News Summary

• Sugar futures (SB=F) are up nearly 4% compared to a year ago, after jumping 40% year over year in early November..
• "We emerged incrementally more cautious about Q4 2023 and next year ... and we are starting to think that consensus’ estimate for a flattish gross margin next year is highly optimistic," Goldman wrote in a note to clients.Hershey reiterated its 2023 full-year outlook last quarter..
• "There has been volatility, especially with the weather patterns," Andraia Torsiello, Mintec US sugar analyst, told Yahoo Finance over the phone, adding that "supply availability has improved year over year..
• It expects net sales growth of roughly 8%, earnings per share growth of 13%-15%, and adjusted earnings per share growth of 11%-12%.Higher prices for two much-needed ingredients — sugar and cocoa — aren't helping its outlook.Sugar prices have been on a roller coaster, even though they're coming down..
• Sadler said companies are finally able to move past woes of the pandemic like supply chain issues and shortages and focus on creating new offerings.Oreo maker Mondelez (MDLZ) has done innovation right, per Morningstar director Erin Lash..
• "While many factors have evolved in line with our expectations, we are seeing consumers continue to display stronger-than-anticipated value-seeking behaviors across our key markets," Harmening said on a call with investors.Innovation, though, will be a key differentiator in bringing in new customers..