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Hershey | 8-K: Hershey Reports Second-Quarter 2024 Financial Results; Updates 2024 Net Sales and Earnings Outlook

Hershey | 8-K: Hershey Reports Second-Quarter 2024 Financial Results; Updates 2024 Net Sales and Earnings Outlook

好時 | 8-K:好時公佈2024年第二季度財務業績;更新2024年淨銷售額和收益展望
美股SEC公告 ·  2024/08/01 05:51

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Hershey reported Q2 2024 consolidated net sales of $2.07B, down 16.7% YoY, with organic constant currency sales declining 16.8%. The decrease was primarily driven by planned inventory reductions and lower retailer inventory levels. Net income fell 55.1% to $180.9M, with adjusted EPS of $1.27, down 36.8%.North America Confectionery sales decreased 20.7% to $1.58B, impacted by inventory reductions and seasonal shipment timing. North America Salty Snacks grew 6.4% to $289.9M, while International segment declined 8.9% to $204.8M. Gross margin contracted 530 basis points to 40.2%, pressured by higher commodity costs and fixed cost deleverage.The company revised its 2024 outlook, now expecting net sales growth of ~2% (down from 2-3%) and projecting reported EPS to decline 1-3%. Management cited consumer pullback on discretionary spending and dynamic operating environment as key challenges, while emphasizing continued growth in confection category and momentum in Salty Snacks portfolio.
Hershey reported Q2 2024 consolidated net sales of $2.07B, down 16.7% YoY, with organic constant currency sales declining 16.8%. The decrease was primarily driven by planned inventory reductions and lower retailer inventory levels. Net income fell 55.1% to $180.9M, with adjusted EPS of $1.27, down 36.8%.North America Confectionery sales decreased 20.7% to $1.58B, impacted by inventory reductions and seasonal shipment timing. North America Salty Snacks grew 6.4% to $289.9M, while International segment declined 8.9% to $204.8M. Gross margin contracted 530 basis points to 40.2%, pressured by higher commodity costs and fixed cost deleverage.The company revised its 2024 outlook, now expecting net sales growth of ~2% (down from 2-3%) and projecting reported EPS to decline 1-3%. Management cited consumer pullback on discretionary spending and dynamic operating environment as key challenges, while emphasizing continued growth in confection category and momentum in Salty Snacks portfolio.
好時公司發佈了2024年第二季度合併淨銷售額爲20.7億美金,同比下降16.7%,以固定貨幣計算的有機銷售下降了16.8%。下降主要是由於計劃中的庫存減少和零售商庫存水平降低。凈利潤下降55.1%至18090萬,調整後的每股收益爲1.27美金,下降36.8%。北美糖果銷售下降20.7%至15.8億美金,受庫存減少和季節性交通時機的影響。北美鹹味小吃增長6.4%至28990萬,而國際部門下降8.9%至20480萬。毛利率收縮530個點子至40.2%,受到商品成本上升和固定成本槓桿作用的壓力。公司修訂了2024年的展望,現在預計淨銷售增長約爲2%(從2-3%下調)並預計報告的每股收益下降1-3%。管理層引用了消費者在非必需消費支出的回撤和動態經營環境作爲主要挑戰,同時強調在糖果類別中繼續增長和鹹味小吃產品組合的動力。
好時公司發佈了2024年第二季度合併淨銷售額爲20.7億美金,同比下降16.7%,以固定貨幣計算的有機銷售下降了16.8%。下降主要是由於計劃中的庫存減少和零售商庫存水平降低。凈利潤下降55.1%至18090萬,調整後的每股收益爲1.27美金,下降36.8%。北美糖果銷售下降20.7%至15.8億美金,受庫存減少和季節性交通時機的影響。北美鹹味小吃增長6.4%至28990萬,而國際部門下降8.9%至20480萬。毛利率收縮530個點子至40.2%,受到商品成本上升和固定成本槓桿作用的壓力。公司修訂了2024年的展望,現在預計淨銷售增長約爲2%(從2-3%下調)並預計報告的每股收益下降1-3%。管理層引用了消費者在非必需消費支出的回撤和動態經營環境作爲主要挑戰,同時強調在糖果類別中繼續增長和鹹味小吃產品組合的動力。
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