Hershey Announces Fourth Quarter And Full-Year 2012 Results; Updates Outlook For 2013

The Hershey Company (NYSE: HSY):

• Fourth quarter and full-year 2012 net sales increase 11.7% and 9.3%, respectively
• Fourth quarter earnings per share-diluted of $0.66 as reported and $0.74 adjusted
• Full-year 2012 earnings per share-diluted of $2.89 as reported and $3.24 adjusted
• Outlook for 2013 net sales reaffirmed, earnings per share-diluted increased:
  • Full-year net sales expected to increase 5-7%, driven primarily by volume
  • Reported earnings per share-diluted expected to be $3.47 to $3.56
  • Adjusted earnings per share-diluted expected to increase 10-12% and be in the $3.56 to $3.63 range, greater than the previous estimate of an 8-10% increase

The Hershey Company (NYSE: HSY) today announced sales and earnings for the fourth quarter ended December 31, 2012. Consolidated net sales were $1,751,035,000 compared with $1,567,145,000 for the fourth quarter of 2011. Reported net income for the fourth quarter of 2012 was $149,879,000 or $0.66 per share-diluted, compared with $142,133,000 or $0.62 per share-diluted for the comparable period of 2011.

“Hershey’s fourth quarter financial and marketplace results represent a strong finish to 2012 and validate our strategy of focusing investments in the U.S. and key international geographies,” said John P. Bilbrey, President and Chief Executive Officer, The Hershey Company. “As expected, fourth quarter marketplace performance was solid and we gained market share in every category – chocolate, non-chocolate, mint and gum. We had solid seasonal growth in 2012, with retail sell-through in measured channels in line with our estimates. Additionally, for the combined four seasons, and the important Halloween period, our market share gain was identical, 0.8 points. Our solid financial performance gave us flexibility in our approach to investments in global go-to-market capabilities that will benefit Hershey over the near and long-term. We’ll build on our success in 2013 and are confident that our plans will drive core brand volume growth in U.S. and international markets.”

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