ST.
LOUIS, Dec. 9, 2024 /PRNewswire/ -- Post
Holdings, Inc. (NYSE: POST), a consumer packaged goods holding
company, today provided information regarding an avian influenza
incident at one of Michael Foods' third-party contracted egg-laying
facilities. Post also affirmed its non-GAAP Adjusted EBITDA
guidance for fiscal year 2025.
Avian Influenza Discussion
A Michael Foods third-party contracted egg-laying flock in
Iowa tested positive for avian
influenza. The facility houses approximately 4.5 million egg-laying
hens, or approximately 12% of Post's controlled supply, inclusive
of owned and third-party contracted farms.
Fiscal Year 2025 Outlook
Post management affirmed its outlook for fiscal year 2025
Adjusted EBITDA of $1,410-$1,460
million, as Post management believes the related financial
impact is within the tolerances of the range. The guidance range
does not incorporate a significant expansion of avian influenza
within Post's network, the impact of which is uncertain.
The APHIS division of the USDA and individual states track and
report individual incidents of avian influenza. Post does not
expect to provide additional updates on specific incidents unless
the cumulative effect of subsequent incidents exceeds an additional
5% of Post's controlled supply.
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, gain/loss of extinguishment of debt,
net, integration and transaction costs, mark-to-market adjustments
on commodity and foreign exchange hedges, mark-to-market
adjustments and impairments on equity securities and investments,
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 measure, see the
related explanation presented under "Post's Use of Non-GAAP
Measure."
Post's Use of Non-GAAP Measure
Post uses Adjusted EBITDA, a non-GAAP measure, to supplement the
financial measures prepared in accordance with United States ("U.S.") generally accepted
accounting principles ("GAAP"). Adjusted EBITDA is not prepared in
accordance with U.S. GAAP, as it excludes certain items, and may
not be comparable to similarly-titled measures of other companies.
Management uses Adjusted EBITDA as a key metric 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 this non-GAAP measure 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.
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 information
provided above, see "Forward-Looking Statements" below.
Accordingly, the prospective financial information provided above
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 farther 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.
Reliance on Third-Party Information
With respect to the references to APHIS and state tracking
systems of avian influenza, Post acknowledges that such third
parties make no representation or warranty concerning the content,
accuracy, completeness, availability or timeliness of any
information contained therein. Post makes no representation or
warranty regarding the accuracy, completeness or reliability of any
schedule, report or other information provided by such third
parties. Post has not independently verified any of the data from
third-party sources nor has it ascertained the underlying facts on
which such data is based.
Forward-Looking Statements
Certain matters discussed in this press release are
forward-looking statements. These forward-looking statements are
made based on known events and circumstances at the time of
release, and as such, are subject to uncertainty and changes in
circumstances. These forward-looking statements include Post's
Adjusted EBITDA outlook for fiscal year 2025. Such statements
involve certain risks and uncertainties that could cause actual
results to differ materially from the forward-looking statements
made herein. These risks and uncertainties include the recent avian
influenza outbreak in the U.S. and the impact of the avian
influenza incident described above on Post's financial results 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. All forward-looking
statements in this release are qualified in their entirety by this
cautionary statement.
About Post Holdings, Inc.
Post Holdings, Inc., headquartered in St. Louis, Missouri, is a consumer packaged
goods holding company with businesses operating in the
center-of-the-store, refrigerated, foodservice and food ingredient
categories. Its businesses include Post Consumer Brands, Weetabix,
Michael Foods and Bob Evans Farms. Post Consumer Brands is a leader
in the North American ready-to-eat cereal and pet food categories
and also markets Peter Pan® peanut butter.
Weetabix is home to the United
Kingdom's number one selling ready-to-eat cereal brand,
Weetabix®. Michael Foods and Bob Evans Farms are
leaders in refrigerated foods, delivering innovative, value-added
egg and refrigerated potato side dish products to the foodservice
and retail channels. Post participates in the private brand food
category through its ownership interest in 8th Avenue Food &
Provisions, Inc. For more information, visit
www.postholdings.com.
Contact:
Media Relations
Tara Gray
tara.gray@postholdings.com
(314) 644-7648
Investor Relations
Daniel O'Rourke
daniel.orourke@postholdings.com
(314) 806-3959
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SOURCE Post Holdings, Inc.