quarter. Broad-based supply chain inflation also led to higher raw material and logistics costs. Hershey's U.S. salty snack retail takeaway, including Dot's, in MULO+C increased 22.4% in the 12-week period ended October 2, 2022 driven by robust consumer demand. Segment performance for the first quarter of 2022 versus the prior-year period are detailed below. Net price realization was driven by mid to high single digit list price increases across the confectionery portfolio. Event Results for The Hershey Open The Hershey Open 08/09/2022 - 08/13/2022 (EDT) Excel Intermediate Plus Women (37) / Free Skate Judges' Details Excel Intermediate Plus Women (37) / Free Skate Total Total Total Place Name Nation Seg Score Elm Score Comp Score Ded 1 Caroline Caruso, Rye FSC 37.63 18.10 20.03 0.50 Deductions -0.50 Falls: -0.50 HERSHEY, Pa., April 28, 2022 /PRNewswire/ -- The Hershey Company (NYSE: HSY) today announced net sales and earnings for the first quarter ended April 3, 2022, and raised its full-year financial outlook. $25 instant refund on this event with gift card. 16 indoor tennis courts, shirt, swag bag, medals and cash payouts in 2 OPEN divisions! Reported net income of $399.5 million and $1.94 earnings per share-diluted, a decrease of 9.3%. Broad-based supply chain inflation also led to higher raw material and logistics costs. At approximately 7 a.m. (Eastern time) today, Hershey will post a pre-recorded management discussion of its third-quarter 2022 results and business update to its website at www.thehersheycompany.com/investors. Sunday, Dec. 11, and Saturday, Dec. 17, 2022 11:30 a.m. to 2:30 p.m. Details of the charges included in GAAP results, as summarized in the press release (above), are as follows: Derivative mark-to-market losses (gains): The mark-to-market losses (gains) on commodity derivatives are recorded as unallocated and excluded from adjusted results until such time as the related inventory is sold, at which time the corresponding losses (gains) are reclassified from unallocated to segment income. Price realization was a 5.8-point benefit driven by list price increases across markets. The following table presents a summary of items impacting comparability in each period (see Appendix I for additional information): Segment performance for the third quarter of 2022 versus the prior-year period are detailed below. Thank you for attending the 2022 Hershey Open and Neal Wood Memorial Open! This increase was driven by higher derivative mark-to-market gains and net price realization, partially offset by higher supply chain inflation and costs. ", Third-Quarter 2022 Financial Results Summary1. Despite higher adjusted operating profit, adjusted operating profit margin decreased by 130 basis points to 22.6%, as inflation and investment outpaced sales growth. Third-quarter 2022 netsales for Hershey's International segment increased 15.4% versus the same period last year to $217.6 million. In the Senate, Republicans held on to the open seats in Ohio and North Carolina but lost the highly publicized race in Pennsylvania, a net loss. Closed 11/08/2022. Hershey's North America Salty Snacks segment net sales were $275.0 million in the third quarter of 2022, an increase of 86.9% versus the same period last year. Reported gross margin was 46.7% in the first quarter of 2022, compared to 45.7% in the first quarter of 2021, an increase of 100 basis points. The Hershey Open 08/09/2022 - 08/13/2022 (EDT) Juvenile Girls (36) / Free Skate Judges' Details. For the first. These non-GAAP financial measures are used in evaluating results of operations for internal purposes and are not intended to replace the presentation of financial results in accordance with GAAP. Both brands benefited from consumers seeking permissibility and convenience as they return to pre-pandemic routines, benefiting multi-pack and instant consumable products with combined retail sales growth of 35.7%. Reported net income of $533.5 million and $2.57 per share-diluted, an increase of 35.3%. Since we often purchase commodity contracts to price inventory requirements in future years, we make this adjustment to facilitate the year-over-year comparison of cost of sales on a basis that matches the derivative gains and losses with the underlying economic exposure being hedged for the period. Business realignment activities: We periodically undertake restructuring and cost reduction activities as part of ongoing efforts to enhance long-term profitability. These statements are made based upon current expectations that are subject to risk and uncertainty. The profit increase was driven by volume gains, net price realization and favorable operating expenses in the prior-year period related to the operating model optimization in China, which more than offset inflation and higher logistics costs. We also need folks to become active members of our board of directors. Saturday, Aug 13, 2022, 04:19 PM Eastern Daylight Time, Excel Juvenile Girls Plus (35) / Free Skate, Excel Intermediate Plus Women (37) / Free Skate, Excel Intermediate Women (43) / Free Skate, Intermediate Women (52-70) / Short Program, Open Juvenile Girls Free Skate (59) / Free Skate, Excel Novice Women Free Skate (61) / Free Skate, 019 Pre-Preliminary Girls Compulsory Moves, 024 Excel Preliminary Girls Compulsory Moves, 026 Excel High Beginner Boys Compulsory Moves, 029 Excel High Beginner Girls CM - Group A, 030 Excel High Beginner Girls CM - Group B, 031 Excel Pre-Preliminary