The strong EPS beat and raised guidance signal margin recovery is ahead of plan, but the 10% volume decline and weakness in International and Salty Snacks profitability warrant monitoring. Watch Q4 for volume trends and whether price elasticity stabilizes.
Price Chart
Executive Summary
Hershey reported Q3 2026 adjusted EPS of $2.64, beating the $2.11 consensus by 25.1%, on revenue of $3.2755B versus the $3.25B estimate. The company raised its full-year adjusted EPS growth guidance to 36%-38.5% (from 32.5%-35%) and narrowed net sales growth to ~5% (from 4.5%-5%). Volume declined 10% overall, but price realization and margin recovery drove the beat.
Key Financial Metrics
Key Facts
- Q3 2026 adjusted EPS $2.64 vs consensus $2.11 (beat by 25.1%)
- Q3 2026 revenue $3.2755B vs consensus $3.25B (beat)
- Adjusted gross margin 42.7%, up 1,090 bps YoY
- Full-year adjusted EPS growth guidance raised to 36%-38.5% from 32.5%-35%
- Full-year net sales growth guidance narrowed to ~5% from 4.5%-5%
- Volume declined 10% overall, with North America Confectionery volume down 11%
- North America Salty Snacks segment income fell 17.9% despite 22.3% revenue growth (acquisition-driven)
- International segment loss widened to $30.0M from $13.6M loss in prior year
Financial Impact
EPS beat of $0.53 (25.1%) on consensus of $2.11; revenue beat of $25.5M (0.8%); guidance raised for adjusted EPS growth by 3.5 percentage points at the midpoint
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| North America Confectionery | $2.7B | +1.6% |
| North America Salty Snacks | $392.7M | +22.3% |
| International | $226.4M | -7.5% |
Risk Factors
- Volume declined 10% overall, with North America Confectionery down 11%, reflecting price elasticity
- International segment loss widened to $30.0M from $13.6M loss
- North America Salty Snacks segment margin fell 590 bps to 12.1% despite revenue growth
- Selling, marketing and administrative expenses increased 15.4% YoY
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302922691 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 3d ago | 8-K | No price | awaiting T+20 | awaiting T+20 | No price |
Oct 29, 2026 3d ago | Press Release | $160.28 | awaiting T+20 | awaiting T+20 | $165.61 (+3.33%) |
Oct 21, 2026 11d ago | Institutional Cluster | $175.64 | awaiting T+20 | awaiting T+20 | $165.61 (−5.71%) |
Oct 1, 2026 4w ago | Press Release | $159.30 $160.28 | ▲ +0.62% | ▼ −0.09% | $165.61 (+3.96%) |
Aug 17, 2026 10w ago | Insider Cluster | $183.45 $170.79 | ▼ −6.90% | ▼ −5.59% | $165.61 (−9.72%) |
Aug 12, 2026 11w ago | Insider Cluster | $186.12 $173.32 | ▲ +6.88% | ▲ +5.13% | $165.61 (+11.02%) |
Aug 10, 2026 11w ago | Insider Cluster | $181.98 $172.19 | ▼ −5.38% | ▼ −4.32% | $165.61 (−9.00%) |
Aug 10, 2026 11w ago | Insider Cluster | $181.98 $172.19 | ▼ −5.38% | ▼ −4.32% | $165.61 (−9.00%) |
Aug 7, 2026 12w ago | Insider Cluster | $182.75 $173.27 | ▼ −5.19% | ▼ −4.27% | $165.61 (−9.38%) |
Aug 6, 2026 12w ago | Insider Cluster | $182.35 $173.15 | ▼ −5.05% | ▼ −4.65% | $165.61 (−9.18%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers