Post Holdings jumps on guidance, results

Supermarket Food Prices Increase Due To Cost of Living

Christopher Furlong/Getty Images News

Post Holdings (NYSE:POST) rose 5% postmarket on Thursday after reporting upping guidance and earnings that beat estimates.

First quarter non-GAAP earnings per share of $1.69 beat the average analyst estimate by $0.59 on revenue of $2B, which was better than expected by $80M.

For fiscal year 2024, Post raised its guidance range for adjusted EBITDA to $1.29B to $1.34B million from $1.220B to $1.28B.

For the first quarter, North American cereal, pet food and peanut butter revenue reached $988.6M, an increase of 78% compared to a year earlier thanks to largely to acquisitions, which added $426.6M to the total.

United Kingdom cereal, muesli and protein-based shakes — think Weetabix — saw sales rise 9.2% to $129.1M.

Egg and potato products hit revenue of $567.1M, a decrease of 5.6%.

Harry Byrne

Related post