Post Holdings reported robust revenue and profit growth in the fiscal fourth quarter, surpassing analysts' expectations. Here are the key details:
Sales
Post Holdings reported sales of $1.95 billion for the three months ended Sept. 30, exceeding analysts' projections of $1.94 billion (FactSet). This marked a significant increase from the reported revenue of $1.58 billion during the same period last year.
Adjusted Earnings Per Share
The St. Louis-based packaged goods holding company's earnings per share, excluding one-time items, reached $1.63. This exceeded analysts' expectations of $1.34 (FactSet).
Key Factors to Watch
Expenses
Following the acquisition of J.M. Smucker's pet food business, Post Holdings experienced a 16% increase in selling, general, and administrative expenses, amounting to $309.5 million.
Outlook
For fiscal 2024, the company anticipates adjusted EBITDA in the range of $1.20 billion to $1.26 billion. Additionally, capital expenditures are projected to be between $400 million and $425 million. This guidance includes a foodservice investment in expanding the Norwalk, Iowa precooked egg facility and initiating Phase II expansion of the Bloomfield, Nebraska cage-free egg facility, with a combined cost of $100 million to $110 million.
