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 trends and preferences for snacks and treats.

Key Metrics to Watch

EPS

Earnings per share is a crucial indicator of profitability and helps investors gauge the company's financial health.

$2.27

Revenue

Total revenue reflects the company's sales performance and market demand for its products.

$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, significantly exceeding expectations by 14.41%. However, the stock fell 1.81% the following day, indicating mixed investor sentiment despite the strong earnings.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts are generally optimistic about Hershey's upcoming earnings, expecting solid EPS and revenue figures. The company has a history of beating earnings estimates, which could lead to positive market reactions.

Bull Case

If Hershey can deliver an EPS above the consensus of $2.27, it could reinforce investor confidence and drive the stock higher, especially given its recent strong performance.

Bear Case

Conversely, if the company misses earnings expectations or shows signs of slowing growth, it may lead to a negative reaction in the stock price, particularly given the current market volatility.

Key Metrics to Watch

EPS

$2.27

Earnings per share is a crucial indicator of profitability and helps investors gauge the company's financial health.

Revenue

$3.3B

Total revenue reflects the company's sales performance and market demand for its products.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Hershey's EPS exceed the consensus estimate of $2.27?

A beat on EPS could signal strong demand and effective cost management, which would be crucial for investor confidence.

What are the revenue trends compared to the expected $3.3B?

Revenue performance is key to understanding market demand and the company's growth trajectory, influencing future guidance.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate Hershey's ability to leverage its brand strength and pricing power in a challenging economic environment.

Supporting Evidence

Hershey has consistently beaten EPS estimates in recent quarters, suggesting strong operational execution.

The options market is pricing a larger move than historical averages, indicating potential for a significant reaction.

Consumer spending on snacks remains robust, which could support Hershey's revenue growth despite economic headwinds.

Key Risk

If Hershey's revenue comes in below $3.2B, it could challenge the optimistic growth narrative.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is critical as it will reflect how well Hershey is managing costs and responding to consumer demand in a competitive market.

Bull Confirmed If

An EPS of $2.30 or higher would confirm the bull case, indicating strong operational performance.

Bear Confirmed If

An EPS below $2.20 would support the bear case, suggesting potential challenges in maintaining growth.

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)

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 positive sentiment.

In-Line / Cautious

An in-line report may lead to a muted response, as investors assess management's commentary on future growth.

Miss

If the company misses earnings, history indicates a potential decline of about 0.58%, which could raise concerns about future performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on pricing strategies and how they are impacting margins.
2Insights into consumer demand trends for chocolate and snacks.
3Management's outlook on supply chain challenges and cost pressures.
4Details on new product launches and their expected impact on sales.
5Any commentary on market share changes in the confectionery sector.

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Company Snapshot

Key Metrics to Watch

EPS

Earnings per share is a crucial indicator of profitability and helps investors gauge the company's financial health.

$2.27

Revenue

Total revenue reflects the company's sales performance and market demand for its products.

$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

Expectations

Wall Street Expectations

Bull Case

If Hershey can deliver an EPS above the consensus of $2.27, it could reinforce investor confidence and drive the stock higher, especially given its recent strong performance.

Bear Case

Conversely, if the company misses earnings expectations or shows signs of slowing growth, it may lead to a negative reaction in the stock price, particularly given the current market volatility.

Key Metrics to Watch

EPS

$2.27

Earnings per share is a crucial indicator of profitability and helps investors gauge the company's financial health.

Revenue

$3.3B

Total revenue reflects the company's sales performance and market demand for its products.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Hershey's EPS exceed the consensus estimate of $2.27?

A beat on EPS could signal strong demand and effective cost management, which would be crucial for investor confidence.

What are the revenue trends compared to the expected $3.3B?

Revenue performance is key to understanding market demand and the company's growth trajectory, influencing future guidance.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate Hershey's ability to leverage its brand strength and pricing power in a challenging economic environment.

Supporting Evidence

Hershey has consistently beaten EPS estimates in recent quarters, suggesting strong operational execution.

The options market is pricing a larger move than historical averages, indicating potential for a significant reaction.

Consumer spending on snacks remains robust, which could support Hershey's revenue growth despite economic headwinds.

Key Risk

If Hershey's revenue comes in below $3.2B, it could challenge the optimistic growth narrative.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is critical as it will reflect how well Hershey is managing costs and responding to consumer demand in a competitive market.

Bull Confirmed If

An EPS of $2.30 or higher would confirm the bull case, indicating strong operational performance.

Bear Confirmed If

An EPS below $2.20 would support the bear case, suggesting potential challenges in maintaining growth.

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)

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 positive sentiment.

In-Line / Cautious

An in-line report may lead to a muted response, as investors assess management's commentary on future growth.

Miss

If the company misses earnings, history indicates a potential decline of about 0.58%, which could raise concerns about future performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on pricing strategies and how they are impacting margins.
2Insights into consumer demand trends for chocolate and snacks.
3Management's outlook on supply chain challenges and cost pressures.
4Details on new product launches and their expected impact on sales.
5Any commentary on market share changes in the confectionery sector.