Post adjusted EBITDA down 14% in year

by Eric Schroeder
Share This:

ST. LOUIS — Net income at Post Holdings, Inc. in the year ended Sept. 30 totaled $49.9 million, equal to $1.45 per share on the common stock, which compared with a loss of $424.3 million in fiscal 2011.

Adjusted EBITDA, meanwhile, totaled $214.6 million in fiscal 2012, down 14% from $248.9 million in fiscal 2011. Post said the adjusted EBITDA reflects its status as a stand-alone public company and not as an operating segment of Ralcorp.

Sales for fiscal 2012 were $958.9 million, down 1% from $968.2 million during fiscal 2011. The sales decline was attributed in part to a 3.2% drop in overall volumes, partially offset by higher gross and net selling prices.

During fiscal 2012, Post said volumes of Honey Bunches of Oats and Pebbles ready-to-eat cereals were down 2.3% and 6.4%, respectively, versus the same period a year ago, while volumes of Great Grains increased 10.1%.

For the fourth quarter ended Sept. 30, net income was $10.8 million, or 32c per share, which compared with a loss of $479.6 million during the same period of the previous year. Adjusted EBITDA totaled $53.5 million, down 6% from $56.7 million. Sales for the period were $247.2 million, up from $237.8 million.

An increase of 4.9% in volumes drove the 4% increase in fourth-quarter sales. Volumes of Honey Bunches of Oats and Pebbles increased 9.9% and 9.5%, respectively, during the fourth quarter, while Great Grains and Grape Nuts volumes advanced 13.5% and 2.8%, respectively.

Looking ahead to fiscal 2013, Post expects adjusted EBITDA of between $210 million and $225 million. Capital expenditures are expected to be in the range of $30 million to $35 million.

Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.

 

 


The views expressed in the comments section of Baking Business News do not reflect those of Baking Business News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.