Hershey 4Q results surpass market expectations with 2021 profit forecast

Robust demand for Hershey’s favorite treats, together with Twizzlers, S’mores and Sweet Dish, in the course of the coronavirus pandemic and up to date value will increase on some merchandise has led to revenue and gross sales forecasts for 2021 above market expectations, the corporate introduced on Thursday, Four February.

  • Hershey tasks 2021 internet gross sales to develop by 2% to 4%, in contrast with analysts’ common estimate of a 2.94% rise.
  • It additionally expects full-year earnings per share to develop by 6% to eight%, whereas analysts on common count on an increase of 5.73%.

Michele Buck, The Hershey Firm President and Chief Government Officer, mentioned: “2020 was a yr of sudden challenges and hardship, but in addition one which introduced alternative, resilience and compassion. We’re proud to be an necessary a part of consolation and connection in folks’s lives. Our portfolio of beloved manufacturers stays extraordinarily related with customers, and our devoted staff, advantaged capabilities and operational excellence allowed us to assist create many moments of goodness for them throughout these unprecedented occasions​.”

North America (US and Canada)

Hershey’s North America phase internet gross sales have been $1,973.9m within the fourth quarter of 2020, a rise of 8.9% versus the identical interval final yr. Quantity contributed 7.9 factors, pushed by sturdy seasonal efficiency. 

We delivered a robust quarter with continued share positive aspects and quantity development to complete the yr. Whereas the influence of key exterior components on our enterprise stays unsure, we have now good momentum going into 2021 with visibility into a robust begin to the yr. We anticipate we’ll ship one other yr of balanced gross sales and earnings development in 202​1,” mentioned Buck.

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