The following is a summary of the The Hershey Company (HSY) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Hershey's organic sales in North American confectionary rose 2%, driven largely by strong seasons and innovation, notably with Reese's Caramel.

• Although facing increased costs owing to cocoa inflation, the company projects monetary savings due to its productivity and cost efficiency programs that could potentially total $700 million over the next three years.

• Profitability for the Salty business is expected to improve over the remainder of the year.

Business Progress:

• The company has seen success in gaining market share during seasonal events like Valentine's and Easter, due to an effective range of innovative products and greater supply capabilities.

• In the UK, Reese's has continued to perform positively, maintaining strong margins.

• Hershey remains focused on strategies to drive continued growth, innovation, and cost efficiency, despite a volatile market environment.

• Efforts to maintain affordable price points for lower-income consumers are continuing despite existing inflation rates.

More details: Hershey IR

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