Hershey (HSY) FY2022 results: revenue $10.4 billion, up 16.1% on the year
Hershey Co. (HSY) reported revenue of $10.4 billion for fiscal 2022, the year ended 31 December 2022, up 16.1% on the year before. Net income was $1.6 billion, up 11.3%, and diluted earnings per share $7.96. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2023.
Revenue
$10.4 billion
+16.1% on the year
FY2015FY2022
Operating margin
21.7%
22.8% a year earlier
FY2015FY2022
Net income
$1.6 billion
+11.3% on the year
FY2015FY2022
Diluted EPS
$7.96
+12.0% on the year
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ 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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
2,328
2,083
1,700
+11.8%
Capital expenditure
519
496
442
+4.8%
Free cash flow
1,808
1,587
1,258
+13.9%
Free cash flow margin
17.4%
17.7%
15.4%
Cash from investing
-787
-2,223
-531
Cash from financing
-1,416
-681
-499
Depreciation and amortisation
379
315
295
+20.3%
Share-based compensation
66.0
66.7
57.6
-1.1%
Buybacks
389
458
211
-15.1%
Dividends paid
775
686
641
+13.0%
Diluted shares, weighted
207m
208m
209m
-0.6%
Shares outstanding at period end
205m
206m
208m
-0.6%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
3,300
2,757
2,234
+19.7%
Non-controlling interest
n/a
0.0
3.5
Debt
4,791
5,029
4,603
-4.7%
Operating lease liabilities
295
311
182
-5.2%
Finance lease liabilities
69.2
65.6
75.9
+5.5%
Other liabilities
2,494
2,250
2,034
+10.9%
Total liabilities and equity
10,949
10,412
9,132
+5.2%
Fixed assets
2,770
2,586
2,285
+7.1%
Goodwill
2,607
2,633
1,988
-1.0%
Intangible assets
1,966
2,038
1,295
-3.5%
Cash and equivalents
464
329
1,144
+40.9%
Receivables
711
671
615
+5.9%
Inventory
1,173
989
964
+18.7%
Other assets
1,258
1,166
840
+7.9%
Total assets
10,949
10,412
9,132
+5.2%
10-K for the year ended 31 December 2022, filed 17 February 2023: the filing.