Hershey Raises Guidance After Beating Q3 Earnings Expectations

The Hershey Company beat expectations for its Q3 2025 earnings today, raising its full-year outlook after reporting a 6.5% net sales increase to over $3.1 billion for the quarter.

• The North America Confectionery segment reported a 5.6% net sales increase to $2.6 billion.
• North America Salty Snacks net sales were around $321 million, up 10.0% year-over-year.
• Hershey’s International segment grew 12.1% to roughly $244.8 million.

In U.S. retail, including multi-outlet and convenience, Hershey reported its salty snack business had gained market share, including growth on SkinnyPop – driven by marketing campaigns – as well as the Dot’s Homestyle Pretzels brands and Pirate’s Booty.

In the 12-week period ending September 28, Hershey reported 5.4% revenue growth in U.S. multi-outlet and c-store retail for its candy, mint and gum business.

“Third quarter results surpassed expectations, as strong innovation, strategic brand investments, and market leading execution drove momentum across business segments,” said president and CEO Kirk Tanner in a statement.

“I am excited to steer the next generation of growth at the company, working closely with our talented team members, valued customers, and the board. Together, we’ll focus on delighting consumers and delivering results as we unlock our full potential as a snacking industry leader.”

Speaking on a call with investors and analysts this morning, Tanner said the company remains optimistic about growth opportunities for its chocolate and confections business in the next year, suggesting the space has shown significant “resilience” despite rising costs and macro economic conditions.

“One thing to look at is this category [confections] has been very resilient and rational,” Tanner said. “I think that’s really important when you look across the industry. That gives us the confidence that we’re making the right decisions, and we don’t have concerns at this time.”

The company also offered clearer expectations for how tariffs will impact the business going forward, predicting increased costs of approximately $160 million to $170 million over the next year.

Year-end guidance was upgraded to around 3% net sales growth (previously expected around 2%), and reported earnings per share will fall around 48% to 50% compared to a previous expectation of roughly 50%.