Post Holdings Reports Results for the Fourth Quarter and Fiscal Year 2025
Post Holdings (NYSE:POST) reported fourth-quarter and fiscal year 2025 results for the period ended September 30, 2025.
Key fourth-quarter figures: net sales $2.247B, operating profit $168.4M, net earnings $51.0M, and Adjusted EBITDA $425.4M. Fiscal-year results: net sales $8.158B, operating profit $799.3M, net earnings $335.7M, and Adjusted EBITDA $1,538.8M. Management expects fiscal 2026 Adjusted EBITDA $1,500–$1,540M and capex $350–$390M.
Notable operational items: acquisition of 8th Avenue closed July 1, 2025; acquisition of PPI closed March 3, 2025; recorded a $29.8M goodwill impairment in Q4; repurchased 6.4M shares for $708.5M in fiscal 2025 with $282.6M remaining authorization.
Post Holdings (NYSE:POST) ha riportato i risultati del quarto trimestre e dell'anno fiscale 2025 per il periodo terminato il 30 settembre 2025.
Principali cifre del quarto trimestre: vendite nette $2.247B, utile operativo $168.4M, utile netto $51.0M, e EBITDA rettificato $425.4M. Risultati dell'anno fiscale: vendite nette $8.158B, utile operativo $799.3M, utile netto $335.7M, e EBITDA rettificato $1,538.8M. La direzione prevede EBITDA rettificato per l'anno fiscale 2026 tra $1,500–$1,540M e capex $350–$390M.
Voci operative notevoli: acquisizione di 8th Avenue chiusa il 1 luglio 2025; acquisizione di PPI chiusa il 3 marzo 2025; registrata una svalutazione del goodwill di $29.8M nel Q4; riacquistate 6.4M azioni per $708.5M nel 2025 con un'autorizzazione residua di $282.6M.
Post Holdings (NYSE:POST) publicó los resultados del cuarto trimestre y del año fiscal 2025 para el periodo terminado el 30 de septiembre de 2025.
Cifras clave del cuarto trimestre: ventas netas $2.247B, utilidad operativa $168.4M, utilidad neta $51.0M, y EBITDA ajustado $425.4M. Resultados del año fiscal: ventas netas $8.158B, utilidad operativa $799.3M, utilidad neta $335.7M, y EBITDA ajustado $1,538.8M. La gerencia espera EBITDA ajustado para el año fiscal 2026 entre $1,500 y $1,540M y CAPEX $350–$390M.
Items operativos notables: adquisición de 8th Avenue cerró el 1 de julio de 2025; adquisición de PPI cerró el 3 de marzo de 2025; se registró una impairment de goodwill de $29.8M en el Q4; recompró 6.4M acciones por $708.5M en el año fiscal 2025 con una autorización restante de $282.6M.
포스트 홀딩스(Post Holdings, NYSE:POST)가 2025년 9월 30일로 끝난 2025 회계연도 및 제4분기 실적을 발표했습니다.
제4분기 주요 수치: 순매출 $2.247B, 영업이익 $168.4M, 순이익 $51.0M, 및 조정 EBITDA $425.4M. 회계연도 결과: 순매출 $8.158B, 영업이익 $799.3M, 순이익 $335.7M, 및 조정 EBITDA $1,538.8M. 경영진은 2026 회계연도 조정 EBITDA $1,500–$1,540M 및 CAPEX $350–$390M를 예상합니다.
주요 운영 항목: 8th Avenue 인수는 2025년 7월 1일에 마감; PPI 인수는 2025년 3월 3일에 마감; Q4에 무형자산의 2980만 달러의 영업권 손상이 기록되었고; 2025 회계연도에 6.4M 주를 $708.5M에 재매입했으며 남은 실행허가액은 $282.6M입니다.
Post Holdings (NYSE:POST) a publié les résultats du quatrième trimestre et de l'exercice 2025 pour la période se terminant le 30 septembre 2025.
Chiffres clés du quatrième trimestre : ventes nettes 2,247 Md$, profit opérationnel 168,4 M$, bénéfice net 51,0 M$, et EBITDA ajusté 425,4 M$. Résultats de l'exercice : ventes nettes 8,158 Md$, profit opérationnel 799,3 M$, bénéfice net 335,7 M$, et EBITDA ajusté 1 538,8 M$. La direction prévoit EBITDA ajusté pour l'exercice 2026 entre 1 500 et 1 540 M$ et CAPEX entre 350 et 390 M$.
Éléments opérationnels notables : acquisition de 8th Avenue clôturée le 1er juillet 2025 ; acquisition de PPI clôturée le 3 mars 2025 ; comptabilisation d'une amortissement exceptionnel de goodwill de 29,8 M$ au T4 ; rachat de 6,4 M d'actions pour 708,5 M$ en 2025 avec une autorisation restante de 282,6 M$.
Post Holdings (NYSE:POST) hat die Ergebnisse des vierten Quartals und des Geschäftsjahres 2025 für den Zeitraum zum 30. September 2025 bekannt gegeben.
Wichtige Quartalszahlen: Nettoverkäufe $2.247B, Operativer Gewinn $168.4M, Nettoeinkommen $51.0M, und anpasstes EBITDA $425.4M. Geschäftsjahresergebnisse: Nettoverkäufe $8.158B, Operativer Gewinn $799.3M, Nettoeinkommen $335.7M, und anpasstes EBITDA $1,538.8M. Das Management erwartet anpasstes EBITDA für das Geschäftsjahr 2026 zwischen $1,500–$1,540M und CAPEX $350–$390M.
Zu den bemerkenswerten betrieblichen Posten: Übernahme von 8th Avenue abgeschlossen am 1. Juli 2025; Übernahme von PPI abgeschlossen am 3. März 2025; im Q4 eine Wertminderungsaufwand für Goodwill von $29.8M verbucht; in dem Geschäftsjahr 2025 wurden 6.4M Aktien für $708.5M zurückgekauft mit einer verbleibenden Genehmigung von $282.6M.
Post Holdings (NYSE:POST) أعلنت عن نتائج الربع الرابع والسنة المالية 2025 للفترة المنتهية في 30 سبتمبر 2025.
الأرقام الرئيسية للربع الرابع: المبيعات الصافية 2.247 مليار دولار، الربح التشغيلي 168.4 مليون دولار، صافي الربح 51.0 مليون دولار، و EBITDA المعدلة 425.4 مليون دولار. نتائج السنة المالية: المبيعات الصافية 8.158 مليار دولار، الربح التشغيلي 799.3 مليون دولار، صافي الربح 335.7 مليون دولار، و EBITDA المعدلة 1,538.8 مليون دولار. تتوقع الإدارة EBITDA المعدلة للسنة المالية 2026 بين 1,500 و1,540 مليون دولار و إنفاق رأس المال CAPEX بين 350 و390 مليون دولار.
بنود تشغيلية جديرة بالذكر: استحواذ على 8th Avenue أُغلق في 1 يوليو 2025؛ استحواذ على PPI أُغلق في 3 مارس 2025؛ تم تسجيل إطفاء قيمة goodwill بمقدار 29.8 مليون دولار في الربع الرابع؛ أعادت الشركة شراء 6.4 مليون سهماً بقيمة 708.5 مليون دولار في السنة المالية 2025 مع تفويض متبقٍ قدره 282.6 مليون دولار.
