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Post Holdings, Inc. reports recurring developments for a consumer packaged goods holding company with businesses in ready-to-eat cereal, granola, pet food, nut butters, egg and potato products, side dishes, cheese, sausage and related food categories. Its news commonly covers quarterly operating results, Adjusted EBITDA outlook, segment performance across Post Consumer Brands, Weetabix, Foodservice and Refrigerated Retail, and updates tied to retail, foodservice and ingredient channels.
Company announcements also include completed portfolio actions, debt financing activity, shareholder voting matters and leadership changes at the corporate and business-unit levels. Recent corporate updates have referenced completed acquisitions integrated into Post Consumer Brands, Foodservice and Refrigerated Retail, as well as capital-structure actions involving senior notes and revolving credit facility repayment.
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Post Holdings, Inc. (NYSE:POST) announced plans to expand its Michael Foods manufacturing and distribution facility in Norwalk, Iowa. The expansion will add about 132,000 square feet to the existing 150,000 square-foot facility, which processes eggs and precooked egg products. Anticipated to create 186 new jobs, construction is set to start in July 2023 and aims for completion by December 2024. The expansion aligns with Post Holdings' commitment to meet growing customer demand for value-added egg products. The company expresses gratitude for support from local authorities in Norwalk and the Iowa Economic Development Authority.
Post Holdings, Inc. (NYSE:POST) announced a conference call on May 5, 2023, at 9:00 a.m. EST, to discuss its financial results for Q2 of fiscal year 2023 and provide an outlook for the fiscal year. The call will feature insights from Robert V. Vitale, CEO, and Matthew J. Mainer, CFO. Financial results for Q2 are set to be released after market close on May 4, 2023. Interested participants can register for the call and access the webcast on the company's Investor Relations page.
Post Holdings operates in various food categories, including ready-to-eat cereals and refrigerated foods. Its brands include Post Consumer Brands, Weetabix, Michael Foods, and Bob Evans Farms, positioning the company as a key player in consumer packaged goods.
Crystal Farms Dairy Company is launching new Gouda and Sharp Cheddar cheese sticks targeted towards adults, expanding its snack offerings in Midwest grocery stores. With a suggested retail price of $4.69, these new flavors aim to cater to adult taste preferences while promoting the idea that cheese sticks are a viable snack option for all ages. The new products will be available at retailers such as Cub Foods and Piggly Wiggly in Minnesota and Wisconsin starting March 15, 2023. Crystal Farms emphasizes its commitment to high-quality dairy sourcing from local Midwest farms.
Bob Evans Farms has released its first annual giving report, underscoring its charitable efforts over the past two years, including a total of $15.8 million in food and monetary donations. Despite COVID-19 challenges, the company increased its monetary giving by 3% from 2021 to 2022. The report highlights a significant increase in food donations, with over $14.4 million provided to food banks, marking a 132% rise from the previous year. Employee contributions totaled 525 hours of community service, demonstrating a strong commitment to philanthropy focused on diversity, equity, and inclusion.
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Post Consumer Brands has launched Sweet Dreams, a new ready-to-eat cereal aimed at promoting healthy sleep habits. Available in two flavors, Blueberry Midnight and Honey Moonglow, the cereal incorporates whole grains and a nighttime herbal blend, including chamomile and lavender.
Rich in vitamins and minerals like Zinc and B vitamins, Sweet Dreams is designed to support melatonin production. This product responds to growing consumer demand for self-care and relaxation routines, especially at bedtime. Sweet Dreams is set to be available in grocery stores nationwide.
Post Holdings has announced its acquisition of select pet food brands from The J.M. Smucker Co. for $1.2 billion, which includes well-known products such as Rachael Ray® Nutrish® and Kibbles ‘n Bits®. The transaction is positioned to be immediately accretive to Post's cash flow, excluding one-time costs, and is expected to generate approximately $100 million in adjusted EBITDA in the first year. The deal marks a significant entry into the pet food market, leveraging established brands and distribution channels. Post anticipates creating a new pet food platform and expects $30 million in annual cost synergies by the third fiscal year post-closing.
Post Holdings, a consumer packaged goods company, reported first fiscal quarter results for the period ending December 31, 2022. The company achieved net sales of $1.6 billion and an operating profit of $149.9 million. Net earnings from continuing operations reached $91.9 million, while Adjusted EBITDA was $269.9 million. Notably, Post raised its fiscal year 2023 Adjusted EBITDA guidance to between $1,025 million and $1,065 million, reflecting a positive outlook for the year.