Post Holdings' Q3 sales hit by fall in egg revenue
Post booked higher underlying sales from active nutrition, which includes bars
Post Holdings, the US breakfast cereal, eggs and protein shakes group, has recorded a 4% fall in underlying third-quarter net sales amid what it called "an anticipated decline" from the company's Michael Foods Group division.
In the three months to the end of June, Post's net sales were US$1.25bn, up 2.8% on a year earlier, thanks to the recent acquisitions of breakfast cereal business MOM Brands and egg supplier Williamette Egg Farms.
However, on a comparable basis, net sales declined 4.1%. Post's Michael Foods Group, which houses egg, potato, cheese and pasta businesses, saw its net sales drop 8.3% to $46.7m. Comparable net sales slid 11.5% amid lower prices for eggs sold at retail and eggs as an ingredient. The division saw its profitability improve.
Post Holdings said it saw its group adjusted EBITDA grow over 23.2% to $231m during the period. Adjusted EBITDA excludes factors like non-cash mark-to-market adjustments on interest rate swaps, M&A and integration costs, as well as restructuring charges.
Adjusted net earnings were $49.7m, versus $16.3m a year earlier.
Canadean's "Michael Foods Group, Inc.: Consumer Packaged Goods - Company Profile & SWOT Analysis" contains in depth information and data about the company and its operations....
Plimsoll Publishing’s Breakfast Cereal Manufacturers (GLOBAL) Analysis provides a detailed overview of the UK Breakfast Cereal Manufacturers (GLOBAL) market and delivers a comprehensive individual ana...
- Price an underlying tension across European FMCG
- Interview: UK trade body on Brexit's policy impact
- Danone's Q3 sales - what the analysts say
- Interview: UK trade body on the impact of Brexit
- It won't just be Unilever to push for Brexit hikes
- Nestle lowers outlook on "softer environment"
- Bel takes majority stake in MOM Group
- Mars launches Maltesers in the US
- Abbott sees international nutrition sales fall
- Online snack seller Graze makes US retail debut
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Omega-3 in Food and Beverage:Time for a Reboot?
- Global Food Packaging: Innovating for Greater Convenience and Quality Image
- Packaged Food: Quarterly Statement Q3 2016
- Constellation Brands, Inc. (STZ) - Financial and Strategic SWOT Analysis Review