- Fiscal Adjusted EBITDA +9.6% to $1,538.8M
- Adjusted diluted EPS rose to $7.23 from $6.27 (+15%)
- Foodservice net sales +14.5% year-over-year
- Foodservice Adjusted EBITDA +22.4% year-over-year
- Share repurchases 6.4M shares for $708.5M in fiscal 2025
- Q4 net earnings down 37.5% to $51.0M
- Q4 operating profit declined 11.8% to $168.4M
- Post Consumer Brands volumes down 11.5% excluding 8th Avenue
- Pet food volumes decreased 13.2% in Q4
- Goodwill impairment $29.8M recorded in Q4
- Interest expense rose ~14% to $361.4M for fiscal 2025
Insights
Mixed operating performance: adjusted EBITDA improved, GAAP earnings fell; FY2026 EBITDA guidance implies flat near-term profitability.
Consolidated net sales of
Key dependencies and risks include integration and portfolio actions (acquisitions of 8th Avenue and PPI and the announced pasta divestiture closing in
Highlights:
-
Fourth
quarter net sales of
$2.2 billion $168.4 million $51.0 million $425.4 million -
Fiscal year net sales of
$8.2 billion $799.3 million $335.7 million $1,538.8 million -
Fiscal year 2026 Adjusted EBITDA (non-GAAP)* expected to range between
$1,500 -$1,540 million
*For additional information regarding non-GAAP measures, such as Adjusted EBITDA, Adjusted net earnings, Adjusted diluted earnings per common share and segment Adjusted EBITDA, see the related explanations presented under "Use of Non-GAAP Measures" later in this release. Post provides Adjusted EBITDA guidance only on a non-GAAP basis and does not provide a reconciliation of its forward-looking Adjusted EBITDA non-GAAP guidance measure to the most directly comparable GAAP measure due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation, including the adjustments described under "Outlook" below.
Basis of Presentation
On July 1, 2025, Post completed its acquisition of 8th Avenue Food & Provisions, Inc. ("8th Avenue"), the results of which are included in the Post Consumer Brands segment. On August 29, 2025, Post announced it had entered into an agreement to sell the pasta business of 8th Avenue, with the transaction expected to close in December of Post's first quarter of fiscal year 2026.
On March 3, 2025, Post completed its acquisition of Potato Products of
Fourth Quarter Consolidated Operating Results
Net sales were
Selling, general and administrative ("SG&A") expenses were
Net earnings were
|
|
Three Months Ended September 30, |
||
|
(in millions) |
2025 |
|
2024 |
|
Loss on extinguishment of debt, net (1) |
$ — |
|
$ 6.7 |
|
Expense on swaps, net (1) |
0.4 |
|
11.0 |
|
|
|||
|
(1) Discussed later in this release and were treated as adjustments for non-GAAP measures. |
|||
Diluted earnings per common share were
Adjusted EBITDA was
Fiscal Year 2025 Consolidated Operating Results
Net sales were
SG&A expenses were
Net earnings were
|
|
Year Ended September 30, |
||
|
(in millions) |
2025 |
|
2024 |
|
Loss on extinguishment of debt, net (1) |
$ 5.8 |
|
$ 2.1 |
|
(Income) expense on swaps, net (1) |
(6.9) |
|
15.7 |
|
|
|||
|
(1) Discussed later in this release and were treated as adjustments for non-GAAP measures. |
|||
Diluted earnings per common share were
Adjusted EBITDA was
Post Consumer Brands
Primarily North American ready-to-eat ("RTE") cereal and granola, pet food and nut butters.
For the fourth quarter, net sales were
For fiscal year 2025, net sales were
Weetabix
Primarily United Kingdom RTE cereal, muesli and protein-based shakes.
For the fourth quarter, net sales were
For fiscal year 2025, net sales were
Foodservice
Primarily egg and potato products.
For the fourth quarter, net sales were
For fiscal year 2025, net sales were
Refrigerated Retail
Primarily side dish, egg, cheese and sausage products.
For the fourth quarter, net sales were
For fiscal year 2025, net sales were
Impairment of Goodwill and Other Intangible Assets
A non-cash goodwill impairment charge of
Interest, Loss on Extinguishment of Debt, Expense (Income) on Swaps and Income Tax
Interest expense, net was
No gain or loss on extinguishment of debt, net was recorded in the fourth quarter of fiscal year 2025. Loss on extinguishment of debt, net of
Expense (income) on swaps, net relates to mark-to-market adjustments and settlements on interest rate swaps. Expense on swaps, net was
Income tax expense was
Share Repurchases
During the fourth quarter of fiscal year 2025, Post repurchased 2.5 million shares of its common stock for
Outlook
Post management expects Adjusted EBITDA for fiscal year 2026 to be between
Post provides Adjusted EBITDA guidance only on a non-GAAP basis and does not provide a reconciliation of its forward-looking Adjusted EBITDA non-GAAP guidance measure to the most directly comparable GAAP measure due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation, including adjustments that could be made for income/expense on swaps, net, integration and transaction costs, mark-to-market adjustments on equity security investments, mark-to-market adjustments on commodity and foreign exchange hedges, gain/loss on extinguishment of debt, net, equity method investment adjustment and other charges reflected in Post's reconciliations of historical numbers, the amounts of which, based on historical experience, could be significant. For additional information regarding Post's non-GAAP measures, see the related explanations presented under "Use of Non-GAAP Measures."
Use of Non-GAAP Measures
Post uses certain non-GAAP measures in this release to supplement the financial measures prepared in accordance with
Management uses certain of these non-GAAP measures, including Adjusted EBITDA and segment Adjusted EBITDA, as key metrics in the evaluation of underlying company and segment performance, in making financial, operating and planning decisions and, in part, in the determination of bonuses for its executive officers and employees. Additionally, Post is required to comply with certain covenants and limitations that are based on variations of EBITDA in its financing documents. Management believes the use of these non-GAAP measures provides increased transparency and assists investors in understanding the underlying operating performance of Post and its segments and in the analysis of ongoing operating trends. Non-GAAP measures are not prepared in accordance with GAAP, as they exclude certain items as described later in this release. These non-GAAP measures may not be comparable to similarly titled measures of other companies. For additional information regarding Post's non-GAAP measures, see the related explanations provided under "Explanation and Reconciliation of Non-GAAP Measures."
Board Update
Post today announced that William P. Stiritz, Chairman of Post's Board of Directors, will retire from the Board and be named Chairman Emeritus, effective December 16, 2025. Robert V. Vitale, President and Chief Executive Officer and current member of the Board, has been named Chairman of the Board, effective upon Mr. Stiritz's retirement.
Conference Call to Discuss Earnings Results and Outlook
Post will host a conference call on Friday, November 21, 2025 at 9:00 a.m. ET to discuss financial results for the fourth quarter of fiscal year 2025 and fiscal year 2026 outlook and to respond to questions. Robert V. Vitale, President and Chief Executive Officer, Jeff A. Zadoks, Executive Vice President and Chief Operating Officer, and Matthew J. Mainer, Executive Vice President, Chief Financial Officer and Treasurer, will participate in the call.
