Hershey (HSY) FY2017 results: revenue $7.5 billion, up 1.0% on the year
Hershey Co. (HSY) reported revenue of $7.5 billion for fiscal 2017, the year ended 31 December 2017, up 1.0% on the year before. Net income was $783 million, up 8.7%, and diluted earnings per share $3.66. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$7.5 billion
+1.0% on the year
FY2010FY2017
Operating margin
17.5%
16.9% a year earlier
FY2010FY2017
Net income
$783 million
+8.7% on the year
FY2010FY2017
Diluted EPS
$3.66
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
7,515
7,440
7,387
+1.0%
Cost of revenue
4,060
4,271
4,004
-4.9%
Gross profit
3,455
3,170
3,383
+9.0%
Gross margin
46.0%
42.6%
45.8%
Research and development
45.9
47.3
49.3
-3.0%
Selling, general and administrative
1,885
1,891
1,945
-0.3%
Operating income
1,313
1,255
1,076
+4.6%
Operating margin
17.5%
16.9%
14.6%
Interest expense
100
91.9
109
+8.8%
Pre-tax income
1,111
1,099
902
+1.0%
Income tax
354
379
389
-6.7%
Effective tax rate
31.9%
34.5%
43.1%
Net income
783
720
513
+8.7%
Net margin
10.4%
9.7%
6.9%
Diluted EPS
$3.66
n/a
n/a
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,250
1,013
1,256
+23.3%
Capital expenditure
258
269
357
-4.4%
Free cash flow
992
744
900
+33.3%
Free cash flow margin
13.2%
10.0%
12.2%
Cash from investing
-329
-595
-477
Cash from financing
-844
-464
-797
Depreciation and amortisation
262
302
245
-13.2%
Share-based compensation
51.1
54.8
51.5
-6.8%
Buybacks
300
593
583
-49.3%
Dividends paid
526
499
476
+5.4%
Diluted shares, weighted
214m
n/a
n/a
Shares outstanding at period end
211m
212m
217m
-0.7%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
915
786
998
+16.5%
Non-controlling interest
16.2
41.8
49.5
-61.2%
Debt
2,920
2,980
2,421
-2.0%
Other liabilities
1,702
1,716
1,876
-0.9%
Total liabilities and equity
5,554
5,524
5,344
+0.5%
Fixed assets
2,107
2,177
2,240
-3.2%
Goodwill
821
812
684
+1.1%
Intangible assets
369
493
379
-25.1%
Investments
n/a
n/a
0.0
Cash and equivalents
380
297
347
+28.0%
Receivables
588
581
599
+1.2%
Inventory
753
746
751
+1.0%
Other assets
536
418
344
+28.1%
Total assets
5,554
5,524
5,344
+0.5%
10-K for the year ended 31 December 2017, filed 22 February 2019: the filing.