Post Q4 2020 Earnings Report
Key Takeaways
Post Holdings reported a decrease in net sales for the fourth quarter, offset by growth in BellRing Brands, Weetabix and Refrigerated Retail. The company's operating profit and net earnings increased significantly compared to the prior year period, driven by the absence of non-cash goodwill and other intangible asset impairments. However, Adjusted EBITDA decreased due to challenges in the Foodservice segment.
Fourth quarter net sales reached $1.4 billion, while operating profit was $178.9 million and net earnings were $57.0 million.
Fiscal year net sales amounted to $5.7 billion, with an operating profit of $700.5 million and net earnings of $0.8 million.
The company generated $625.6 million in cash from operations during fiscal year 2020.
Post repurchased 1.5 million shares of its common stock for $125.5 million during the fourth quarter.
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Post Revenue by Segment
Forward Guidance
Under the assumption the COVID-19 pandemic persists through Post’s second quarter, Post management expects Adjusted EBITDA for the first half of fiscal year 2021 to be between $520-$550 million and is expected to favor the first quarter. Post management expects Post’s fiscal year 2021 capital expenditures to range between $225-$250 million, including approximately $4 million attributable to BellRing.
Revenue & Expenses
Visualization of income flow from segment revenue to net income