Interested parties may join the conference call by dialing (800) 445-7795 in the
A replay of the conference call will be available through Friday, November 28, 2025 by dialing (800) 839-6803 in the
Prospective Financial Information
Prospective financial information is necessarily speculative in nature, and it can be expected that some or all of the assumptions underlying the prospective financial information described above will not materialize or will vary significantly from actual results. For further discussion of some of the factors that may cause actual results to vary materially from the prospective financial information provided in this release, see "Forward-Looking Statements" below. Accordingly, the prospective financial information provided in this release is only an estimate of what Post's management believes is realizable as of the date of this release. It also should be recognized that the reliability of any forecasted financial data diminishes the further in the future that the data is forecasted. In light of the foregoing, the information should be viewed in context and undue reliance should not be placed upon it.
Forward-Looking Statements
Certain matters discussed in this release and on Post's conference call are forward-looking statements, including Post's Adjusted EBITDA outlook for fiscal year 2026 and Post's capital expenditure outlook for fiscal year 2026. These forward-looking statements are sometimes identified from the use of forward-looking words such as "believe," "should," "could," "potential," "continue," "expect," "project," "estimate," "predict," "anticipate," "aim," "intend," "plan," "forecast," "target," "is likely," "will," "can," "may" or "would" or the negative of these terms or similar expressions, and include all statements regarding future performance, earnings projections, events or developments. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. These risks and uncertainties include, but are not limited to, the following:
- volatility in the cost or availability of inputs to Post's businesses (including raw materials, energy and other supplies and freight);
- disruptions or inefficiencies in Post's supply chain, tariffs, inflation, highly pathogenic avian influenza and other agricultural diseases and pests, labor shortages, public health crises, weather events and fires and other events beyond Post's control;
- changes in economic conditions, financial instability, disruptions in capital and credit markets, changes in interest rates and fluctuations in foreign currency exchange rates;
- Post's and its customers' ability to compete in their respective product categories, including the success of pricing, advertising and promotional programs, declines in demand for Post's products and the ability to anticipate and respond to changes in consumer and customer preferences and behaviors;
- Post's ability to hire and retain talented personnel, increases in labor-related costs, employee safety, labor strikes, work stoppages, unionization efforts and other labor disruptions;
- Post's high leverage, its ability to obtain additional financing and service its outstanding debt (including covenants restricting the operation of its businesses) and a potential downgrade in Post's credit ratings;
- Post's ability to successfully implement business strategies to reduce costs or optimize its network;
- allegations that Post's products cause injury or illness, product recalls and withdrawals, product liability claims and other related litigation;
- the success of new product introductions;
- compliance with new, existing and changing laws and regulations;
- Post's reliance on third parties and others for the manufacture of many of its products;
- costs, business disruptions and reputational damage associated with information technology failures, cybersecurity incidents, information security breaches or enterprise resource planning system implementations;
- the impact of litigation;
- Post's ability to identify, complete and integrate or otherwise effectively execute acquisitions, including 8th Avenue (and including, if the sale of 8th Avenue's pasta business is not completed, such pasta business) and the pet food assets and operations acquired in April 2023 and December 2023, or other strategic transactions;
- the loss of, a significant reduction of purchases by or the bankruptcy of a major customer;
- differences in Post's actual operating results from any of its guidance regarding its future performance;
- impairment in the carrying value of goodwill, other intangibles or long-lived assets or changes in critical accounting estimates;
- risks associated with Post's international businesses;
- business disruption or other losses resulting from changes in governmental administrations or regulatory priorities, political instability, terrorism, war or armed hostilities or geopolitical tensions;
- risks related to the intended tax treatment of Post's divestitures of its interest in BellRing Brands, Inc.;
- Post's ability to protect its intellectual property and other assets and to license third-party intellectual property;
- costs associated with the obligations of Bob Evans Farms, Inc. ("Bob Evans") in connection with the sale of its restaurants business, including certain indemnification obligations and Bob Evans's payment and performance obligations as a guarantor for certain leases;
- losses or increased funding and expenses related to Post's qualified pension or other postretirement plans;
- conflicting interests or the appearance of conflicting interests resulting from any of Post's directors or officers also serving as directors or officers of other companies; and
- other risks and uncertainties described in Post's filings with the Securities and Exchange Commission.
These forward-looking statements represent Post's judgment as of the date of this release. Post disclaims, however, any intent or obligation to update these forward-looking statements.
About Post Holdings, Inc.
Post Holdings, Inc., headquartered in
Contact:
Investor Relations
Daniel O'Rourke
daniel.orourke@postholdings.com
(314) 806-3959
Media Relations
Tara Gray
