Interested parties may join the conference call by dialing (800) 343-4136 in the United States and (203) 518- 9856 from outside of the United States. The conference identification number is POSTQ324. Interested parties are invited to listen to the webcast of the conference call, which can be accessed by visiting the Investors section of Post's website at www.postholdings.com. About Post Holdings, Inc. SOURCE Post Holdings, Inc. Post also announced it plans to release its financial results for the third quar ...

Over the past 60 days, the Zacks Consensus Estimate for earnings for the current fiscal year has risen by 1.6% to $5.61. This suggests growth of 5.1% from the year-ago levels, highlighting the company's potential and solid outlook. Additionally, consensus estimates for the next fiscal year indicate growth of 10.8% compared with the previous year. The Zacks Consensus Estimate for sales suggests an increase of 14.2% and 2% for the current and next fiscal year, respectively. Detailed Look at the Key Factors Th ...

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ST. LOUIS, May 29, 2024 (GLOBE NEWSWIRE) -- Post Holdings, Inc. (NYSE:POST), a consumer packaged goods holding company, today provided information regarding avian influenza incidents at two of Michael Foods' third-party contracted egg-laying facilities. Post also affirmed its non-GAAP Adjusted EBITDA guidance for fiscal year 2024. Avian Influenza Discussion Michael Foods' third-party contracted egg-laying flocks in Minnesota and Iowa tested positive for avian influenza. The facilities house approximately 5. ...

ST. LOUIS, May 29, 2024 (GLOBE NEWSWIRE) -- Post Holdings, Inc. (NYSE:POST), a consumer packaged goods holding company, today provided information regarding avian influenza incidents at two of Michael Foods' third-party contracted egg-laying facilities. Post also affirmed its non-GAAP Adjusted EBITDA guidance for fiscal year 2024. Avian Influenza Discussion Michael Foods' third-party contracted egg-laying flocks in Minnesota and Iowa tested positive for avian influenza. The facilities house approximately 5. ...

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both. The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor. Zacks Premium includes access to the Zacks Style Scores as well. What are the Zacks Style S ...

What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days. Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform. The Styl ...

Post Holdings, Inc. (NYSE:POST) Q2 2024 Earnings Call Transcript May 3, 2024 9:00 AM ET Company Participants Daniel O'Rourke - Investor Relations Robert Vitale - President and Chief Executive Officer Jeff Zadoks - Executive Vice President and Chief Operating Officer Matt Mainer - Senior Vice President, Chief Financial Officer and Treasurer Conference Call Participants Andrew Lazar - Barclays Michael Lavery - Piper Sandler David Palmer - Evercore ISI Ken Goldman - JPMorgan Robert Dickerson - Jefferies Marc T ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 __________________ FORM 10-Q __________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 Commission File Number: 1-35305 Post Holdings, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Missouri 45-3355106 (I.R.S. Employer Identification No.) 2503 S. Han ...

