Post(POST) - 2026 Q1 - Quarterly Results

Financial Performance - Net sales for the first quarter were $2,174.6 million, a 10.1% increase from $1,974.7 million in the prior year, including $224.6 million from acquisitions[5] - Operating profit was $238.4 million, an 11.3% increase compared to $214.1 million in the prior year[6] - Net earnings decreased by 14.6% to $96.8 million from $113.3 million in the prior year[7] - Adjusted EBITDA was $418.2 million, a 13.1% increase from $369.9 million in the prior year[9] - Net sales for the three months ended December 31, 2025, were $2,174.6 million, an increase of 10.1% compared to $1,974.7 million in the same period of 2024[32] - Gross profit for the same period was $638.5 million, up from $595.3 million, reflecting a gross margin improvement[32] - Operating profit increased to $238.4 million from $214.1 million, indicating a growth of 11.3% year-over-year[32] - Net earnings for the three months ended December 31, 2025, were $96.8 million, a decrease from $113.3 million in the prior year[32] Segment Performance - Post Consumer Brands segment net sales increased by 14.5% to $1,103.8 million, including $217.2 million from 8th Avenue[10] - Foodservice segment net sales rose by 8.5% to $669.1 million, with a segment profit increase of 36.5% to $117.5 million[11] - Refrigerated Retail segment net sales were flat at $266.6 million, but segment profit increased by 25.6% to $30.4 million[12] - The Post Consumer Brands segment reported net sales of $1,103.8 million, up from $963.9 million, showing strong growth in this category[38] - Segment Profit for Post Consumer Brands was $131.0 million, representing 13.6% of Net Sales[61] - Adjusted EBITDA for the same segment was $204.8 million, accounting for 21.2% of Net Sales[61] - Segment Profit for Refrigerated was $86.1 million, which is 14.0% of Net Sales[61] - Adjusted EBITDA for Refrigerated was $116.8 million, representing 18.9% of Net Sales[61] - Segment Profit for Retail was $24.2 million, equating to 9.1% of Net Sales[61] - Adjusted EBITDA for Retail was $41.6 million, which is 15.6% of Net Sales[61] Outlook and Guidance - The company raised its fiscal year 2026 Adjusted EBITDA outlook to $1,550-$1,580 million from a previous range of $1,500-$1,540 million[19] - Adjusted EBITDA outlook for fiscal year 2026 is expected to be positively impacted by the 8th Avenue acquisition, excluding the pasta business[27] - Capital expenditures for fiscal year 2026 are expected to range between $350-$390 million, including investments in cage-free egg facility expansion[19] Cash Flow and Debt - Cash provided by operating activities was $235.7 million, down from $310.4 million in the same quarter of 2024[36] - Total assets decreased to $12,984.3 million from $13,528.4 million as of September 30, 2025[34] - Long-term debt increased slightly to $7,457.9 million from $7,421.7 million, indicating a stable leverage position[34] - Net cash provided by operating activities for Q4 2025 was $235.7 million, down from $310.4 million in Q4 2024[62] - Free Cash Flow for Q4 2025 was $119.3 million, compared to $171.4 million in Q4 2024[62] Adjustments and Costs - Adjusted Net Earnings for Q4 2025 were $123.7 million, compared to $111.9 million in Q4 2024, reflecting a year-over-year increase of approximately 10.4%[52] - Adjusted EBITDA for Q4 2025 was $418.2 million, up from $369.9 million in Q4 2024, representing a growth of about 13.0%[57] - Adjusted EBITDA as a percentage of Net Sales increased to 19.2% in Q4 2025 from 18.7% in Q4 2024, indicating improved operational efficiency[57] - Total Net Adjustments for Q4 2025 amounted to $38.9 million, compared to a negative adjustment of $1.2 million in Q4 2024[52] - The company incurred $22.6 million in debt premiums paid in Q4 2025, significantly higher than $4.4 million in Q4 2024[52] - Restructuring and facility closure costs in Q4 2025 were $23.0 million, compared to $3.6 million in Q4 2024, indicating increased restructuring activities[52] - The company reported a loss on the sale of business of $9.7 million in Q4 2025, while there were no such losses reported in Q4 2024[52] - Integration costs for Q4 2025 were $4.3 million, down from $15.6 million in Q4 2024, suggesting a decrease in integration-related expenses[52] - The income tax effect on adjustments for Q4 2025 was $12.0 million, compared to $0.2 million in Q4 2024, reflecting a significant increase in tax-related adjustments[52] Corporate Strategy - The company is focused on new product introductions and market expansion strategies to enhance competitive positioning[30] - General corporate expenses and other for Q4 2025 totaled $(37.3) million[61] - Integration costs for the period were $15.6 million[61]