tara.gray@postholdings.com
(314) 644-7648
|
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (in millions, except per share data)
|
|||||||
|
|
Three Months Ended |
|
Year Ended September 30, |
||||
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
Net Sales |
|
|
|
|
|
|
|
|
Cost of goods sold |
1,644.9 |
|
1,434.7 |
|
5,818.7 |
|
5,617.8 |
|
Gross Profit |
602.1 |
|
575.4 |
|
2,339.4 |
|
2,304.9 |
|
Selling, general and administrative expenses |
350.1 |
|
341.7 |
|
1,308.6 |
|
1,330.4 |
|
Amortization of intangible assets |
53.2 |
|
46.1 |
|
200.8 |
|
184.6 |
|
Impairment of goodwill |
29.8 |
|
— |
|
29.8 |
|
— |
|
Other operating expense (income), net |
0.6 |
|
(3.3) |
|
0.9 |
|
(3.6) |
|
Operating Profit |
168.4 |
|
190.9 |
|
799.3 |
|
793.5 |
|
Interest expense, net |
101.8 |
|
79.6 |
|
361.4 |
|
316.5 |
|
Loss on extinguishment of debt, net |
— |
|
6.7 |
|
5.8 |
|
2.1 |
|
Expense (income) on swaps, net |
0.4 |
|
11.0 |
|
(6.9) |
|
15.7 |
|
Other income, net |
(6.7) |
|
(4.3) |
|
(5.0) |
|
(12.9) |
|
Earnings before Income Taxes and Equity Method (Earnings) Loss |
72.9 |
|
97.9 |
|
444.0 |
|
472.1 |
|
Income tax expense |
21.9 |
|
16.3 |
|
108.7 |
|
105.1 |
|
Equity method (earnings) loss, net of tax |
(0.1) |
|
— |
|
(0.5) |
|
0.1 |
|
Net Earnings Including Noncontrolling Interest |
51.1 |
|
81.6 |
|
335.8 |
|
366.9 |
|
Less: Net earnings attributable to noncontrolling interest |
0.1 |
|
— |
|
0.1 |
|
0.2 |
|
Net Earnings |
$ 51.0 |
|
$ 81.6 |
|
$ 335.7 |
|
$ 366.7 |
|
|
|
|
|
|
|
|
|
|
Earnings per Common Share: |
|
|
|
|
|
|
|
|
Basic |
$ 0.94 |
|
$ 1.39 |
|
$ 5.98 |
|
$ 6.12 |
|
Diluted |
$ 0.88 |
|
$ 1.28 |
|
$ 5.51 |
|
$ 5.64 |
|
Weighted-Average Common Shares Outstanding: |
|
|
|
|
|
|
|
|
Basic |
54.1 |
|
58.5 |
|
56.1 |
|
59.9 |
|
Diluted |
60.9 |
|
65.8 |
|
62.9 |
|
66.9 |
|
CONSOLIDATED BALANCE SHEETS (Unaudited) (in millions)
|
||||
|
|
September 30, 2025 |
|
September 30, 2024 |
|
|
|
|
|
|
|
|
ASSETS |
|
|||
|
Current Assets |
|
|
|
|
|
Cash and cash equivalents |
$ 176.7 |
|
$ 787.4 |
|
|
Restricted cash |
6.1 |
|
3.5 |
|
|
Receivables, net |
735.4 |
|
582.9 |
|
|
Inventories |
875.0 |
|
754.2 |
|
|
Current assets held for sale |
116.3 |
|
— |
|
|
Prepaid expenses and other current assets |
115.4 |
|
103.6 |
|
|
Total Current Assets |
2,024.9 |
|
2,231.6 |
|
|
|
|
|
|
|
|
Property, net |
2,698.7 |
|
2,311.7 |
|
|
Goodwill |
4,844.7 |
|
4,700.7 |
|
|
Other intangible assets, net |
3,014.6 |
|
3,146.0 |
|
|
Other assets held for sale |
424.8 |
|
— |
|
|
Other assets |
520.7 |
|
464.2 |
|
|
Total Assets |
$ 13,528.4 |
|
$ 12,854.2 |
|
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|||
|
|
||||
|
Current Liabilities |
|
|
|
|
|
Current portion of long-term debt |
$ 1.2 |
|
$ 1.2 |
|
|
Accounts payable |
624.0 |
|
483.8 |
|
|
Current liabilities held for sale |
55.5 |
|
— |
|
|
Other current liabilities |
532.4 |
|
459.9 |
|
|
Total Current Liabilities |
1,213.1 |
|
944.9 |
|
|
|
|
|
|
|
|
Long-term debt |
7,421.7 |
|
6,811.6 |
|
|
Deferred income taxes |
638.5 |
|
653.0 |
|
|
Other liabilities held for sale |
119.7 |
|
— |
|
|
Other liabilities |
371.6 |
|
343.4 |
|
|
Total Liabilities |
9,764.6 |
|
8,752.9 |
|
|
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
Common stock |
0.9 |
|
0.9 |
|
|
Additional paid-in capital |
5,370.7 |
|
5,331.5 |
|
|
Retained earnings |
2,118.9 |
|
1,783.2 |
|
|
Accumulated other comprehensive income |
8.7 |
|
6.4 |
|
|
Treasury stock, at cost |
(3,746.1) |
|
(3,031.4) |
|
|
Total Shareholders' Equity Excluding Noncontrolling Interest |
3,753.1 |
|
4,090.6 |
|
|
Noncontrolling interest |
10.7 |
|
10.7 |
|
|
Total Shareholders' Equity |
3,763.8 |
|
4,101.3 |
|
|
Total Liabilities and Shareholders' Equity |
$ 13,528.4 |
|
$ 12,854.2 |
|
|
SELECTED CONDENSED CONSOLIDATED CASH FLOWS (in millions)
|
|||
|
|
Year Ended September 30, |
||
|
|
2025 |
|
2024 |
|
Cash provided by (used in): |
|
|
|
|
Operating activities |
$ 998.3 |
|
$ 931.7 |
|
Investing activities, including capital expenditures of |
(1,419.3) |
|
(677.5) |
|
Financing activities |
(188.6) |
|
415.6 |
|
Effect of exchange rate changes on cash, cash equivalents and restricted cash |
1.5 |
|
3.9 |
|
Net (decrease) increase in cash, cash equivalents and restricted cash |
$ (608.1) |
|
$ 673.7 |
|
SEGMENT INFORMATION (Unaudited) (in millions)
|
|||||||||
|
|
|
|
Three Months Ended |
|
Year Ended September 30, |
||||
|
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
|
Net Sales |
|
|
|
|
|
|
|
||
|
|
Post Consumer Brands |
|
|
|
|
|
|
|
|
|
|
Weetabix |
145.0 |
|
140.0 |
|
542.2 |
|
543.2 |
|
|
|
Foodservice |
718.0 |
|
596.1 |
|
2,641.0 |
|
2,307.1 |
|
|
|
Refrigerated Retail |
228.2 |
|
226.5 |
|
953.3 |
|
962.2 |
|
|
|
Corporate and eliminations |
(3.0) |
|
0.1 |
|
(3.0) |
|
0.6 |
|
|
|
Total |
|
|
|
|
|
|
|
|
|
Segment Profit |
|
|
|
|
|
|
|
||
|
|
Post Consumer Brands |
$ 102.8 |
|
$ 140.2 |
|
$ 493.9 |
|
$ 541.2 |
|
|
|
Weetabix |
20.6 |
|
19.7 |
|
74.0 |
|
82.9 |
|
|
|
Foodservice |
128.2 |
|
78.3 |
|
399.7 |
|
308.1 |
|
|
|
Refrigerated Retail |
23.4 |
|
12.8 |
|
88.3 |
|
75.9 |
|
|
SUPPLEMENTAL REFRIGERATED RETAIL SEGMENT INFORMATION (Unaudited) |
||
|
The below table presents volume percentage changes for the current quarter compared to the prior year quarter for products
|
||
|
Product |
|
Volume Percentage Change |
|
All (1) |
|
(2.6 %) |
|
Side dishes |
|
(0.3 %) |
|
Egg |
|
(6.3 %) |
|
Cheese |
|
(7.9 %) |
|
Sausage |
|
(12.5 %) |
|
|
|
|
|
(1) Excluding the contribution from PPI in the current year period, volume percentage change was (4.0)%. |
||
EXPLANATION AND RECONCILIATION OF NON-GAAP MEASURES
Post uses certain non-GAAP measures in this release to supplement the financial measures prepared in accordance with
Adjusted net earnings/loss and Adjusted diluted earnings/loss per common share
Post believes Adjusted net earnings/loss and Adjusted diluted earnings/loss per common share are useful to investors in evaluating Post's operating performance because they exclude items that affect the comparability of Post's financial results and could potentially distort an understanding of the trends in business performance.
