The Hershey Company’s net income grew on the back of slightly higher net sales in the last fiscal year.
The chocolate company’s net income rose 19.3 per cent to US$2.22 billion as net sales climbed 0.3 per cent to $11.20 billion.
In the fourth quarter alone, net income surged 128.2 per cent to $796.6 million, while net sales jumped 8.7 per cent to $2.89 billion.
The results include a 0.2-point benefit from Hershey’s acquisition of Sour Strips announced last November.
“While we continue to expect the surge in cocoa prices to put significant pressure on 2025 earnings, we will focus on driving top-line and share momentum, executing our transformation and productivity programs, and positioning ourselves to deliver peer-leading performance over the long term,” said Michele Buck, The Hershey Company president and CEO.
For the current year, the company forecasts net sales to increase by at least 2 per cent, with the Sour Strips acquisition to add about 30 basis points to net sales growth.
The Hershey Company has yet to name a new CEO to succeed Buck, who is set to retire on June 26.
