The Hershey Co is expected to report Q1 2026 revenue of $3.03 billion and earnings of $2.08 per share, as the stock trades at $188.77, roughly 13% below the consensus analyst price target of $216.44.
Investors are primarily focused on the inflection of adjusted gross margins as the company begins to realize the benefits of lower cocoa input costs.
While spot cocoa prices crashed over 70% from their 2024 peak, Hershey’s 12-to-18-month hedging cycle has delayed the P&L recovery until this year. Analysts are closely watching for signs that aggressive pricing strategies from 2025 have stabilized confectionery volumes without further alienating budget-conscious consumers.