Adjusted net earnings/loss and Adjusted diluted earnings/loss per common share are adjusted for the following items:
|
a. |
Income/expense on swaps, net: Post has excluded the impact of mark-to-market adjustments and cash settlements on interest rate swaps due to the inherent uncertainty and volatility associated with such amounts based on changes in assumptions with respect to estimates of fair value and economic conditions and as the amount and frequency of such adjustments are not consistent. |
|
b. |
Restructuring and facility closure costs, including accelerated depreciation: Post has excluded certain costs associated with facility closures as the amount and frequency of such adjustments are not consistent. Additionally, Post believes that these costs do not reflect expected ongoing future operating expenses and do not contribute to a meaningful evaluation of Post's current operating performance or comparisons of Post's operating performance to other periods. |
|
c. |
Integration costs and transaction costs: Post has excluded transaction costs related to professional service fees and other related costs associated with signed and closed business combinations and divestitures and integration costs incurred to integrate acquired or to-be-acquired businesses or assets as Post believes that these exclusions allow for more meaningful evaluation of Post's current operating performance and comparisons of Post's operating performance to other periods. Post believes such costs are generally not relevant to assessing or estimating the long-term performance of acquired businesses or assets as part of Post or the performance of the divested businesses or assets, and such costs are not factored into management's evaluation of potential acquisitions or Post's performance after completion of an acquisition or the evaluation to divest a business or asset. In addition, the frequency and amount of such charges varies significantly based on the size and timing of the transaction and the maturity of any businesses being acquired or divested. Also, the size, complexity and/or volume of past transactions, which often drive the magnitude of such expenses, may not be indicative of the size, complexity and/or volume of future transactions. By excluding these expenses, management is better able to evaluate Post's ability to utilize its existing assets and estimate the long-term value that acquired businesses or assets will generate for Post. |
|
d. |
Impairment of goodwill: Post has excluded expenses for impairment of the Cheese and Dairy reporting unit as such non-cash amounts are inconsistent in amount and frequency and Post believes that these costs do not reflect expected ongoing future operating expenses and do not contribute to a meaningful evaluation of Post's current operating performance or comparisons of Post's operating performance to other periods. |
|
e. |
Inventory revaluation adjustment on acquired businesses: Post has excluded the impact of fair value step-up adjustments to inventory in connection with business combinations as such adjustments represent non-cash items, are not consistent in amount and frequency and are significantly impacted by the timing and size of Post's acquisitions. |
|
f. |
Mark-to-market adjustments on equity security investments: Post has excluded the impact of mark-to-market adjustments on equity security investments due to the inherent volatility associated with such amounts based on changes in market pricing variations and as the amount and frequency of such adjustments are not consistent. Additionally, these adjustments are primarily non-cash items and do not contribute to a meaningful evaluation of Post's current operating performance or comparisons of Post's operating performance to other periods. |
|
g. |
Mark-to-market adjustments on commodity and foreign exchange hedges: Post has excluded the impact of mark-to-market adjustments on commodity and foreign exchange hedges due to the inherent uncertainty and volatility associated with such amounts based on changes in assumptions with respect to fair value estimates. Additionally, these adjustments are primarily non-cash items, and the amount and frequency of such adjustments are not consistent. |
|
h. |
Asset disposal costs: Post has excluded costs recorded in connection with the disposal of certain assets which were never put into use and/or the demolition and site remediation of unused facilities as the amount and frequency of these costs are not consistent. Additionally, Post believes that these costs do not reflect expected ongoing future operating expenses and do not contribute to a meaningful evaluation of Post's current operating performance or comparisons of Post's operating performance to other periods. |
|
i. |
Debt premiums paid/discounts received, net: Post has excluded payments and other expenses for premiums on debt extinguishment, net of gains realized on debt repurchased at a discount, as such payments are inconsistent in amount and frequency. Additionally, Post believes that these costs do not reflect expected ongoing future operating expenses and do not contribute to a meaningful evaluation of Post's current operating performance or comparisons of Post's operating performance to other periods. |
|
j. |
Gain on bargain purchase: Post has excluded gains recorded for acquisitions in which the fair value of the net assets acquired exceeds the purchase price and adjustments to such gains as such amounts are inconsistent in amount and frequency. Post believes such gains and adjustments are generally not relevant to assessing or estimating the long-term performance of acquired assets as part of Post, and such amounts are not factored into the performance of acquisitions after their completion. |
|
k. |
Advisory income: Post has excluded advisory income received from 8th Avenue prior to Post's acquisition of 8th Avenue as Post believes such income does not contribute to a meaningful evaluation of Post's current operating performance or comparisons of Post's operating performance to other periods. |
|
l. |
Provision for legal settlements: Post has excluded gains and losses recorded to recognize the anticipated or actual resolution of certain litigation as Post believes such gains and losses do not reflect expected ongoing future operating income and expenses and do not contribute to a meaningful evaluation of Post's current operating performance or comparisons of Post's operating performance to other periods. |
|
m. |
Gain/loss on sale of business: Post has excluded gains and losses recorded on divestitures as the amount and frequency of such adjustments are not consistent. Additionally, Post believes that these gains and losses do not reflect expected ongoing future operating income and expenses and do not contribute to a meaningful evaluation of Post's current operating performance or comparisons of Post's operating performance to other periods. |
|
n. |
Income tax effect on adjustments: Post has included the income tax impact of the non-GAAP adjustments using a rate described in the applicable footnote of the reconciliation tables to be consistent with the treatment of these adjustments in the calculation of the non-GAAP measure. |
Adjusted EBITDA, segment Adjusted EBITDA, Adjusted EBITDA as a percentage of Net Sales and segment Adjusted EBITDA as a percentage of Net Sales
Post believes that Adjusted EBITDA is useful to investors in evaluating Post's operating performance and liquidity because (i) Post believes it is widely used to measure a company's operating performance without regard to items such as depreciation and amortization, which can vary depending upon accounting methods and the book value of assets, (ii) it presents a measure of corporate performance exclusive of Post's capital structure and the method by which the assets were acquired and (iii) it is a financial indicator of a company's ability to service its debt, as Post is required to comply with certain covenants and limitations that are based on variations of EBITDA in its financing documents. Post believes that segment Adjusted EBITDA is useful to investors in evaluating Post's operating performance because it allows for assessment of the operating performance of each reportable segment. Management uses Adjusted EBITDA to provide forward-looking guidance and uses Adjusted EBITDA and segment Adjusted EBITDA to forecast future results. Post believes that Adjusted EBITDA as a percentage of Net Sales and segment Adjusted EBITDA as a percentage of Net Sales are measures useful to investors in evaluating Post's operating performance because they allow for meaningful comparison of operating performance across periods.
Adjusted EBITDA and segment Adjusted EBITDA reflect adjustments for income tax expense/benefit, interest expense, net and depreciation and amortization, and the following adjustments discussed above: income/expense on swaps, net, restructuring and facility closure costs, integration costs and transaction costs, impairment of goodwill, inventory revaluation adjustment on acquired businesses, mark-to-market adjustments on equity security investments, mark-to-market adjustments on commodity and foreign exchange hedges, asset disposal costs, gain on bargain purchase, advisory income, provision for legal settlements and gain/loss on sale of business. Additionally, Adjusted EBITDA and segment Adjusted EBITDA reflect adjustments for the following items:
|
o. |
Stock-based compensation: Post's compensation strategy includes the use of stock-based compensation to attract and retain executives and employees by aligning their long-term compensation interests with shareholders' investment interests. Post has excluded stock-based compensation as stock-based compensation can vary significantly based on reasons such as the timing, size and nature of the awards granted and subjective assumptions which are unrelated to operational decisions and performance in any particular period and does not contribute to meaningful comparisons of Post's operating performances to other periods. |
|
p. |
Gain/loss on extinguishment of debt, net: Post has excluded gains and losses recorded on extinguishment of debt, inclusive of payments for premiums and tender fees and the write-off of debt issuance costs, net of gains realized on the write-off of unamortized debt premiums and debt repurchased at a discount, as such gains and losses are inconsistent in amount and frequency. Additionally, Post believes that these gains and losses do not reflect expected ongoing future operating income and expenses and do not contribute to a meaningful evaluation of Post's current operating performance or comparisons of Post's operating performance to other periods. |
|
q. |
Equity method investment adjustment: Post has included adjustments for its portion of income tax expense/benefit, interest expense, net and depreciation and amortization for Weetabix's unconsolidated investment accounted for using equity method accounting as Post believes these adjustments contribute to a more meaningful evaluation of Post's current operating performance. |
|
r. |
Noncontrolling interest adjustment: Post has included adjustments for income tax expense/benefit, interest expense, net and depreciation and amortization for Weetabix's consolidated investment which is attributable to the noncontrolling owners of Weetabix's consolidated investment as Post believes these adjustments contribute to a more meaningful evaluation of Post's current operating performance. |
Free cash flow
Free cash flow is a non-GAAP measure which represents net cash provided by operating activities less capital expenditures. Post believes free cash flow is useful to investors in evaluating Post's ability to service debt and repurchase shares of its common stock.