Girls Compulsory Moves, 032 Excel Pre-Preliminary Boys Compulsory Moves, 066 Excel Pre-Preliminary Girls FS - Group A, 067 Excel Pre-Preliminary Girls FS - Group B, 068 Excel Pre-Preliminary Girls FS - Group C, 069 Excel Pre-Preliminary Girls FS - Group D. HERSHEY, Pa., Nov. 4, 2022 /PRNewswire/ -- The Hershey Company (NYSE: HSY) today announced net sales and earnings for the third quarter ended October 2, 2022, and raised its full-year financial outlook. The Hershey Open Event Results for The Hershey Open The Hershey Open 08/09/2022 - 08/13/2022 (EDT) Intermediate Women (52-70) / Free Skate Judges' Details Intermediate Women (52-70) / Free Skate Total Total Total Place Name Nation Seg Score Elm Score Comp Score Ded 1 Cordelia Witter, Washington FSC 56.95 27.13 29.82 0.00 Deductions -0.00 These non-GAAP financial measures are used in evaluating results of operations for internal purposes and are not intended to replace the presentation of financial results in accordance with GAAP. Both the reported and adjusted effective tax rate increase were driven by higher utilization of capital losses in the prior-year period, as well as the timing of renewable energy tax credits. Two new Jolly Rancher attraction experiences that can only exist in Hersheypark and The Boardwalk At Hersheypark water park will officially open on May 28, 2022. Because actual results may differ materially from those contained in the forward-looking statements, you should not place undue reliance on the forward-looking statements when deciding whether to buy, sell or hold the company's securities. Consolidated net sales increased 15.6% to $2,728.2 million in the third quarter of 2022, including a 4.1-point benefit from the acquisitions of Pretzels and Dot's. OTHER PLACINGS. During the first quarter of 2021, we incurred costs related to the integration of the 2019 acquisition of ONE Brands, LLC. Consolidated net sales of $2,728.2 million, an increase of 15.6%. The tax effect for each adjustment is determined by calculating the tax impact of the adjustment on the company's quarterly effective tax rate, unless the nature of the item and/or the tax jurisdiction in which the item has been recorded requires application of a specific tax rate or tax treatment, in which case the tax effect of such item is estimated by applying such specific tax rate or tax treatment. Click here for the tentative winners list. "Our fast start, sustained consumer relevancy and increased visibility into our recently acquired businesses give us the confidence to increase our full-year net sales and earnings outlook despite an increasingly challenging and inflationary environment. Adjusted earnings per share-diluted of $2.53, an increase of 31.8%. Hershey Open Results. 10:30 AM - 7:00 PM. Calculated as non-GAAP operating profit as a percentage of net sales for each period presented. The Hershey Company is increasing its net sales growth and earnings-per-share outlook to reflect higher than anticipated consumer demand and favorable price elasticities across segments. Other miscellaneous losses (benefits): During 2022, we recorded a loss on the sale of non-operating assets located in Pennsylvania. 1-888-562-02621-604-929-1352 www.viavid.com. As a result, the foreign currency impact is equal to the current year results in local currencies multiplied by the change in the average foreign currency exchange rate between the current fiscal period and the corresponding period of the prior fiscal year. 6th Place Zoe Mogen Pre Preliminary Excel Freeskate, 6th Place Kelly Dudonis High Beginner Excel Freeskate. +0.12%. Hershey's U.S. candy, mint and gum (CMG) retail takeaway for the 12-week period ended October 2, 2022 in the multi-outlet plus convenience store channels (MULO+C) increased 12.2%, resulting in category market share gain of 23 basis points in the period. Calculated as non-GAAP provision for income taxes as a percentage of non-GAAP income before taxes (calculated as non-GAAP operating profit minus non-GAAP interest expense, net plus or minus non-GAAP other (income) expense, net). Hershey's North America Salty Snacks segment net sales were $226.1 million in the first quarter of 2022, an increase of 86.2% versus the same period last year. Raw material, packaging and logistics inflation, labor investments, and higher supply chain costs from sustained consumer demand contributed to these declines, as well as an unfavorable mix from recent acquisitions. Price realization was a 6.8-point benefit. For the first quarter of 2021, items positively impacting comparability totaled $3.7 million, or $0.02 per share-diluted. ", First-Quarter 2022 Financial Results Summary1. First-Quarter 2022 Financial Results Summary1 Consolidated net sales of $2,666.2 million, an increase of 16.1%. Organic, constant currency net sales increased 10.7%. A reconciliation between reported net sales growth rates and (i) constant currency net sales growth rates and (ii) organic constant currency net sales growth rates is provided below: PercentageChange onConstantCurrency Basis, PercentageChange onOrganicConstantCurrency Basis. North America Salty Snacks segment income decreased 16.1% to $21.3 million in the first quarter of 2022, compared to $25.4 million in the first quarter of 2021, resulting in segment margin of 9.4%, a decrease of 11.5 points. All comparisons for the first quarter of 2022 are with respect to the first quarter ended April 4, 2021, Reflects the impact from the 