Hershey, a global confectionery leader, reported a decrease in net sales for the third quarter of 2024, with a 1.4% drop compared to the same period in 2023, totaling $2,987.5 million. The decline was attributed to a volume decrease of approximately 3%, primarily in salty snack brands, and was partially offset by a favorable price realization of approximately 2%. Operating profit also saw a decrease of 16.7% to $613.2 million, with a corresponding operating profit margin reduction to 20.5%. Net income for the quarter fell by 13.9% to $446.3 million, and diluted earnings per share decreased by 12.7% to $2.20. The company's business development included the acquisition of assets from Weaver Popcorn Manufacturing, Inc. in May 2023, enhancing manufacturing capacity for Hershey's SkinnyPop brand. Hershey's future plans involve monitoring discretionary spending and evaluating potential impacts of macroeconomic conditions, including commodity price volatility and geopolitical events, on its business operations and financial results. The company remains confident in its liquidity to support strategic initiatives despite the challenging economic environment.

Hershey, a global confectionery leader, reported a decrease in net sales for the third quarter of 2024, with a 1.4% drop compared to the same period in 2023, totaling $2,987.5 million. The decline was attributed to a volume decrease of approximately 3%, primarily in salty snack brands, and was partially offset by a favorable price realization of approximately 2%. Operating profit also saw a decrease of 16.7% to $613.2 million, with a corresponding operating profit margin reduction to 20.5%. Net income for the quarter fell by 13.9% to $446.3 million, and diluted earnings per share decreased by 12.7% to $2.20. The company's business development included the acquisition of assets from Weaver Popcorn Manufacturing, Inc. in May 2023, enhancing manufacturing capacity for Hershey's SkinnyPop brand. Hershey's future plans involve monitoring discretionary spending and evaluating potential impacts of macroeconomic conditions, including commodity price volatility and geopolitical events, on its business operations and financial results. The company remains confident in its liquidity to support strategic initiatives despite the challenging economic environment.