|
RECONCILIATION OF NET EARNINGS TO ADJUSTED NET EARNINGS (Unaudited) (in millions)
|
||||||||
|
|
|
Three Months Ended |
|
Year Ended September 30, |
||||
|
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
Net Earnings |
$ 51.0 |
|
$ 81.6 |
|
$ 335.7 |
|
$ 366.7 |
|
|
|
|
|
|
|
|
|
|
|
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
Expense (income) on swaps, net |
0.4 |
|
11.0 |
|
(6.9) |
|
15.7 |
|
|
Restructuring and facility closure costs, including accelerated |
18.8 |
|
13.2 |
|
45.7 |
|
36.4 |
|
|
Integration costs |
14.4 |
|
10.0 |
|
38.7 |
|
36.5 |
|
|
Impairment of goodwill |
29.8 |
|
— |
|
29.8 |
|
— |
|
|
Inventory revaluation adjustment on acquired businesses |
22.0 |
|
— |
|
22.0 |
|
1.0 |
|
|
Mark-to-market adjustments on equity security investments |
(3.8) |
|
(1.9) |
|
6.6 |
|
(3.1) |
|
|
Mark-to-market adjustments on commodity and foreign exchange |
0.9 |
|
(5.9) |
|
(5.0) |
|
(7.1) |
|
|
Transaction costs |
4.3 |
|
— |
|
6.2 |
|
1.2 |
|
|
Asset disposal costs |
4.3 |
|
1.1 |
|
6.3 |
|
1.1 |
|
|
Debt premiums paid |
— |
|
4.2 |
|
4.4 |
|
0.7 |
|
|
Gain on bargain purchase |
— |
|
(4.8) |
|
— |
|
(10.6) |
|
|
Advisory income |
(0.1) |
|
(0.2) |
|
(0.5) |
|
(0.6) |
|
|
Provision for legal settlements |
0.6 |
|
— |
|
0.7 |
|
0.8 |
|
|
Loss on sale of business |
— |
|
— |
|
— |
|
0.8 |
|
|
Total Net Adjustments |
91.6 |
|
26.7 |
|
148.0 |
|
72.8 |
|
Income tax effect on adjustments (1) |
(15.1) |
|
(7.4) |
|
(29.2) |
|
(20.0) |
|
|
Adjusted Net Earnings |
$ 127.5 |
|
$ 100.9 |
|
$ 454.5 |
|
$ 419.5 |
|
|
|
||||||||
|
(1) Income tax effect on adjustments was calculated on all items, except income/expense on swaps, net, impairment of goodwill and gain on bargain purchase, using a rate of |
|
RECONCILIATION OF DILUTED EARNINGS PER COMMON SHARE TO ADJUSTED DILUTED EARNINGS PER COMMON SHARE (Unaudited)
|
||||||||
|
|
|
Three Months Ended |
|
Year Ended September 30, |
||||
|
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
Diluted Earnings per Common Share |
$ 0.88 |
|
$ 1.28 |
|
$ 5.51 |
|
$ 5.64 |
|
|
Adjustment to Diluted Earnings per Common Share for impact of |
(0.04) |
|
(0.04) |
|
(0.17) |
|
(0.16) |
|
|
|
|
|
|
|
|
|
|
|
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
Expense (income) on swaps, net |
0.01 |
|
0.17 |
|
(0.11) |
|
0.24 |
|
|
Restructuring and facility closure costs, including accelerated |
0.31 |
|
0.19 |
|
0.73 |
|
0.54 |
|
|
Integration costs |
0.23 |
|
0.15 |
|
0.62 |
|
0.55 |
|
|
Impairment of goodwill |
0.49 |
|
— |
|
0.47 |
|
— |
|
|
Inventory revaluation adjustment on acquired businesses |
0.36 |
|
— |
|
0.35 |
|
0.02 |
|
|
Mark-to-market adjustments on equity security investments |
(0.06) |
|
(0.03) |
|
0.10 |
|
(0.05) |
|
|
Mark-to-market adjustments on commodity and foreign exchange |
0.01 |
|
(0.09) |
|
(0.08) |
|
(0.11) |
|
|
Transaction costs |
0.07 |
|
— |
|
0.10 |
|
0.02 |
|
|
Asset disposal costs |
0.07 |
|
0.02 |
|
0.10 |
|
0.02 |
|
|
Debt premiums paid |
— |
|
0.06 |
|
0.07 |
|
0.01 |
|
|
Gain on bargain purchase |
— |
|
(0.07) |
|
— |
|
(0.16) |
|
|
Advisory income |
— |
|
— |
|
(0.01) |
|
(0.01) |
|
|
Provision for legal settlements |
0.01 |
|
— |
|
0.01 |
|
0.01 |
|
|
Loss on sale of business |
— |
|
— |
|
— |
|
0.01 |
|
|
Total Net Adjustments |
1.50 |
|
0.40 |
|
2.35 |
|
1.09 |
|
Income tax effect on adjustments (2) |
(0.25) |
|
(0.11) |
|
(0.46) |
|
(0.30) |
|
|
Adjusted Diluted Earnings per Common Share |
$ 2.09 |
|
$ 1.53 |
|
$ 7.23 |
|
$ 6.27 |
|
|
|
|
|
|
|
|
|
|
|
|
(1) Represents the exclusion of interest expense, net of tax, associated with Post's convertible senior notes, which was treated as an adjustment to income available to common shareholders for diluted earnings per common share. Post believes this exclusion allows for more meaningful comparison of performance to other periods. |
||||||||
|
(2) Income tax effect on adjustments was calculated on all items, except income/expense on swaps, net, impairment of goodwill and gain on bargain purchase, using a rate of |
|
RECONCILIATION OF NET EARNINGS TO ADJUSTED EBITDA (Unaudited) (in millions)
|
|||||||
|
|
Three Months Ended |
|
Year Ended September 30, |
||||
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
Net Earnings |
$ 51.0 |
|
$ 81.6 |
|
|
|
|
|
Income tax expense |
21.9 |
|
16.3 |
|
108.7 |
|
105.1 |
|
Interest expense, net |
101.8 |
|
79.6 |
|
361.4 |
|
316.5 |
|
Depreciation and amortization |
146.2 |
|
124.2 |
|
524.3 |
|
476.9 |
|
Stock-based compensation |
21.4 |
|
23.5 |
|
81.6 |
|
84.4 |
|
Expense (income) on swaps, net |
0.4 |
|
11.0 |
|
(6.9) |
|
