Hershey Reaffirms Outlook For 2019

HERSHEY, Pa., Feb. 20, 2019 (GLOBE NEWSWIRE) -- In a presentation today at the 2019 Consumer Analyst Group of New York (CAGNY) conference, Michele G. Buck, President and Chief Executive Officer, The Hershey Company (NYSE: HSY), reviewed the progress the company has made against its strategic plans and the company’s 2019 imperatives to drive sustainable, profitable growth and long-term shareholder value.

During the presentation, Buck reaffirmed the company's full-year 2019 financial expectations for net sales and earnings per share-diluted growth previously provided in its January 31, 2019, earnings release.  Full-year reported net sales are expected to increase in the 1% to 3% range, full-year reported earnings per share-diluted are expected to increase 3% to 6% and full-year adjusted earnings per share-diluted are expected to increase 5% to 7%.

The company’s CAGNY presentation was accompanied by slides that can be accessed in the “CALENDAR OF EVENTS” section of the corporate website. (https://www.thehersheycompany.com/en_us/investors/events-reports-releases/calendar-of-events.html).

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This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Many of these forward-looking statements can be identified by the use of words such as “intend,” “believe,” “expect,” “anticipate,” “should,” “planned,” “projected,” “estimated,” and “potential,” among others. These statements are made based upon current expectations that are subject to risk and uncertainty. Because actual results may differ materially from those contained in the forward-looking statements, you should not place undue reliance on the forward-looking statements when deciding whether to buy, sell or hold the company's securities. Factors that could cause results to differ materially include, but are not limited to: issues or concerns related to the quality and safety of our products, ingredients or packaging; changes in raw material and other costs, along with the availability of adequate supplies of raw materials; selling price increases, including volume declines associated with pricing elasticity; market demand for our new and existing products; increased marketplace competition; disruption to our manufacturing operations or supply chain; failure to successfully execute and integrate acquisitions, divestitures and joint ventures; changes in governmental laws and regulations, including taxes; political, economic, and/or financial market conditions; risks and uncertainties related to our international operations; disruptions, failures or security breaches of our information technology infrastructure; our ability to hire, engage and retain a talented global workforce; our ability to realize expected cost savings and operating efficiencies associated with strategic initiatives or restructuring programs; complications with the design or implementation of our new enterprise resource planning system; and such other matters as discussed in our Annual Report on Form 10-K for the year ended December 31, 2017. All information in this press release is as of February 20, 2019. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations. 

Melissa PooleJeff Beckman