The Hershey Company (NYSE: HSY) reported strong second-quarter results on Thursday and raised guidance for full-year 2022 on the back of rising demand. Adjusted earnings grew 22.4% year-over-year to $1.80 a share, beating the Street’s estimate of $1.69 per share. Net sales rose 19.3% to $2.37 billion, driven by increased volume and prices across all segments. North America Confectionery segment’s net sales jumped nearly 13% year-over-year to $1.9 billion. Net sales of the North America Salty Snacks segment almost doubled to $256.3 million. The International segment’s net sales climbed 21.3% to $207.2 million. Adjusted gross margin fell 250 basis points to 43.
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