15.7 |
|
Restructuring and facility closure costs, excluding accelerated |
10.3 |
|
7.4 |
|
23.4 |
|
16.0 |
|
Integration costs |
14.4 |
|
10.0 |
|
38.7 |
|
36.5 |
|
Impairment of goodwill |
29.8 |
|
— |
|
29.8 |
|
— |
|
Inventory revaluation adjustment on acquired businesses |
22.0 |
|
— |
|
22.0 |
|
1.0 |
|
Mark-to-market adjustments on equity security investments |
(3.8) |
|
(1.9) |
|
6.6 |
|
(3.1) |
|
Mark-to-market adjustments on commodity and foreign exchange |
0.9 |
|
(5.9) |
|
(5.0) |
|
(7.1) |
|
Transaction costs |
4.3 |
|
— |
|
6.2 |
|
1.2 |
|
Asset disposal costs |
4.3 |
|
1.1 |
|
6.3 |
|
1.1 |
|
Loss on extinguishment of debt, net |
— |
|
6.7 |
|
5.8 |
|
2.1 |
|
Gain on bargain purchase |
— |
|
(4.8) |
|
— |
|
(10.6) |
|
Advisory income |
(0.1) |
|
(0.2) |
|
(0.5) |
|
(0.6) |
|
Provision for legal settlements |
0.6 |
|
— |
|
0.7 |
|
0.8 |
|
Loss on sale of business |
— |
|
— |
|
— |
|
0.8 |
|
Equity method investment adjustment |
0.1 |
|
0.2 |
|
0.4 |
|
0.5 |
|
Noncontrolling interest adjustment |
(0.1) |
|
(0.1) |
|
(0.4) |
|
(0.3) |
|
Adjusted EBITDA |
|
|
|
|
$ 1,538.8 |
|
$ 1,403.6 |
|
Net Earnings as a percentage of Net Sales |
2.3 % |
|
4.1 % |
|
4.1 % |
|
4.6 % |
|
Adjusted EBITDA as a percentage of Net Sales |
18.9 % |
|
17.3 % |
|
18.9 % |
|
17.7 % |
|
RECONCILIATION OF SEGMENT PROFIT TO ADJUSTED EBITDA (Unaudited) THREE MONTHS ENDED SEPTEMBER 30, 2025 (in millions)
|
|||||||||
|
|
Post |
|
Weetabix |
|
Foodservice |
|
Refrigerated |
|
Corporate/ |
|
Segment Profit |
$ 102.8 |
|
$ 20.6 |
|
$ 128.2 |
|
$ 23.4 |
|
$ — |
|
General corporate expenses and other |
— |
|
— |
|
— |
|
— |
|
(70.1) |
|
Impairment of goodwill |
— |
|
— |
|
— |
|
(29.8) |
|
— |
|
Other income, net |
— |
|
— |
|
— |
|
— |
|
(6.7) |
|
Operating Profit |
102.8 |
|
20.6 |
|
128.2 |
|
(6.4) |
|
(76.8) |
|
Other income, net |
— |
|
— |
|
— |
|
— |
|
6.7 |
|
Depreciation and amortization |
70.4 |
|
12.0 |
|
34.5 |
|
20.0 |
|
9.3 |
|
Stock-based compensation |
— |
|
— |
|
— |
|
— |
|
21.4 |
|
Restructuring and facility closure costs, excluding |
— |
|
— |
|
— |
|
— |
|
10.3 |
|
Integration costs |
12.2 |
|
— |
|
— |
|
2.2 |
|
— |
|
Impairment of goodwill |
— |
|
— |
|
— |
|
29.8 |
|
— |
|
Inventory revaluation adjustment on acquired businesses |
22.0 |
|
— |
|
— |
|
— |
|
— |
|
Mark-to-market adjustments on equity security |
— |
|
— |
|
— |
|
— |
|
(3.8) |
|
Mark-to-market adjustments on commodity and foreign |
— |
|
— |
|
(1.6) |
|
— |
|
2.5 |
|
Transaction costs |
— |
|
— |
|
— |
|
— |
|
4.3 |
|
Asset disposal costs |
— |
|
— |
|
— |
|
— |
|
4.3 |
|
Advisory income |
— |
|
— |
|
— |
|
— |
|
(0.1) |
|
Provision for legal settlements |
0.6 |
|
— |
|
— |
|
— |
|
— |
|
Equity method investment adjustment |
— |
|
0.2 |
|
— |
|
— |
|
— |
|
Noncontrolling interest adjustment |
— |
|
(0.2) |
|
— |
|
— |
|
— |
|
Adjusted EBITDA |
$ 208.0 |
|
$ 32.6 |
|
$ 161.1 |
|
$ 45.6 |
|
$ (21.9) |
|
Segment Profit as a percentage of Net Sales |
8.9 % |
|
14.2 % |
|
17.9 % |
|
10.3 % |
|
— |
|
Adjusted EBITDA as a percentage of Net Sales |
17.9 % |
|
22.5 % |
|
22.4 % |
|
20.0 % |
|
— |
|
RECONCILIATION OF SEGMENT PROFIT TO ADJUSTED EBITDA (Unaudited) THREE MONTHS ENDED SEPTEMBER 30, 2024 (in millions)
|
|||||||||
|
|
Post |
|
Weetabix |
|
Foodservice |
|
Refrigerated |
|
Corporate/ |
|
Segment Profit |
$ 140.2 |
|
$ 19.7 |
|
$ 78.3 |
|
$ 12.8 |
|
$ — |
|
General corporate expenses and other |
— |
|
— |
|
— |
|
— |
|
(55.8) |
|
Other income, net |
— |
|
— |
|
— |
|
— |
|
(4.3) |
|
Operating Profit |
140.2 |
|
19.7 |
|
78.3 |
|
12.8 |
|
(60.1) |
|
Other income, net |
— |
|
— |
|
— |
|
— |
|
4.3 |
|
Depreciation and amortization |
53.6 |
|
12.6 |
|
32.3 |
|
18.8 |
|
6.9 |
|
Stock-based compensation |
— |
|
— |
|
— |
|
— |
|
23.5 |
|
Restructuring and facility closure costs, excluding |
— |
|
— |
|
— |
|
— |
|
7.4 |
|
Integration costs |
9.9 |
|
0.1 |
|
— |
|
— |
|
— |
|
Mark-to-market adjustments on equity security |
— |
|
— |
|
— |
|
— |
|
(1.9) |
|
Mark-to-market adjustments on commodity and foreign |
— |
|
(0.1) |
|
(3.1) |
|
— |
|
(2.7) |
|
Asset disposal costs |
— |
|
— |
|
— |
|
— |
|
1.1 |
|
Gain on bargain purchase |
— |
|
— |
|
— |
|
— |
|
(4.8) |
|
Advisory income |
— |
|
— |
|
— |
|
— |
|
(0.2) |
|
Equity method investment adjustment |
— |
|
0.2 |
|
— |
|
— |
|
— |
|
Noncontrolling interest adjustment |
— |
|
(0.1) |
|
— |
|
— |
|
— |
|
Adjusted EBITDA |
$ 203.7 |
|
$ 32.4 |
|
$ 107.5 |
|
$ 31.6 |
|
$ (26.5) |
|
Segment Profit as a percentage of Net Sales |
13.4 % |
|
14.1 % |
|
13.1 % |
|
5.7 % |
|
— |
|
Adjusted EBITDA as a percentage of Net Sales |
