Post clarifies the setback with avian influenza
Post Holdings revised its view for fiscal year 2024 adjusted EBITDA to a range of $1.22 billion to $1.28 billion, up from an earlier estimate of $1.2 billion to $1.26 billion, in addition to providing an update on the AI outbreak. The business claims that the adjustment takes into account the contribution of 10 months from the previously disclosed acquisition of Perfection Pet Foods, LLC, which was finalized on December 1.
“Post management feels the associated financial impact is within the tolerances of the range, so no changes were made to the outlook range for today’s announcement of avian influenza,” the business stated. “A considerable increase in avian influenza within Post’s network, the impact of which is unknown, is not accounted for in the updated guidance range.”
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For the year that concluded on September 30, Post Holdings’ net income was $301.3 million, or $5.21 per share of common stock. Post Holdings reported a net income of $756.6 million in the 2022 fiscal year, or $12.07 per share. However, the results were impacted by a $437.1 million one-time benefit associated with the Bellring Brands spin-off. Profits for the year increased significantly to $6.99 billion from $5.85 billion, mostly as a result of the pet food acquisition.