Source: Pet Food Processing
Post Holdings, Inc. has reported positive outcomes from its recent entry into the Pet Food sector, contributing to a 71.5% year-over-year increase in Post Consumer Brands’ net sales to $1.01 billion in Q4. Pet food sales accounted for approximately 40% of quarterly revenue, reaching $404.5 million. The company’s Q4 segment profit rose by 72% year-over-year to $141 million, with segment adjusted EBITDA reaching $199.7 million, up by 73.1%. For the full year, Post Consumer Brands achieved net sales of $3.03 billion, a 35.2% increase, with pet food contributing $679.8 million.
Post Holdings acquired pet food brands from The J.M. Smucker Co. for $1.2 billion earlier in the year, and a pending acquisition of Perfection Pet Foods for $235 million is anticipated to close in Q4 2023. The company’s full-year 2024 guidance includes a capital expenditure of $400 million to $425 million, focusing on enhancing quality, safety, capacity, and distribution for its new pet food segment. Adjusted EBITDA for fiscal year 2024 is projected to be between $1.20 billion and $1.26 billion, excluding benefits from the pending acquisition of Perfection Pet Foods.
Read the full story HERE: https://www.petfoodprocessing.net/articles/17627-post-holdings-to-inject-up-to-100-million-into-pet-food-operations-in-2024