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.
Go deeper with GlobalData
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.
See Also:
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
