Equity Profile

HSY

The Hershey Company

Consumer StaplesPackaged Foods & Meats$39.4B

Jul30Thu

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

The Hershey Company (HSY) is a leading chocolate and confectionery manufacturer known for its iconic brands like Hershey's, Reese's, and Kit Kat. Operating in the consumer staples sector, Hershey plays a significant role in the packaged foods industry, benefiting from consistent consumer demand for snacks and treats, particularly during seasonal events.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its market share and maintain consumer interest in its products.

N/A

1 more metrics, 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, surpassing estimates by 14.41%. However, the stock experienced a decline of 1.81% the following day, indicating mixed market reactions.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall expectations for Hershey's upcoming earnings are cautious, given the recent mixed performance and lack of analyst estimates. Investors are keen to see if the company can continue its trend of beating EPS estimates.

Bull Case

If Hershey can deliver strong revenue growth alongside improved margins, it could reinforce investor confidence and lead to a positive stock reaction.

Bear Case

Conversely, if the company fails to meet expectations or shows signs of slowing growth, it could lead to a negative market reaction, especially given the recent insider selling.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported EPS and how does it compare to previous quarters?

Given Hershey's history of beating EPS estimates, the market will closely watch this figure to gauge ongoing profitability.

What insights can management provide about revenue growth and market conditions?

Understanding revenue trends and market dynamics will be crucial for assessing the company's future performance and investor sentiment.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate Hershey's ability to innovate and capture market share in the premium chocolate segment, which could drive unexpected revenue growth.

Supporting Evidence

Recent trends show a growing consumer preference for premium and artisanal chocolates, which Hershey is well-positioned to capitalize on.

Insider selling, while concerning, may not reflect the company's long-term growth potential, especially if new product launches are successful.

Key Risk

If Hershey's revenue growth exceeds expectations, it could challenge the current cautious consensus.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Hershey can maintain its growth momentum amidst increasing competition and changing consumer preferences.

Bull Confirmed If

An EPS of $2.50 or higher would confirm strong profitability and investor confidence.

Bear Confirmed If

An EPS below $2.00 would raise concerns about the company's growth trajectory.

Pre-Earnings Positioning

Options Market

Implied Move

±5.44%

Historical Avg

±2.8%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

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

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$19.9M

101,500 sh

2 insiders

Net

$19.9M

Net selling

Most Active Insiders· 52 open-market trades

Insider

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Hershey beats expectations, history suggests the stock could rise by around 1.77%, confirming a positive outlook.

In-Line / Cautious

If results are in line but management's commentary is cautious, the stock may experience limited movement as investors reassess their expectations.

Miss

Should the company miss expectations, history indicates a potential decline of about 0.58%, leading to increased scrutiny of its growth strategy.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·2 sells

Members

House only

Est. Notional

$51,002.00–$115,000.00

disclosed dollar ranges

Most Active Members

R-FLScott Scott FranklinRep.
2

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new product launches and their expected impact on sales.
2Management's outlook on consumer trends and how they plan to adapt.
3Insights into cost management and its effect on gross margins.
4Details on seasonal sales performance, especially around holidays.
5Any commentary on competitive pressures and market share dynamics.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its market share and maintain consumer interest in its products.

N/A

1 more metrics, 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, surpassing estimates by 14.41%. However, the stock experienced a decline of 1.81% the following day, indicating mixed market reactions.

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If Hershey can deliver strong revenue growth alongside improved margins, it could reinforce investor confidence and lead to a positive stock reaction.

Bear Case

Conversely, if the company fails to meet expectations or shows signs of slowing growth, it could lead to a negative market reaction, especially given the recent insider selling.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported EPS and how does it compare to previous quarters?

Given Hershey's history of beating EPS estimates, the market will closely watch this figure to gauge ongoing profitability.

What insights can management provide about revenue growth and market conditions?

Understanding revenue trends and market dynamics will be crucial for assessing the company's future performance and investor sentiment.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate Hershey's ability to innovate and capture market share in the premium chocolate segment, which could drive unexpected revenue growth.

Supporting Evidence

Recent trends show a growing consumer preference for premium and artisanal chocolates, which Hershey is well-positioned to capitalize on.

Insider selling, while concerning, may not reflect the company's long-term growth potential, especially if new product launches are successful.

Key Risk

If Hershey's revenue growth exceeds expectations, it could challenge the current cautious consensus.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Hershey can maintain its growth momentum amidst increasing competition and changing consumer preferences.

Bull Confirmed If

An EPS of $2.50 or higher would confirm strong profitability and investor confidence.

Bear Confirmed If

An EPS below $2.00 would raise concerns about the company's growth trajectory.

Pre-Earnings Positioning

Options Market

Implied Move

±5.44%

Historical Avg

±2.8%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

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

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$19.9M

101,500 sh

2 insiders

Net

$19.9M

Net selling

Most Active Insiders· 52 open-market trades

Insider

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Hershey beats expectations, history suggests the stock could rise by around 1.77%, confirming a positive outlook.

In-Line / Cautious

If results are in line but management's commentary is cautious, the stock may experience limited movement as investors reassess their expectations.

Miss

Should the company miss expectations, history indicates a potential decline of about 0.58%, leading to increased scrutiny of its growth strategy.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·2 sells

Members

House only

Est. Notional

$51,002.00–$115,000.00

disclosed dollar ranges

Most Active Members

R-FLScott Scott FranklinRep.
2

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new product launches and their expected impact on sales.
2Management's outlook on consumer trends and how they plan to adapt.
3Insights into cost management and its effect on gross margins.
4Details on seasonal sales performance, especially around holidays.
5Any commentary on competitive pressures and market share dynamics.