[Financial Highlights and Outlook](index=1&type=section&id=Financial%20Highlights%20and%20Outlook) This section provides an overview of Post Holdings' financial performance for the second quarter of fiscal year 2024 and its updated outlook for the full fiscal year [Second Quarter Fiscal 2024 Highlights](index=1&type=section&id=Second%20Quarter%20Fiscal%202024%20Highlights) Post Holdings reported strong second-quarter fiscal 2024 results, with net sales reaching $2.0 billion and net earnings of $97.2 million, reflecting robust operational performance and contributions from recent acquisitions Q2 FY2024 Key Metrics | Metric | Value (in millions) | | :--- | :--- | | Net Sales | $2,000.0 | | Operating Profit | $190.1 | | Net Earnings | $97.2 | | Adjusted EBITDA | $345.2 | [Fiscal Year 2024 Outlook](index=4&type=section&id=Fiscal%20Year%202024%20Outlook) The company has raised its fiscal year 2024 Adjusted EBITDA guidance to a range of $1,335-$1,375 million, up from the previous $1,290-$1,340 million, with capital expenditures projected between $420-$445 million for facility expansions and pet food integration - Raised fiscal year 2024 **Adjusted EBITDA guidance to $1,335-$1,375 million**[26](index=26&type=chunk) - Fiscal year 2024 **capital expenditures are expected to range between $420-$445 million**[26](index=26&type=chunk) - Significant investments include **$100-$110 million for Foodservice facility expansions** and **$90-$100 million for Pet Food network investments**[26](index=26&type=chunk) [Consolidated Financial Performance](index=1&type=section&id=Consolidated%20Financial%20Performance) This section details Post Holdings' consolidated operating results for the second quarter and six months of fiscal year 2024, highlighting significant growth in net sales, gross profit, operating profit, and net earnings [Second Quarter Consolidated Operating Results](index=1&type=section&id=Second%20Quarter%20Consolidated%20Operating%20Results) For the second quarter, net sales grew 23.4% to $2.0 billion, largely driven by $467.9 million in sales from acquisitions, leading to a 40.1% increase in gross profit to $579.6 million and a 79.7% rise in net earnings to $97.2 million Q2 FY2024 vs Q2 FY2023 Consolidated Results (in millions) | Metric | Q2 2024 | Q2 2023 | % Change | | :--- | :--- | :--- | :--- | | Net Sales | $1,999.0 | $1,619.9 | +23.4% | | Gross Profit | $579.6 | $413.8 | +40.1% | | Operating Profit | $190.1 | $137.7 | +38.1% | | Net Earnings | $97.2 | $54.1 | +79.7% | | Adjusted EBITDA | $345.2 | $276.3 | +24.9% | - Net sales growth included a **$467.9 million contribution from recent acquisitions**, primarily in the Pet Food business[4](index=4&type=chunk) - Diluted earnings per common share increased to **$1.48 from $0.92** in the prior year period[7](index=7&type=chunk) [Six Month Consolidated Operating Results](index=2&type=section&id=Six%20Month%20Consolidated%20Operating%20Results) For the six months ended March 31, 2024, net sales increased by 24.4% to $3.96 billion, with gross profit growing 39.0% to $1.15 billion, operating profit rising 38.9% to $399.4 million, and net earnings increasing 26.9% to $185.3 million Six Months FY2024 vs FY2023 Consolidated Results (in millions) | Metric | Six Months 2024 | Six Months 2023 | % Change | | :--- | :--- | :--- | :--- | | Net Sales | $3,964.9 | $3,186.2 | +24.4% | | Gross Profit | $1,152.2 | $828.7 | +39.0% | | Operating Profit | $399.4 | $287.6 | +38.9% | | Net Earnings | $185.3 | $146.0 | +26.9% | | Adjusted EBITDA | $704.7 | $546.2 | +29.0% | - SG&A expenses for the six-month period included **$14.1 million of integration costs** related to the Pet Food acquisition and **$8.8 million in restructuring costs** for a facility closure[9](index=9&type=chunk) - Diluted earnings per common share for the six months were **$2.83**, compared to $2.44 in the prior year period[10](index=10&type=chunk) [Segment Performance](index=2&type=section&id=Segment%20Performance) This section provides a detailed analysis of the financial performance of Post Holdings' individual operating segments, including Post Consumer Brands, Weetabix, Foodservice, and Refrigerated Retail [Post Consumer Brands](index=2&type=section&id=Post%20Consumer%20Brands) The Post Consumer Brands segment saw a significant 77.9% increase in Q2 net sales to $1.07 billion, primarily due to $460.7 million from acquisitions, driving an 85.0% rise in segment profit to $139.7 million and a 74.0% increase in Segment Adjusted EBITDA to $199.0 million Post Consumer Brands Q2 Performance (in millions) | Metric | Q2 2024 | Q2 2023 | % Change | | :--- | :--- | :--- | :--- | | Net Sales | $1,065.5 | $599.1 | +77.9% | | Segment Profit | $139.7 | $75.5 | +85.0% | | Segment Adjusted EBITDA | $199.0 | $114.4 | +74.0% | - Acquisitions contributed **$460.7 million to net sales** in the second quarter[12](index=12&type=chunk) - Excluding acquisitions, volumes decreased by **3.9%**, driven by declines