Hershey (HSY) FY2013 results: revenue $7.1 billion, up 7.6% on the year
Hershey Co. (HSY) reported revenue of $7.1 billion for fiscal 2013, the year ended 31 December 2013, up 7.6% on the year before. Net income was $820 million, up 24.1%. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2014.
Revenue
$7.1 billion
+7.6% on the year
FY2007FY2013
Operating margin
18.7%
25.7% a year earlier
FY2007FY2013
Net income
$820 million
+24.1% on the year
FY2007FY2013
Diluted EPS
n/a
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
7,146
6,644
6,081
+7.6%
Cost of revenue
3,865
3,784
3,549
+2.1%
Gross profit
3,281
2,860
2,532
+14.7%
Gross margin
45.9%
43.0%
41.6%
Research and development
47.6
39.0
33.2
+22.1%
Selling, general and administrative
1,923
1,704
1,478
+12.8%
Operating income
1,338
1,708
1,055
-21.6%
Operating margin
18.7%
25.7%
17.4%
Interest expense
91.5
98.5
94.8
-7.1%
Pre-tax income
1,251
1,016
963
+23.2%
Income tax
431
355
334
+21.5%
Effective tax rate
34.4%
34.9%
34.7%
Net income
820
661
622
+24.1%
Net margin
11.5%
9.9%
10.2%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
1,191
1,095
588
+8.8%
Capital expenditure
324
259
324
+25.1%
Free cash flow
868
836
264
+3.8%
Free cash flow margin
12.1%
12.6%
4.3%
Cash from investing
-352
-473
-340
Cash from financing
-447
-587
-439
Depreciation and amortisation
201
210
216
-4.3%
Share-based compensation
54.0
50.5
43.5
+6.9%
Buybacks
306
511
385
-40.2%
Dividends paid
394
341
304
+15.4%
Diluted shares, weighted
227m
228m
229,919
-0.5%
Shares outstanding at period end
224m
224m
225m
+0.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,605
1,037
857
+54.8%
Non-controlling interest
11.2
11.6
23.6
-3.5%
Debt
1,962
1,907
1,888
+2.9%
Other liabilities
1,779
1,800
1,643
-1.1%
Total liabilities and equity
5,357
4,755
4,412
+12.7%
Fixed assets
1,805
1,674
1,560
+7.8%
Goodwill
577
588
517
-1.9%
Intangible assets
195
215
112
-9.1%
Investments
0.0
n/a
n/a
Cash and equivalents
1,119
728
694
+53.6%
Receivables
478
461
399
+3.6%
Inventory
660
633
649
+4.1%
Other assets
524
455
482
+15.2%
Total assets
5,357
4,755
4,412
+12.7%
10-K for the year ended 31 December 2013, filed 21 February 2014: the filing.