Equity Profile

HSY

The Hershey Company

Consumer StaplesPackaged Foods & Meats$37.4B

Jul30Thu

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

The Hershey Company (HSY) is a leading manufacturer of chocolate and confectionery products, known for its iconic brands like Hershey's, Reese's, and Kit Kat. As a key player in the consumer staples sector, Hershey's performance is closely tied to consumer spending and trends in the packaged foods industry.

Key Metrics to Watch

EPS

Earnings per share is a critical measure of profitability, indicating how much profit is allocated to each share of stock.

$2.27

Revenue

Total revenue reflects the company's ability to generate sales and is vital for assessing growth and market demand.

$3.3B

Wall Street expectations, options signals, track record, and call prep available with Pro.

HSY Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+9.91%

Avg Stock Reaction

+1.18%

Last Quarter Recap

In Q1-2026, Hershey reported an EPS of $2.35, exceeding expectations by 14.41%. However, the stock experienced a decline of 1.81% the following day, indicating mixed investor sentiment despite the positive earnings surprise.

Management Promises & Guidance

Continue to innovate with new product offerings.
Focus on expanding market share in both domestic and international markets.
Enhance supply chain efficiency to manage costs.

Expectations

Wall Street Expectations

Analysts are generally optimistic about Hershey's upcoming earnings, with expectations for both EPS and revenue to meet or slightly exceed consensus estimates.

Bull Case

If Hershey can leverage its strong brand portfolio and effectively manage costs, it may report higher-than-expected earnings, driving stock prices up.

Bear Case

Conversely, if consumer spending declines or input costs rise significantly, Hershey could miss expectations, leading to a negative market reaction.

Key Metrics to Watch

EPS

$2.27

Earnings per share is a critical measure of profitability, indicating how much profit is allocated to each share of stock.

Revenue

$3.3B

Total revenue reflects the company's ability to generate sales and is vital for assessing growth and market demand.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Hershey's revenue meet or exceed the consensus estimate of $3.3B?

Revenue performance is crucial for assessing the company's growth trajectory and market demand, especially in a competitive landscape.

What insights will management provide regarding cost management and pricing strategies?

Understanding how Hershey plans to navigate rising costs will be critical for evaluating future profitability and investor confidence.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Hershey's ability to manage costs effectively, which could lead to better-than-expected margins despite rising input prices.

Supporting Evidence

Hershey has a strong track record of beating EPS estimates, with a 75% beat rate in the last eight quarters.

The options market is pricing in a larger move than historical averages, suggesting potential for a surprise.

Recent consumer trends indicate a continued preference for premium confectionery products, which could bolster sales.

Key Risk

If Hershey's revenue growth exceeds $3.4B, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Hershey can sustain its growth amidst rising costs and changing consumer preferences.

Bull Confirmed If

An EPS of $2.30 or higher would confirm the bull case, indicating strong demand and effective cost management.

Bear Confirmed If

An EPS below $2.12 would signal significant challenges, confirming the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±5.44%

Historical Avg

±2.8%

Pricing rich

The options market is pricing in a significant move around the earnings announcement, suggesting heightened uncertainty or anticipation.

Options are pricing ±5.4% while HSY has averaged ±2.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

25.6%

Calls (26K)P/C Ratio: 0.70Puts (21K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Consumer Staples

n=30

Fade rate: 9 of 27 (33%)

This setup has occurred 30 times across Consumer Staples in the last 2 years. 18 of 27 (67%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 4.7%, with a raw directional average of +1.7% (modestly positive historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Hershey beats expectations, history suggests a potential stock increase of around 1.77%, confirming strong operational performance.

In-Line / Cautious

An in-line report may lead to muted reactions, as investors await further commentary on future guidance.

Miss

A miss could result in a decline of approximately 0.58%, reflecting investor disappointment and concerns over market conditions.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on new product launches and their expected impact on sales.
2Management's outlook on consumer spending trends and market conditions.
3Details on cost management strategies and pricing adjustments.
4Insights into international market performance and growth opportunities.
5Any commentary on supply chain challenges and how they are being addressed.

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Company Snapshot

Key Metrics to Watch

EPS

Earnings per share is a critical measure of profitability, indicating how much profit is allocated to each share of stock.

$2.27

Revenue

Total revenue reflects the company's ability to generate sales and is vital for assessing growth and market demand.

$3.3B

Wall Street expectations, options signals, track record, and call prep available with Pro.

HSY Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+9.91%

Avg Stock Reaction

+1.18%

Last Quarter Recap

Management Promises & Guidance

Continue to innovate with new product offerings.
Focus on expanding market share in both domestic and international markets.
Enhance supply chain efficiency to manage costs.

Expectations

Wall Street Expectations

Analysts are generally optimistic about Hershey's upcoming earnings, with expectations for both EPS and revenue to meet or slightly exceed consensus estimates.

Bull Case

If Hershey can leverage its strong brand portfolio and effectively manage costs, it may report higher-than-expected earnings, driving stock prices up.

Bear Case

Conversely, if consumer spending declines or input costs rise significantly, Hershey could miss expectations, leading to a negative market reaction.

Key Metrics to Watch

EPS

$2.27

Earnings per share is a critical measure of profitability, indicating how much profit is allocated to each share of stock.

Revenue

$3.3B

Total revenue reflects the company's ability to generate sales and is vital for assessing growth and market demand.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Hershey's revenue meet or exceed the consensus estimate of $3.3B?

Revenue performance is crucial for assessing the company's growth trajectory and market demand, especially in a competitive landscape.

What insights will management provide regarding cost management and pricing strategies?

Understanding how Hershey plans to navigate rising costs will be critical for evaluating future profitability and investor confidence.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Hershey's ability to manage costs effectively, which could lead to better-than-expected margins despite rising input prices.

Supporting Evidence

Hershey has a strong track record of beating EPS estimates, with a 75% beat rate in the last eight quarters.

The options market is pricing in a larger move than historical averages, suggesting potential for a surprise.

Recent consumer trends indicate a continued preference for premium confectionery products, which could bolster sales.

Key Risk

If Hershey's revenue growth exceeds $3.4B, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Hershey can sustain its growth amidst rising costs and changing consumer preferences.

Bull Confirmed If

An EPS of $2.30 or higher would confirm the bull case, indicating strong demand and effective cost management.

Bear Confirmed If

An EPS below $2.12 would signal significant challenges, confirming the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±5.44%

Historical Avg

±2.8%

Pricing rich

The options market is pricing in a significant move around the earnings announcement, suggesting heightened uncertainty or anticipation.

Options are pricing ±5.4% while HSY has averaged ±2.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

25.6%

Calls (26K)P/C Ratio: 0.70Puts (21K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Consumer Staples

n=30

Fade rate: 9 of 27 (33%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Hershey beats expectations, history suggests a potential stock increase of around 1.77%, confirming strong operational performance.

In-Line / Cautious

An in-line report may lead to muted reactions, as investors await further commentary on future guidance.

Miss

A miss could result in a decline of approximately 0.58%, reflecting investor disappointment and concerns over market conditions.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on new product launches and their expected impact on sales.
2Management's outlook on consumer spending trends and market conditions.
3Details on cost management strategies and pricing adjustments.
4Insights into international market performance and growth opportunities.
5Any commentary on supply chain challenges and how they are being addressed.