in non-retail cereal and peanut butter[12](index=12&type=chunk) [Weetabix](index=2&type=section&id=Weetabix) The Weetabix segment reported a 10.5% increase in Q2 net sales to $138.0 million, aided by a 440 basis point foreign currency tailwind and the Deeside acquisition, though segment profit decreased by 6.7% to $18.1 million and Segment Adjusted EBITDA was nearly flat at $27.8 million Weetabix Q2 Performance (in millions) | Metric | Q2 2024 | Q2 2023 | % Change | | :--- | :--- | :--- | :--- | | Net Sales | $138.0 | $124.9 | +10.5% | | Segment Profit | $18.1 | $19.4 | -6.7% | | Segment Adjusted EBITDA | $27.8 | $28.0 | -0.7% | - Net sales growth was supported by a favorable foreign currency exchange rate tailwind of approximately **440 basis points** and **$7.2 million from the Deeside acquisition**[14](index=14&type=chunk) [Foodservice](index=3&type=section&id=Foodservice) The Foodservice segment experienced a 12.4% decline in Q2 net sales to $554.8 million, with volumes down 2.2% due to a slowdown in away-from-home demand for eggs, resulting in a 17.4% fall in segment profit to $64.5 million and a 7.5% decrease in Segment Adjusted EBITDA to $101.7 million Foodservice Q2 Performance (in millions) | Metric | Q2 2024 | Q2 2023 | % Change | | :--- | :--- | :--- | :--- | | Net Sales | $554.8 | $633.2 | -12.4% | | Segment Profit | $64.5 | $78.1 | -17.4% | | Segment Adjusted EBITDA | $101.7 | $110.0 | -7.5% | - Volumes decreased by **2.2%**, primarily driven by a decline in egg volumes, partially offset by an increase in potato volumes[17](index=17&type=chunk) [Refrigerated Retail](index=3&type=section&id=Refrigerated%20Retail) In the Refrigerated Retail segment, Q2 net sales decreased by 8.5% to $240.4 million, with volumes down 5.1% due to distribution losses in lower-margin egg and cheese products, though segment profit increased by 23.1% to $22.4 million and Segment Adjusted EBITDA grew 2.5% to $40.5 million Refrigerated Retail Q2 Performance (in millions) | Metric | Q2 2024 | Q2 2023 | % Change | | :--- | :--- | :--- | :--- | | Net Sales | $240.4 | $262.7 | -8.5% | | Segment Profit | $22.4 | $18.2 | +23.1% | | Segment Adjusted EBITDA | $40.5 | $39.5 | +2.5% | - Overall volumes decreased by **5.1%**, with egg volumes down **16.6%** and cheese volumes down **10.7%**, while sausage volumes grew **6.9%**[19](index=19&type=chunk)[47](index=47&type=chunk) [Other Financial Information](index=3&type=section&id=Other%20Financial%20Information) This section covers additional financial details, including interest expense, debt, swap performance, income tax rates, and share repurchase activities [Interest, Debt, Swaps, and Income Tax](index=3&type=section&id=Interest%20Debt%20Swaps%20and%20Income%20Tax) Net interest expense for Q2 2024 was $80.0 million, up from $63.8 million in the prior year, driven by higher debt and interest rates, while the company recorded a net income of $13.3 million on swaps compared to a $9.0 million expense last year, and the effective income tax rate for the quarter was 22.7% - Net interest expense increased to **$80.0 million in Q2 2024** from $63.8 million in Q2 2023, primarily due to lower interest income and higher average debt balances[21](index=21&type=chunk) - The company recorded income on swaps of **$13.3 million in Q2 2024**, a reversal from an expense of $9.0 million in the prior-year period[23](index=23&type=chunk) - The effective income tax rate for Q2 2024 was **22.7%**, compared to 25.4% in Q2 2023[24](index=24&type=chunk) [Share Repurchases](index=4&type=section&id=Share%20Repurchases) During the second quarter, Post repurchased 0.1 million shares for $8.1 million, with total repurchases amounting to 0.5 million shares for $44.8 million for the first six months of the fiscal year, leaving $377.8 million remaining under the share repurchase authorization as of April 30, 2024 Share Repurchase Activity | Period | Shares Repurchased (millions) | Cost (in millions) | Average Price | | :--- | :--- | :--- | :--- | | Q2 2024 | 0.1 | $8.1 | $103.88 | | Six Months Ended 3/31/24 | 0.5 | $44.8 | $87.23 | - As of April 30, 2024, Post had **$377.8 million remaining** under its share repurchase authorization[25](index=25&type=chunk) [Financial Statements and Non-GAAP Reconciliations](index=7&type=section&id=Financial%20Statements%20and%20Non-GAAP%20Reconciliations) This section presents the condensed consolidated financial statements, including statements of operations, balance sheets, and cash flows, along with detailed reconciliations of non-GAAP financial measures [Condensed Consolidated Financial Statements](index=7&type=section&id=Condensed%20Consolidated%20Financial%20Statements) The condensed consolidated financial statements provide detailed unaudited results, including the statements of operations, balance sheets, and cash flows for the three and six months ended March 31, 2024, compared to the prior year [Statements of Operations](index=7&type=section&id=Statements%20of%20Operations) The