St. Louis / MO. (pfh) Post Holdings Inc. , a consumer packaged goods holding company, reported results for the first fiscal quarter ended December 31, 2022. Highlights:
- First quarter net sales of USD 1.6 billion
- Operating profit of USD 149.9 million; net earnings from continuing operations of USD 91.9 million and Adjusted Ebitda of USD 269.9 million
- Raised fiscal year 2023 Adjusted Ebitda guidance to USD 1,025-USD 1,065 million
First Quarter Consolidated Operating Results
Net sales were USD 1,566.3 million, an increase of 17.1 percent, or USD 228.8 million, compared to USD 1,337.5 million in the prior year period. Gross profit was USD 414.9 million, or 26.5 percent of net sales, an increase of 25.1 percent, or USD 83.2 million, compared to USD 331.7 million, or 24.8 percent of net sales, in the prior year period. Results for the first quarter of 2023 reflected pricing actions across the business which offset input and freight inflation. Supply chain disruptions eased during the first quarter of 2023 when compared to the prior year period but continued to drive higher manufacturing costs and customer order fulfillment rates below optimal levels.
Selling, general and administrative (SG+A) expenses were USD 228.7 million, or 14.6 percent of net sales, an increase of 3.7 percent, or USD 8.2 million, compared to USD 220.5 million, or 16.5 percent of net sales, in the prior year period. Operating profit was USD 149.9 million, an increase of 91.7 percent, or USD 71.7 million, compared to USD 78.2 million in the prior year period. Net earnings from continuing operations were USD 91.9 million, an increase of 305.6 percent, or USD 136.6 million, compared to a net loss from continuing operations of USD 44.7 million in the prior year period.
For additional information please read the Company’s PDF file below (174 KB):
20230205-POST-Q12023.
