Filing Flows › Hershey (HSY) › Q2 2025
Hershey (HSY) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 30, 2025
Hershey (HSY) reported revenue of $2.6B for the second quarter 2025 (Q2 2025), +26% from a year earlier and -7% from the quarter before. Operating margin was 7.4%, net earnings $62.7M (2.4% of revenue).
Hershey, Q2 2025: revenue $2.6B (+26% year over year), operating margin 7.4%, net earnings $62.7M, operating cash flow $112M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.6B | -7% | +26% |
| Gross profit | $796M | -16% | -4% |
| Operating profit | $193M | -48% | -33% |
| Net earnings | $62.7M | -72% | -65% |
| Operating cash flow | $112M | -72% | -66% |
| Free cash flow | $27.1M | -89% | -86% |
What changed
Revenue was $2.6B in Q2 2025, up 26% year over year and down 7% from the previous quarter.
Gross margin was 30.5%, down 9.7 points from a year earlier. Operating profit was $0.19B, a 7.4% margin (down 6.5 points year over year). Operating profit fell $0.10B even though revenue rose $0.54B versus a year earlier, so costs grew faster than sales. Operating expenses grew 11% against revenue growth of 26%. Net earnings were $0.06B, down 65% year over year. The effective tax rate was 57.9%.
Operating cash flow was $0.11B (down 66% year over year), 179% of net earnings. Non-cash charges added back $0.12B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.09B. Capital expenditures of $0.09B left free cash flow of $0.03B.
Questions
What was Hershey's revenue in the second quarter 2025?
Hershey (HSY) reported revenue of $2.6B for the second quarter 2025 (Q2 2025), +26% from a year earlier and -7% from the quarter before.
Was Hershey profitable in the second quarter 2025?
Operating profit was $193M (7.4% of revenue) and net earnings $62.7M.
Source: Hershey 10-Q on SEC EDGAR.