2021 acquisitions of Pretzels Inc. (Pretzels), Dot's Pretzels, LLC (Dot's) and Lily's Sweets, LLC (Lily's). Both the reported and adjusted effective tax rate decreases were driven by higher renewable energy tax credits and higher benefits related to employee-shared based payments versus the prior-year period. The tax effect for each adjustment is determined by calculating the tax impact of the adjustment on the company's quarterly effective tax rate, unless the nature of the item and/or the tax jurisdiction in which the item has been recorded requires application of a specific tax rate or tax treatment, in which case the tax effect of such item is estimated by applying such specific tax rate or tax treatment. Net price realization was driven by mid to high single digit list price increases across the confectionery portfolio. The reported effective tax rate in the third quarter of 2022 was 15.6%, an increase of 90 basis points versus the third quarter of 2021. The company's first-quarter 2022 results, as prepared in accordance with GAAP, included items negatively impacting comparability of $13.1 million, or $0.04 per share-diluted. Juvenile Girls (36) / Free Skate Total Total Total; Place Name Nation Seg Score = Elm . This decrease was driven by lower accruals for incentive compensation versus the prior-year period, which was partially offset by incremental capability and technology investments. Third-quarter 2022 reported operating profit was $556.6 million, a decrease of 3.2%, resulting in an operating profit margin of 20.4%, a decrease of 400 basis points. Organic, constant currency net sales increased 11.8%. First-quarter 2022 reported operating profit of $721.0 million increased 30.4% versus the first quarter of 2021, resulting in an operating profit margin of 27.0%, an increase of 290 basis points. GOLD MEDALS. Advertising and related consumer marketing expenses increased 5.4% in the third quarter of 2022 versus the same period last year. Hershey's salty snacks growth outpaced the category resulting in 10 basis points of share gain in the 12-week period. for the periods ended April 3, 2022 and April 4, 2021, (unaudited) (in thousands except percentages and per share amounts), Selling, marketing and administrative expense, Net income including noncontrolling interest, Less: Net gain attributable to noncontrolling interest, Net income attributable to The Hershey Company, Supplementary Information Segment Results, (unaudited) (in thousands except percentages), Unallocated mark-to-market gains on commodity derivatives (2), Costs associated with business realignment initiatives. Take-home chocolate sales and accelerating sales of Jolly Rancher and Twizzlers products drove this strong everyday growth. These statements are made based upon current expectations that are subject to risk and uncertainty. Incremental profit from higher sales is expected to be partially offset by supply chain inflation and higher costs to serve incremental demand, resulting in slightly higher adjusted earnings per share growth. Includes candy, mint, gum, confectionery salty snacks and grocery items. As a result, the foreign currency impact is equal to the current year results in local currencies multiplied by the change in the average foreign currency exchange rate between the current fiscal period and the corresponding period of the prior fiscal year. In the assessment of our results, we review and discuss the following financial metrics that are derived from the reported and non-GAAP financial measures presented above: Calculated as non-GAAP gross profit as a percentage of net sales for each period presented. "Third quarter results came in ahead of our expectations, as our increased brand investments and improved supply chain helped support resilient consumer demand and drove category growth across all business segments," said Michele Buck, The Hershey Company President and Chief Executive Officer. The impact of acquisitions. To present this information for historical periods, current period net sales for entities reporting in currencies other than the U.S. dollar are translated into U.S. dollars at the average monthly exchange rates in effect during the corresponding period of the prior fiscal year, rather than at the actual average monthly exchange rates in effect during the current period of the current fiscal year. Hershey's unallocated corporate expense in the third quarter of 2022 was $171.4 million, an increase of $29.6 million, or 20.9%, versus the same period of 2021. The net impact of the acquisition from Lily's was a 1.1-point benefit. This increase was driven by higher derivative mark-to-market gains and net price realization, partially offset by higher supply chain inflation and costs. The Chocolate and White will . Note: In this release, for the first-quarter 2022, Hershey references income measures that are not in accordance with GAAP because they exclude certain items impacting comparability, including gains and losses associated with mark-to-market commodity derivatives, business realignment activities, acquisition-related activities, and other miscellaneous benefits. Therefore, we have also adjusted for the portion of these charges included within the income (loss) attributed to the noncontrolling interest. . Many of these forward-looking statements can be identified by the use of words such as "anticipate," "assume," "believe," "continue," "estimate," "expect," "forecast," "future," "intend," "plan," "potential," "predict," "project," "strategy," "target" and