Cocoa prices have reached their highest levels on record, just in time for one of the biggest chocolate-buying holidays of the year: Valentine’s Day.  “It’s all on the supply side,” said John Caruso, senior market strategist at RJO Futures, with cocoa up more than 110% year over year. “The chart has gone completely parabolic on a monthly scale” which is to say at the least, “very impressive,” he told MarketWatch.May cocoa futures CCK24, +0.66% CC00, +0.66% settled at $5,583 per metric ton on the ICE Futures ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

On Thursday, shares of Hershey (HSY 4.14%) gained 4.1%, following the confectionary and snack-food giant's release of its fourth-quarter 2023 report.The company behind such brand favorites as its namesake brand, Reese's, and Twizzlers posted quarterly results that Wall Street characterizes as "mixed." Revenue slightly missed the analyst consensus estimate, while earnings exceeded it. But there was nothing even semisweet about management's full-year 2024 guidance: Both the top and bottom lines were below the ...

Hershey announced layoffs Thursday after reporting its quarterly earnings were hit by the soaring cost of cocoa and inflation-weary shoppers who cut back on the company’s expensive chocolates and candies.The Pennsylvania-based company said it would slash 5% of its workforce, resulting in as much as $60 million in severance costs.It wasn’t immediately clear how many jobs among the company’s workforce of roughly 18,075 full-time and nearly 2,000 part-time staffers would be affected, or what teams would be im ...

The Hershey Company (HSY) has delivered fourth-quarter 2023 results, with the bottom line remaining flat year over year. While earnings beat the Zacks Consensus Estimate, revenues missed the same.The company is navigating a challenging market, with a focus on innovation and consumer trends, despite facing cost pressures from high cocoa prices. It is optimistic about driving growth through marketing, innovation and brand investment. Additionally, Hershey is prioritizing productivity and transformation to enh ...

The Hershey Company. (NYSE:HSY) Q4 2023 Earnings Conference Call February 8, 2024 8:30 AM ET Company Participants Melissa Poole - VP, IR Michele Buck - Chairman and CEO Steve Voskuil - SVP and CFO Conference Call Participants Andrew Lazar - Barclays Ken Goldman - JPMorgan Max Gumport - BNP Paribas Bryan Spillane - Bank of America Alexia Howard - Bernstein Pamela Kaufman - Morgan Stanley Robert Moskow - TD Cowen Michael Lavery - Piper Sandler Tom Palmer - Citi Chris Carey - Wells Fargo Securities Rob Dickers ...

Hershey (HSY) reported $2.66 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 0.2%. EPS of $2.02 for the same period compares to $2.02 a year ago.The reported revenue represents a surprise of -2.48% over the Zacks Consensus Estimate of $2.72 billion. With the consensus EPS estimate being $1.95, the EPS surprise was +3.59%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street exp ...

Hershey Corp. HSY, -0.27% reported a fourth-quarter earnings beat before market open Thursday, although shares fell 3% in premarket trades, weighed down by weaker-than-expected sales and guidance. The chocolate and salty snacks company reported net income of $349 million, or earnings of $1.70 a share, compared with net income of $396 million, or earnings of $1.92 a share, in the prior year’s quarter. The company’s adjusted earnings were $2.02 a share, flat from the prior year’s quarter. Analysts surveyed b ...

HERSHEY, Pa., Feb. 8, 2024 /PRNewswire/ -- The Board of Directors of The Hershey Company (NYSE: HSY) today announced quarterly dividends of $1.370 on the Common Stock and $1.245 on the Class B Common Stock, an increase of 15% or $0.178 and $0.162 per share, respectively.  The dividends were declared February 7, 2024, and are payable March 15, 2024, to stockholders of record as of February 20, 2024. It is the 376th consecutive regular dividend on the Common Stock and the 157th consecutive regular dividend on ...

gsheldon/iStock Editorial via Getty Images I recently saw the new Willy Wonka movie and I wished that as I was watching it I could enjoy a delicious bar of chocolate, and then it hit me...what if I could not only enjoy a great piece of chocolate but also enjoy the wonders of owning one of the most recognizable chocolate brands in the world? In the LTM, Hershey's (NYSE:HSY) stock has fallen approximately -14.60% while the consumer staples sector (XLP) has risen almost by 3.70% in the same time frame. Data by ...