The Hershey Company (HSY) earnings on July 30, 2026

Before the market opens Q2 2026

More The Hershey Company earnings

Prior outlook: Pessimistic Outcome: Accurate

Hershey shares fell despite beating earnings forecasts, as investors worried about declining sales volumes.

HSY price around the earnings

177.23

Change: -3.6%

2026-07-30, 20:00 UTC

Start of the measured window End of the measured window
177.08 181.00 184.91 188.83 183.91
Price series around the eventClosing price per minute from before the event to the end of the measured window.
July 30, 2026
  • Price: green if it ends above the starting price; red if it ends below
  • Start of the measured window
  • End of the measured window
  • Market open
  • Starting price
Price series around the event

Prior thesis

Prior outlook: Pessimistic Outcome: Accurate

Thesis published
Results released

Strong historical beats are overshadowed by recent analyst price target cuts and persistent negative trend strength.

Context analyzed before publication

Trend
Persistent negative trend strength into the event, despite a recent 14d bounce, suggests expectations are reset lower.

Analysts

Evidence

Analyst consensus
Buy
Consensus average (1-5)
2.48
Analysts covering the stock
21
Average price target
207.71
Lowest price target
166
Highest price target
250
Upside to price target
12.9%
Quarterly earnings growth
94.1%
Revenue growth
10.6%
Forward EPS
9.86
Trailing EPS
5.39
Analyst moves in the last 60 days
7
  • Strong buy: 2
  • Buy: 6
  • Hold: 14
  • Sell: 1
  • Strong sell: 0
Strong buy
2
Buy
6
Hold
14
Sell
1
Strong sell
0
  • July 23, 2026 · Evercore ISI Group: Maintains rating (Outperform → Outperform)
  • July 22, 2026 · Stifel: Maintains rating (Hold → Hold)
  • July 21, 2026 · Barclays: Maintains rating (Equal-Weight → Equal-Weight)
  • July 16, 2026 · UBS: Maintains rating (Neutral → Neutral)
  • July 13, 2026 · JP Morgan: Maintains rating (Neutral → Neutral)
  • July 9, 2026 · Piper Sandler: Maintains rating (Overweight → Overweight)
  • June 25, 2026 · B of A Securities: Maintains rating (Neutral → Neutral)

News and sentiment

Evidence

Sentiment
Sentiment
Cautious
Mention volume
Low
Normalized volume
33%
News
Sources (6)

Technicals

Evidence

Price when the context was analyzed
183.87
Average true range (ATR)
2.5%
Distance to 52-week high
-21.6%
14-day change (14d)
+8.1%
30-day change (30d)
+1.3%
30-day relative strength
+2.9%
SPY change (30d)
-1.5%
Nearest support
183.29
Distance to nearest support
0.3%
Nearest resistance
184.26
Distance to nearest resistance
0.2%
Volume accumulation ratio (14d / 46d)
0.81
  • Major: 183.29 (0.3% away, 0.12 ATR, 53 touches)
  • Major: 181.71 (1.2% away, 0.47 ATR, 50 touches)
  • Major: 180.08 (2.1% away, 0.83 ATR, 42 touches)
  • Major: 184.26 (0.2% away, 0.08 ATR, 50 touches)
  • Major: 185.7 (1% away, 0.4 ATR, 23 touches)
  • Major: 186.65 (1.5% away, 0.61 ATR, 46 touches)

Trends

Evidence

Average earnings surprise
+19.8%
  • April 30, 2026: actual EPS 2.35 vs estimate 2.05 (surprise +14.7%)
  • February 5, 2026: actual EPS 1.71 vs estimate 1.4 (surprise +21.8%)
  • October 30, 2025: actual EPS 1.3 vs estimate 1.06 (surprise +22.2%)
  • July 30, 2025: actual EPS 1.21 vs estimate 1 (surprise +20.4%)

Expected move

Implied move
+5.3%
Source
Options chain

Reactions over its last 20 earnings

Median move
2.6%
75th percentile move
3.2%
90th percentile move
4.5%
Up / down moves
12 / 8
Average up move
+3.3%
Average down move
-1.7%

Monitoring and close

What The Hershey Company reported

Status
Finished
Actual EPS1.9
EPS estimate1.43
EPS surprise+32.9%
Revenue$2,787 million
Revenue estimate$2,634 million
Revenue surprise+5.8%

Hershey beat Q2 estimates but stock fell on volume. Now chocolate makers including Hershey are rethinking supply chains and using innovation to reduce cocoa dependence amid price swings.

Sources (18)

Pre-market second reading after the results

Verdict
Beat expectations

Heading into the open, results beat expectations on both earnings and revenue, and the price is indicating -1.5% pre-market, a move in line with the stock's usual reaction (about 3%). The figures don't confirm the prior scenario: the price move doesn't follow the direction the results point to.

How the stock reacted

Outcome
Accurate
Consolidated
-3.6%
Max favorable move (MFE)
3.7%
Max adverse move (MAE)
0%