similar terms, and future or conditional tense verbs like "could," "may," "might," "should," "will" and "would," among others. Reconciliation of Certain Non-GAAP Financial Measures, Derivative mark-to-market losses (gains)*, Tax effect of all adjustments reflected above**. Selling, marketing and administrative expenses increased 6.0% in the first quarter of 2022 versus the first quarter of 2021 primarily driven by higher amortization and operating expenses related to recent acquisitions. North America Salty Snacks segment income increased 50.3% to $44.5 million in the third quarter of 2022, compared to $29.6 million in the third quarter of 2021. Organic, constant currency net sales increased 14.1%. September 13 - 17, 2022 Hybrid Hershey Miracle 5k Race 2022 Milton Hershey School 1201 Homestead Ln Hershey, PA 17033 Organized by Hersheys Chocolate Miracle Race Team Save up to $10 on this event with ACTIVE Advantage! Therefore, we have also adjusted for the portion of these charges included within the income (loss) attributed to the noncontrolling interest. HERSHEY, Pa The Hershey Bears, in conjunction with the American Hockey League, have released the club's 72-game regular season schedule for the 2022-23 campaign. Noncontrolling interest share of business realignment and impairment charges: Certain of the business realignment and impairment charges recorded related to the divestiture of Lotte Shanghai Foods Co., Ltd. ("LSFC"), a joint venture in which we previously owned a 50% controlling interest. Hershey's North America Confectionery segment net sales were $2,235.6 million in the third quarter of 2022, an increase of 10.4% versus the same period last year. The company is raising its 2022 net sales and earnings per share outlook to reflect the strength of its performance in the first quarter and expectations for the balance of the year: 3 The impact of the Pretzels, Dot's and Lily's acquisitions is anticipated to be a 4- to 5-point benefit to net sales growth for the full-year 2022. First-quarter 2022 net sales for Hershey's International segment increased 17.9% versus the same period last year to $223.1 million. . Adjustments reported above are reported on a pre-tax basis before the tax effect described in the reconciliation above for Non-GAAP provision for income taxes. Since we often purchase commodity contracts to price inventory requirements in future years, we make this adjustment to facilitate the year-over-year comparison of cost of sales on a basis that matches the derivative gains and losses with the underlying economic exposure being hedged for the period. Get ready for this summer's most epic tournament in PA! Net price realization was a 6.9-point benefit driven primarily by list price increases across segments. Note: In this release, for the first-quarter 2022, Hershey references income measures that are not in accordance with GAAP because they exclude certain items impacting comparability, including gains and losses associated with mark-to-market commodity derivatives, business realignment activities, acquisition-related activities, and other miscellaneous benefits. To present this information for historical periods, current period net sales for entities reporting in currencies other than the U.S. dollar are translated into U.S. dollars at the average monthly exchange rates in effect during the corresponding period of the prior fiscal year, rather than at the actual average monthly exchange rates in effect during the current period of the current fiscal year. Price realization was a 5.8-point benefit driven by list price increases across markets. Details of the charges included in GAAP results, as summarized in the press release (above), are as follows: Derivative mark-to-market (gains) losses: The mark-to-market (gains) losses on commodity derivatives are recorded as unallocated and excluded from adjusted results until such time as the related inventory is sold, at which time the corresponding (gains) losses are reclassified from unallocated to segment income. Net price realization was a 13.2-point benefit and volume was a 4.0-point benefit. The company is raising its 2022 net sales and earnings per share outlook to reflect the strength of its performance in the first quarter and expectations for the balance of the year: 3 The impact of the Pretzels, Dot's and Lily's acquisitions is anticipated to be a 4- to 5-point benefit to net sales growth for the full-year 2022. The tax effect for each adjustment is determined by calculating the tax impact of the adjustment on the company's quarterly effective tax rate, unless the nature of the item and/or the tax jurisdiction in which the item has been recorded requires application of a specific tax rate or tax treatment, in which case the tax effect of such item is estimated by applying such specific tax rate or tax treatment. SkinnyPopbrand retail sales increased 18.0%, resulting in ready-to-eat popcorn share gain of 120 basis points in the 12-week period. Organic, constant currency net. Dot's Homestyle Pretzels retail sales grew 34.2%, driven by increased distribution, new buyers and higher frequency among existing households. "We delivered strong double-digit sales and earnings growth with ongoing momentum across business units," said Michele Buck, The Hershey Company President and Chief Executive Officer. 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