Post Holdings Inc NYSE POST Releases Fourth Quarter and Fiscal Year 2024 Financial Results
Intellectia.AI2024-11-15
Post Holdings, Inc. (NYSE: POST) Releases Fourth Quarter and Fiscal Year 2024 Financial Results
St. Louis, Nov. 14, 2024 — Post Holdings, Inc., a consumer packaged goods holding company, has announced its financial results for the fourth fiscal quarter and the fiscal year ending September 30, 2024.
Key Financial Metrics
| Metric | Fourth Quarter 2024 | Fourth Quarter 2023 | YoY Change | Fiscal Year 2024 | Fiscal Year 2023 | YoY Change |
|---|---|---|---|---|---|---|
| Net Sales | $2.01 billion | $1.95 billion | +3.3% | $7.92 billion | $6.99 billion | +13.3% |
| Operating Profit | $190.9 million | $153.0 million | +24.8% | $793.5 million | $598.9 million | +32.5% |
| Net Earnings | $81.6 million | $65.7 million | +24.2% | $366.7 million | $301.3 million | +21.7% |
| Diluted EPS | $1.28 | $1.01 | +26.7% | $5.64 | $4.82 | +17.0% |
| Adjusted EBITDA (Non-GAAP) | $348.7 million | $349.0 million | -0.1% | $1,403.6 million | $1,233.4 million | +13.8% |
The company reported solid financial performance, with notable increases in net sales and operating profit both year-over-year and quarter-over-quarter. However, the slight year-over-year decrease in Adjusted EBITDA for the fourth quarter suggests a tightening in underlying profitability.
Revenue Performance by Segment
| Segment | Fourth Quarter 2024 | YoY Change | Fiscal Year 2024 | YoY Change |
|---|---|---|---|---|
| Post Consumer Brands | $1,047.4 million | +3.9% | $4,109.6 million | +35.5% |
| Weetabix | $140.0 million | +3.8% | $543.2 million | +6.1% |
| Foodservice | $596.1 million | +4.7% | $2,307.1 million | -4.9% |
| Refrigerated Retail | $226.5 million | -2.9% | $962.2 million | -5.6% |
Post Consumer Brands experienced significant growth due to strategic acquisitions, notably Pet Food and Perfection, boosting annual revenue. The Weetabix segment also showed positive growth driven by the acquisition of Deeside. However, the Foodservice and Refrigerated Retail segments faced challenges, with decreased annual sales reflecting distribution losses and competitive pressures in some product categories.
Key Developments and Operational Highlights
- Completion of acquisitions of pet food businesses, including a portion of The J. M. Smucker Company's operations and Perfection Pet Foods, LLC.
- A new acquisition of Deeside Cereals in the Weetabix segment, expanding operations in the U.K.
- Executive promotion of Matt Mainer to Executive Vice President.
Management Commentary
CEO Robert V. Vitale highlighted strong operational execution, contributing to revenue growth from strategic acquisitions. The focus on increasing efficiencies and expanding market presence in core segments has yielded measurable results, with anticipated continued success into 2025.
Share Repurchase Program
Post Holdings repurchased 3 million shares worth $300.8 million in fiscal 2024, maintaining a strong commitment to returning value to shareholders, with $472.3 million remaining under its repurchase authorization as of November 14, 2024.
Forward Guidance
The company anticipates Adjusted EBITDA for fiscal 2025 to range between $1,410 million and $1,460 million, alongside capital expenditures of $380-$420 million focused on network optimization and facility expansions.
Stock Price Movement
Following the release of its earnings report, Post Holdings saw a stock price decrease of approximately 1.54%.
Post Holdings, Inc. continues to illustrate its position as a key player in the consumer packaged goods market, leveraging strategic acquisitions to bolster revenue growth while planning for future business expansion and capital investments.
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