The Hershey Company Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	11,693	11,202	11,165	10,419	8,971
Revenue Growth (YoY)	4.38%	0.33%	7.16%	16.14%	10.08%
Cost of Revenue	7,770	5,891	6,167	5,921	4,918
Gross Profit	3,923	5,312	4,998	4,499	4,054
Selling, General & Admin	2,390	2,263	2,412	2,205	1,959
Research & Development	61.66	55.8	50.03	46.94	40.11
Operating Expenses	2,451	2,319	2,462	2,252	1,999
Operating Income	1,471	2,993	2,536	2,247	2,055
Interest Expense	-224.81	-174.32	-161.51	-140.1	-129.85
Interest & Investment Income	34.6	8.66	9.73	2.54	2.43
Currency Exchange Gain (Loss)	10.32	0.49	-	-	-
Other Non Operating Income (Expenses)	6.55	6.83	1.28	0.59	-0.15
EBT Excluding Unusual Items	1,298	2,835	2,386	2,110	1,928
Merger & Restructuring Charges	-59.4	-117.54	-3.44	-4.42	-16.6
Gain (Loss) on Sale of Investments	-24.48	-243.31	-210.48	-188.29	-113.76
Pretax Income	1,214	2,474	2,172	1,917	1,797
Income Tax Expense	330.95	252.7	310.08	272.25	314.41
Earnings From Continuing Operations	883.26	2,221	1,862	1,645	1,483
Minority Interest in Earnings	-	-	-	-	-5.31
Net Income	883.26	2,221	1,862	1,645	1,478
Net Income to Common	883.26	2,221	1,862	1,645	1,478
Net Income Growth	-60.24%	19.31%	13.19%	11.32%	15.55%
Shares Outstanding (Basic)	203	203	205	206	207
Shares Outstanding (Diluted)	203	203	206	207	208
Shares Change (YoY)	-0.05%	-1.00%	-0.50%	-0.57%	-0.79%
EPS (Basic)	4.35	10.94	9.09	8.00	7.15
EPS (Diluted)	4.34	10.92	9.06	7.96	7.11
EPS Growth	-60.26%	20.53%	13.82%	11.96%	16.37%
Free Cash Flow	1,823	1,926	1,552	1,808	1,587
Free Cash Flow Per Share	8.96	9.46	7.55	8.75	7.64
Dividend Per Share	5.480	5.480	4.456	3.874	3.410
Dividend Growth	-	22.98%	15.02%	13.61%	8.12%
Gross Margin	33.55%	47.42%	44.77%	43.18%	45.19%
Operating Margin	12.58%	26.72%	22.72%	21.56%	22.91%
Profit Margin	7.55%	19.83%	16.68%	15.79%	16.47%
Free Cash Flow Margin	15.59%	17.19%	13.90%	17.36%	17.69%
EBITDA	1,975	3,448	2,956	2,626	2,370
EBITDA Margin	16.89%	30.78%	26.48%	25.20%	26.42%
D&A For EBITDA	503.7	455.26	419.82	378.96	315
EBIT	1,471	2,993	2,536	2,247	2,055
EBIT Margin	12.58%	26.72%	22.72%	21.56%	22.91%
Effective Tax Rate	27.26%	10.21%	14.28%	14.20%	17.49%
Advertising Expenses	611.95	600.09	604.85	517.68	511.8

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.