1305 ET - Hershey's earnings are likely to take a hit due to high cocoa prices and tariffs, Moody's Ratings says, lowering its outlook to negative from stable. Cocoa prices more than doubled in 2024 and remain elevated. Hershey has hedged some of these increases, but Moody's expects hedges locked in at higher cocoa prices will reduce profitability this year. Tariffs on cocoa imports and retaliatory duties from Canada will also pressure earnings, Moody's says. Hershey has said it plans to increase prices to offset new costs, but Moody's believes higher prices pose a risk of volumes declining and Hershey losing market share. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
July 01, 2025 13:05 ET (17:05 GMT)
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