19.4 % |
|
23.1 % |
|
18.0 % |
|
14.0 % |
|
— |
|
RECONCILIATION OF SEGMENT PROFIT TO ADJUSTED EBITDA (Unaudited) YEAR ENDED SEPTEMBER 30, 2025 (in millions)
|
|||||||||
|
|
Post |
|
Weetabix |
|
Foodservice |
|
Refrigerated |
|
Corporate/ |
|
Segment Profit |
$ 493.9 |
|
$ 74.0 |
|
$ 399.7 |
|
$ 88.3 |
|
$ — |
|
General corporate expenses and other |
— |
|
— |
|
— |
|
— |
|
(221.8) |
|
Impairment of goodwill |
— |
|
— |
|
— |
|
(29.8) |
|
— |
|
Other income, net |
— |
|
— |
|
— |
|
— |
|
(5.0) |
|
Operating Profit |
493.9 |
|
74.0 |
|
399.7 |
|
58.5 |
|
(226.8) |
|
Other income, net |
— |
|
— |
|
— |
|
— |
|
5.0 |
|
Depreciation and amortization |
243.4 |
|
49.0 |
|
131.8 |
|
74.4 |
|
25.7 |
|
Stock-based compensation |
— |
|
— |
|
— |
|
— |
|
81.6 |
|
Restructuring and facility closure costs, excluding |
— |
|
— |
|
— |
|
— |
|
23.4 |
|
Integration costs |
34.2 |
|
0.1 |
|
— |
|
4.4 |
|
— |
|
Impairment of goodwill |
— |
|
— |
|
— |
|
29.8 |
|
— |
|
Inventory revaluation adjustment on acquired businesses |
22.0 |
|
— |
|
— |
|
— |
|
— |
|
Mark-to-market adjustments on equity security |
— |
|
— |
|
— |
|
— |
|
6.6 |
|
Mark-to-market adjustments on commodity and foreign |
— |
|
0.2 |
|
1.4 |
|
— |
|
(6.6) |
|
Transaction costs |
— |
|
— |
|
— |
|
— |
|
6.2 |
|
Asset disposal costs |
— |
|
— |
|
— |
|
— |
|
6.3 |
|
Advisory income |
— |
|
— |
|
— |
|
— |
|
(0.5) |
|
Provision for legal settlements |
0.6 |
|
— |
|
— |
|
0.1 |
|
— |
|
Equity method investment adjustment |
— |
|
0.9 |
|
— |
|
— |
|
— |
|
Noncontrolling interest adjustment |
— |
|
(0.5) |
|
— |
|
— |
|
— |
|
Adjusted EBITDA |
$ 794.1 |
|
$ 123.7 |
|
$ 532.9 |
|
$ 167.2 |
|
$ (79.1) |
|
Segment Profit as a percentage of Net Sales |
12.3 % |
|
13.6 % |
|
15.1 % |
|
9.3 % |
|
— |
|
Adjusted EBITDA as a percentage of Net Sales |
19.7 % |
|
22.8 % |
|
20.2 % |
|
17.5 % |
|
— |
|
RECONCILIATION OF SEGMENT PROFIT TO ADJUSTED EBITDA (Unaudited) YEAR ENDED SEPTEMBER 30, 2024 (in millions)
|
|||||||||
|
|
Post |
|
Weetabix |
|
Foodservice |
|
Refrigerated |
|
Corporate/ |
|
Segment Profit |
$ 541.2 |
|
$ 82.9 |
|
$ 308.1 |
|
$ 75.9 |
|
$ — |
|
General corporate expenses and other |
— |
|
— |
|
— |
|
— |
|
(201.7) |
|
Other income, net |
— |
|
— |
|
— |
|
— |
|
(12.9) |
|
Operating Profit |
541.2 |
|
82.9 |
|
308.1 |
|
75.9 |
|
(214.6) |
|
Other income, net |
— |
|
— |
|
— |
|
— |
|
12.9 |
|
Depreciation and amortization |
207.3 |
|
42.2 |
|
131.1 |
|
72.3 |
|
24.0 |
|
Stock-based compensation |
— |
|
— |
|
— |
|
— |
|
84.4 |
|
Restructuring and facility closure costs, excluding |
— |
|
— |
|
— |
|
— |
|
16.0 |
|
Integration costs |
36.5 |
|
0.1 |
|
— |
|
— |
|
(0.1) |
|
Inventory revaluation adjustment on acquired businesses |
1.0 |
|
— |
|
— |
|
— |
|
— |
|
Mark-to-market adjustments on equity security |
— |
|
— |
|
— |
|
— |
|
(3.1) |
|
Mark-to-market adjustments on commodity and foreign |
— |
|
(0.1) |
|
(3.8) |
|
— |
|
(3.2) |
|
Transaction costs |
— |
|
— |
|
— |
|
— |
|
1.2 |
|
Asset disposal costs |
— |
|
— |
|
— |
|
— |
|
1.1 |
|
Gain on bargain purchase |
— |
|
— |
|
— |
|
— |
|
(10.6) |
|
Advisory income |
— |
|
— |
|
— |
|
— |
|
(0.6) |
|
Provision for legal settlements |
— |
|
— |
|
— |
|
0.8 |
|
— |
|
Loss on sale of business |
— |
|
— |
|
— |
|
— |
|
0.8 |
|
Equity method investment adjustment |
— |
|
0.4 |
|
— |
|
— |
|
— |
|
Noncontrolling interest adjustment |
— |
|
(0.5) |
|
— |
|
— |
|
— |
|
Adjusted EBITDA |
$ 786.0 |
|
$ 125.0 |
|
$ 435.4 |
|
$ 149.0 |
|
$ (91.8) |
|
Segment Profit as a percentage of Net Sales |
13.2 % |
|
15.3 % |
|
13.4 % |
|
7.9 % |
|
— |
|
Adjusted EBITDA as a percentage of Net Sales |
19.1 % |
|
23.0 % |
|
18.9 % |
|
15.5 % |
|
— |
|
RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW (Unaudited) (in millions)
|
|||
|
|
Year Ended September 30, |
||
|
|
2025 |
|
2024 |
|
Net cash provided by operating activities |
$ 998.3 |
|
$ 931.7 |
|
Less: Capital expenditures |
510.2 |
|
429.5 |
|
Free Cash Flow |
$ 488.1 |
|
$ 502.2 |
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SOURCE Post Holdings, Inc.
FAQ
What were Post Holdings (POST) fourth-quarter FY2025 net sales and Adjusted EBITDA?
What guidance did Post Holdings (POST) give for fiscal year 2026 Adjusted EBITDA?
How much did Post Holdings (POST) repurchase in shares during fiscal 2025?
What material impairment or one-time charge did Post Holdings (POST) record in Q4 FY2025?
Which Post Holdings (POST) business drove the largest year-over-year growth in FY2025?
How did Post Holdings (POST) explain higher interest expense in FY2025?
