Hershey ”makes progress”

29 Jan 2016

Consolidated net sales were $1,909.2 million compared with $2,010.0 million for the fourth quarter of 2014. Reported net income for the fourth quarter of 2015 was $213.4 million or $0.98 per share-diluted.

Hershey ”makes progress”

Hershey has announced sales and earnings for the fourth quarter ended December 31, 2015. Consolidated net sales were $1,909.2 million compared with $2,010.0 million for the fourth quarter of 2014. Reported net income for the fourth quarter of 2015 was $213.4 million or $0.98 per share-diluted, compared with$202.5 million or $0.91 per share-diluted for the comparable period of 2014.

"We made progress against our strategic initiatives in 2015, generated solid gross margin expansion in North America and largely maintained our overall U.S. candy, mint and gum (CMG) market share as retail takeaway on our U.S. core brands increased,” said John P. Bilbrey, Chairman, President and Chief Executive Officer, The Hershey Company. “The Krave meat snacks business and integration is on plan and the Reese’s Snack Mix, Hershey’s Snack Bites and Brookside dark chocolate fruit and nut bar launches are in line with expectations. We are listening to consumers and their changing preferences with respect to simple ingredients and transparency. During the fourth-quarter holiday season we nationally debuted Holiday Hershey’s Kisses Milk Chocolates and Hershey’s Milk Chocolate Bars, made with simple ingredients and no artificial flavours. These are some of the first products from Hershey to transition to simpler ingredients, a commitment announced last year. Holiday Hershey’s Kisses Milk Chocolates packages were also the first to pilot the SmartLabel, which allows consumers to scan a QR code and instantly access detailed product information, from ingredient and nutrition facts to allergens. Our solid balance sheet and continued strong cash flow generation enabled us to return nearly $900 million to shareholders through a 9% dividend increase and meaningful share repurchase activity.”