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EX - 99.1 2 exhibit991_2021xq1.htm EXHIBIT 99.1 - PRESS RELEASE DATED APRIL 29 , 2021 FINANCIAL CONTACT : Melissa Poole mpoole@hersheys.com HERSHEY Exhibit 99.1 MEDIA CONTACT : Allison Kleinfelter akleinfelter@hersheys.com Hershey Reports First - Quarter 2021 Financial Results ; Raises 2021 Net Sales and Earnings Outlook HERSHEY , Pa . , April 29 , 2021 - The Hershey Company ( NYSE : HSY ) today announced net sales and earnings for the first quarter ended April 4 , 2021 , and raised its full - year financial outlook . " We are off to an outstanding start in 2021 with broad - based growth across the portfolio leading to double digit sales and earnings growth in the first quarter and increased outlook for the full year , ” said Michele Buck , The Hershey Company President and Chief Executive Officer . “ As COVID - 19 vaccines roll out across the globe , consumers are optimistic about the future and looking forward to spending more time with their family , friends and community . As we have seen over our 127- year history , our portfolio of beloved brands plays an important role in these special moments of connection , comfort and happiness . We expect continued investments in our brands , capabilities and people along with our agility to respond to and capitalize on marketplace opportunities , to drive sustainable , advantaged performance not only in 2021 , but in years to come as well . " First - Quarter 2021 Financial Results Summary¹ • Consolidated net sales of $ 2,295.9 million , an increase of 12.7 % . • Organic , constant currency net sales increased 12.9 % . • Divestitures and foreign currency exchange each had a 0.1 point negative impact on net sales.² • Reported net income of $ 395.8 million , or $ 1.90 per share - diluted , an increase of 47.3 % . • Adjusted earnings per share - diluted of $ 1.92 , an increase of 17.8 % . 1 All comparisons for the first quarter of 2021 are with respect to the first quarter ended March 29 , 2020 2 Reflects the 2020 divestitures of KRAVE Pure Foods , Inc. ( Krave ) and the Scharffen Berger and Dagoba brands