synopsis

Similar to peer Mondelez, Hershey is maintaining its full-year forecast.

The Hershey Co (HSY) on Thursday reported first-quarter results that were ahead of expectations and said it expects $15 million to $20 million in tariff-related expenses in the current quarter.

Shares ended flat and gained slightly in extended trading.

The producer of Kit Kat and Reese reiterated its full-year guidance, where it expects adjusted earnings per share to decline in the mid-30% range.

"Consumption in the quarter exceeded our expectations in both U.S. Candy, Mint, and Gum and Salty Snacks, driven by the strength of seasons, sweets, Dot's and SkinnyPop," Michele Buck, Hershey president and CEO, said while noting "heightened cost pressure" in the business.

The company said its outlook factors in current and anticipated tariff costs but does not account for potential future tariffs.

Peer Mondelez, which reported results on Wednesday, also kept its full-year guidance while flagging tariff uncertainty.  

For the quarter ended March, Hershey's net sales declined 13.8% to $2.81 billion, smaller than a 14.1% decline analysts polled by LSEG/Reuters had estimated.

On an adjusted basis, profit was $2.09 per share compared with estimates of $1.95.

The company said it benefited from price hikes for its products, as well as lower advertising and marketing expenses.

On Stocktwits, the retail sentiment dropped to 'bullish' from 'extremely bullish', while message volume rose to 'extremely high'.

HSY sentiment and message volume as of May 1 | Source: Stocktwits

Hershey stock is 1.3% year to date.

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