Content analysis
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H.S. sophomore Avg
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New words:
AAA, Advancing, Agility, agricultural, automate, Automation, average, bean, butter, capability, Coast, cocoa, collect, composition, conclusion, constrain, corn, critical, crop, Cybersecurity, dairy, Declaration, delayed, delivery, denominated, description, deteriorate, diesel, discretion, disease, dynamic, economy, extreme, factor, fatigue, fuel, gas, Ghana, greater, harm, heightened, instruction, Intercontinental, Introduction, Ivory, legacy, liquor, living, manifested, moderation, momentum, necessarily, November, operationalized, Payment, percent, personnel, powder, Privacy, public, reconciling, section, separation, shipment, Speculative, substantially, sugar, Switzerland, tabular, thereof, ultimately, unable, unrest, usage, visibility, weather, wheat, wind, yield
Removed:
assigned, Bluffton, borrow, branded, build, building, buyback, carefully, criteria, customer, deep, detailed, discounted, earliest, expertise, extruded, filled, gluten, identifiable, Indiana, industry, IRI, life, LLC, modified, obtained, occur, pretzel, proportional, refinement, remained, scale, seasoned, subsequent, transaction, transform
Financial report summary
?Risks
- Increases in raw material and energy costs, along with the availability of adequate supplies of raw materials and our ability to successfully hedge against volatility in raw material pricing, could affect future financial results.
- Complications with the design, implementation or usage of our new enterprise resource planning system, including the ability to support post-implementation efforts and maintain enhancements, new features or modifications, could adversely impact our business and operations.
Management Discussion
- Net sales were $11,165.0 million in 2023 compared to $10,419.3 million in 2022, an increase of $745.7 million, or 7.2%. The net sales increase reflects a favorable price realization of 8.3% due to higher list prices across all segments and by a favorable impact from foreign currency exchange rates of 0.2%. These increases were slightly offset by a volume decrease of 1.3% due to a decrease in consumer demand primarily in everyday core U.S. confection brands.
- Net sales were $10,419.3 million in 2022 compared to $8,971.3 million in 2021, an increase of $1,448.0 million, or 16.1%. The net sales increase reflects a volume increase of 8.0% due to higher prices on certain products, a 4.3% benefit from net acquisitions and divestitures driven by the 2021 acquisitions of Lily’s, Dot’s and Pretzels and a volume increase of 4.0% due to an increase in consumer demand primarily in everyday core U.S. confection brands and salty snack brands. These increases were slightly offset by an unfavorable impact from foreign currency exchange rates of 0.2%.
- Key U.S. Marketplace Metrics