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How Hershey (HSY) makes money
Hershey (HSY) made $3.3B of revenue in the third quarter 2026 (Q3 2026), +3% from a year earlier. Of every dollar of revenue, 46¢ was left as gross profit, 25¢ was left as operating profit, 18¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $3.3B | 100.0% |
| Cost of revenue | $1.8B | 53.9% |
| Gross profit | $1.5B | 46.1% |
| Operating expenses | $693M | 21.2% |
| Operating profit | $818M | 25.0% |
| Income tax | $187M | 5.7% |
| Net earnings | $581M | 17.7% |
| Operating cash flow | $751M | 22.9% |
| Free cash flow | $650M | 19.8% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $3.3B | +3% |
| Q2 2026 | $2.8B | +7% |
| Q1 2026 | $3.1B | +11% |
| Q4 2025 | $3.1B | +7% |
| Q3 2025 | $3.2B | +6% |
| Q2 2025 | $2.6B | +26% |
| Q1 2025 | $2.8B | -14% |
From Hershey's 10-Q filed Oct 29, 2026 (on EDGAR).
Questions
How does Hershey make money?
Hershey (HSY) made $3.3B of revenue in the third quarter 2026 (Q3 2026), +3% from a year earlier. Of every dollar of revenue, 46¢ was left as gross profit, 25¢ was left as operating profit, 18¢ was left as net earnings.
What is Hershey's profit margin?
Net earnings were $581M, 17.7% of revenue, in the third quarter 2026; the operating margin was 25.0%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.