February 8, 2023

Sweet 2020, despite the COVID

The Hershey Company has disclosed the financial results for the full year ended December 31, 2020. Consolidated net sales of $8,149.7 million, an increase of 2.0%, 0rganic, constant currency net sales increased 2.0%, and net income of $1,278.7 million, or $6.11 per share-diluted, an increase of 11.9%.

The increase in demand for Twizzlers, S’mores and Candy Dis. The results include the 2020 disposals of Krave Pure Foods and the Scharffen Berger and Dagoba brands. “2020 was a year of unexpected challenges and hardship, but also one that brought opportunity, resilience and compassion. We are proud to be an important part of comfort and connection in people’s lives. Our portfolio of beloved brands remains extremely relevant with consumers, and our dedicated team, advantaged capabilities and operational excellence allowed us to help create many moments of goodness for them during these unprecedented times,” said Michele Buck, The Hershey Company President and Chief Executive Officer. “We delivered a strong quarter with continued share gains and volume growth to finish the year. While the impact of key external factors on our business remains uncertain, we have good momentum going into 2021 with visibility into a strong start to the year. We anticipate we will deliver another year of balanced sales and earnings growth in 2021.”

For 2021, the company expects performance in line with its long-term growth algorithm of 2-4% net sales growth and 6-8% earnings per share growth.

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