HERSHEY, Pa. (WHTM) -- The Hershey Company discussed the impacts of President Donald J. Trump's tariffs during their first quarter 2025 financial report earlier today.
During the Hershey Company's quarterly earnings discussion earlier this morning, the company said tariff expenses could cost them an additional $15 to $20 million on cocoa this quarter.
Now-delayed tariffs could threaten $14.3 billion in Pennsylvania sales to Canada – including $200 million of chocolate
Although cocoa expenses are not a big percentage of the company's overall expenses, it could get worse.
"Due to on-going negotiations and uncertainty regarding the duration, scale, and scope of U.S. import and retaliatory tariffs by other countries this guidance only includes tariff expense, as understood today, expected for the second quarter of 2025," Hershey Company shared in a press release.
It should be noted that the word "Tariffs" was mentioned 14 times during the company's presentation.
"I am pleased with the progress we are making on our key strategic initiatives for the year," Michele Buck, The Hershey Company President and Chief Executive Officer said. "Consumption in the quarter exceeded our expectations in both U.S. Candy, Mint, and Gum and Salty Snacks, driven by the strength of seasons, sweets, Dot's and SkinnyPop. Despite heightened cost pressure, our strong balance sheet gives us flexibility to invest in the business and participate in recent strategic acquisitions that further expand our better-for-you portfolio and drive long-term value creation."
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Hershey shared they earned $224.2 million from January through March 2025, or $1.10 per share diluted, which is a 71.7% decrease.
Furthermore, the Hershey Company shared it had consolidated net sales of approximately $2.8 billion in Q1, which is a decrease of 13.8%. Additionally, organic, constant currency net sales decreased by 13.2%, which was in line with their expectations.
As it pertains to the company's North American Salty Snacks, their net sales in Q1 2025 were $277.8 million, which is a 1% increase versus the same period last year. Their segment income was $41.9 million, which is up by 8.1% from Q1 2024.
To view the Hershey Company's full Q1 2025 report, you can click here.
abc27 news will keep you updated as more information becomes available.
