The Hershey Company reported its third quarter 2024 financial results, revealing a decline in net sales and earnings. The company's adjusted earnings per share (EPS) was $2.34, falling short of analyst expectations of $2.56, and represented a 10% decrease year-over-year. Revenue for the quarter totaled $2.99 billion, also below the anticipated $3.07 billion, marking a 1.4% decline compared to the previous year. The net income was reported at $446.3 million, a decrease of 12.7%. Additionally, Hershey's CEO acknowledged that the results were impacted by historically high cocoa prices and a challenging consumer environment. The company has revised its full-year earnings outlook, now projecting adjusted EPS between $9.00 and $9.10, down from previous estimates of $9.49 to $9.59. This disappointing performance has led to a decline in the company's stock, which was down 2.7% in pre-market trading.