Hershey's Sweet Fare Remains the Rage, Even as Cost Pressures Prove Unrelenting; Shares Rich

While consumers are facing mounting costs in a number of facets of their lives, this has yet to tame their appetite for confectionery and snacking fare, as evidenced by Hershey’s stellar third-quarter top-line marks. Organic sales popped nearly 12% (reflecting almost 8% higher prices and around a 4% benefit from increased volumes and favorable mix), with growth across its domestic confectionery (up 10.7% organically) and salty snacks (21.5%) lineup. We see this as a byproduct of Hershey’s unwavering commitment to invest to support its business long term.