statement of operations shows a year-over-year increase in net sales to $1,999.0 million for the quarter and $3,964.9 million for the six-month period, with net earnings rising to $97.2 million and $185.3 million, respectively Condensed Consolidated Statements of Operations (in millions) | | Three Months Ended March 31, | Six Months Ended March 31, | | :--- | :--- | :--- | | | **2024** | **2023** | **2024** | **2023** | | **Net Sales** | **$1,999.0** | **$1,619.9** | **$3,964.9** | **$3,186.2** | | Gross Profit | $579.6 | $413.8 | $1,152.2 | $828.7 | | Operating Profit | $190.1 | $137.7 | $399.4 | $287.6 | | **Net Earnings** | **$97.2** | **$54.1** | **$185.3** | **$146.0** | | Diluted EPS | $1.48 | $0.92 | $2.83 | $2.44 | [Balance Sheets](index=8&type=section&id=Balance%20Sheets) As of March 31, 2024, total assets stood at $12.19 billion, up from $11.65 billion at September 30, 2023, with total liabilities increasing to $8.20 billion from $7.80 billion, while total shareholders' equity rose to $3.99 billion Condensed Consolidated Balance Sheets (in millions) | | March 31, 2024 | September 30, 2023 | | :--- | :--- | :--- | | Total Current Assets | $1,810.9 | $1,478.5 | | **Total Assets** | **$12,191.1** | **$11,646.7** | | Total Current Liabilities | $839.5 | $805.3 | | Long-term debt | $6,414.6 | $6,039.0 | | **Total Liabilities** | **$8,200.4** | **$7,795.4** | | **Total Shareholders' Equity** | **$3,990.7** | **$3,851.3** | [Cash Flows](index=9&type=section&id=Cash%20Flows) For the six months ended March 31, 2024, cash provided by operating activities was $424.0 million, a significant increase from $198.3 million in the prior year, while investing activities used $432.6 million and financing activities provided $237.1 million Condensed Consolidated Cash Flows (in millions) | Six Months Ended March 31, | 2024 | 2023 | | :--- | :--- | :--- | | Cash provided by operating activities | $424.0 | $198.3 | | Cash used in investing activities | $(432.6) | $(134.0) | | Cash provided by (used in) financing activities | $237.1 | $(161.7) | | **Net increase (decrease) in cash** | **$230.4** | **$(94.0)** | [Segment and Supplemental Information](index=9&type=section&id=Segment%20and%20Supplemental%20Information) This section provides a detailed breakdown of net sales and profit by operating segment for the three and six-month periods, along with supplemental volume percentage changes for the Refrigerated Retail segment, showing declines in egg and cheese but growth in sausage Q2 Net Sales by Segment (in millions) | Segment | Q2 2024 | Q2 2023 | | :--- | :--- | :--- | | Post Consumer Brands | $1,065.5 | $599.1 | | Weetabix | $138.0 | $124.9 | | Foodservice | $554.8 | $633.2 | | Refrigerated Retail | $240.4 | $262.7 | Refrigerated Retail Q2 Volume Change vs Prior Year | Product | Volume Percentage Change | | :--- | :--- | | Side dishes | (0.6%) | | Egg | (16.6%) | | Cheese | (10.7%) | | Sausage | 6.9% | [Reconciliation of Non-GAAP Measures](index=10&type=section&id=Reconciliation%20of%20Non-GAAP%20Measures) The report provides detailed reconciliations of GAAP measures to non-GAAP measures, such as Adjusted Net Earnings and Adjusted EBITDA, with Q2 2024 Net Earnings of $97.2 million reconciling to an Adjusted EBITDA of $345.2 million after various adjustments - The company uses non-GAAP measures like Adjusted EBITDA to evaluate underlying company performance, make financial decisions, and determine executive bonuses[28](index=28&type=chunk)[49](index=49&type=chunk) Q2 Reconciliation of Net Earnings to Adjusted EBITDA (in millions) | | Three Months Ended March 31, 2024 | | :--- | :--- | | **Net Earnings** | **$97.2** | | Income tax expense | $28.6 | | Interest expense, net | $80.0 | | Depreciation and amortization | $119.6 | | Non-cash stock-based compensation | $20.7 | | Other adjustments | $(0.9) | | **Adjusted EBITDA** | **$345.2** | [Disclosures](index=5&type=section&id=Disclosures) This section outlines important disclosures, including forward-looking statements and the various risks and uncertainties that could impact the company's future financial results [Forward-Looking Statements](index=5&type=section&id=Forward-Looking%20Statements) The report contains forward-looking statements regarding the company's fiscal year 2024 outlook for Adjusted EBITDA and capital expenditures, outlining numerous risks and uncertainties that could cause actual results to differ materially, including economic conditions, input cost volatility, supply chain disruptions, and the ability to integrate acquisitions - The report includes forward-looking statements concerning the fiscal year 2024 Adjusted EBITDA and capital expenditure outlook[32](index=32&type=chunk) - Key risks identified include consumer reaction to pricing, changes in economic conditions, volatility in input costs, supply chain disruptions, and successful integration of acquisitions like Pet Food[33](index=33&type=chunk)