Hershey (HSY) FY2012 results: revenue $6.6 billion, up 9.3% on the year
Hershey Co. (HSY) reported revenue of $6.6 billion for fiscal 2012, the year ended 31 December 2012, up 9.3% on the year before. Net income was $661 million, up 6.3%. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2013.
Revenue
$6.6 billion
+9.3% on the year
FY2007FY2012
Operating margin
25.7%
17.4% a year earlier
FY2007FY2012
Net income
$661 million
+6.3% on the year
FY2007FY2012
Diluted EPS
n/a
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
6,644
6,081
5,671
+9.3%
Cost of revenue
3,784
3,549
3,256
+6.6%
Gross profit
2,860
2,532
2,415
+13.0%
Gross margin
43.0%
41.6%
42.6%
Research and development
39.0
33.2
31.1
+17.5%
Selling, general and administrative
1,704
1,478
1,426
+15.3%
Operating income
1,708
1,055
905
+61.8%
Operating margin
25.7%
17.4%
16.0%
Interest expense
98.5
94.8
97.7
+3.9%
Pre-tax income
1,016
963
809
+5.5%
Income tax
355
334
299
+6.2%
Effective tax rate
34.9%
34.7%
37.0%
Net income
661
622
510
+6.3%
Net margin
9.9%
10.2%
9.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
1,095
588
901
+86.2%
Capital expenditure
259
324
180
-20.1%
Free cash flow
836
264
722
+216.8%
Free cash flow margin
12.6%
4.3%
12.7%
Cash from investing
-473
-340
-199
Cash from financing
-587
-439
-71.1
Depreciation and amortisation
210
216
197
-2.7%
Share-based compensation
50.5
43.5
49.5
+16.1%
Buybacks
511
385
169
+32.8%
Dividends paid
341
304
283
+12.2%
Diluted shares, weighted
228m
229,919
230,313
+99,211.9%
Shares outstanding at period end
224m
225m
227m
-0.6%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
1,037
857
902
+20.9%
Non-controlling interest
11.6
23.6
35.3
-50.8%
Short-term borrowings
n/a
n/a
24.1
Debt
1,907
1,888
1,803
+1.0%
Other liabilities
1,800
1,643
1,508
+9.5%
Total liabilities and equity
4,755
4,412
4,273
+7.8%
Fixed assets
1,674
1,560
1,438
+7.3%
Goodwill
588
517
524
+13.8%
Intangible assets
215
112
123
+91.9%
Cash and equivalents
728
694
885
+5.0%
Receivables
461
399
390
+15.5%
Inventory
633
649
534
-2.4%
Other assets
455
482
379
-5.5%
Total assets
4,755
4,412
4,273
+7.8%
10-K for the year ended 31 December 2012, filed 22 February 2013: the filing.