July 13, 2014 3:26 PM ET

Food Products

Company Overview of Post Holdings, Inc.

Company Overview

Post Holdings, Inc. manufactures, markets, and distributes ready-to-eat cereals, snacks, and active nutrition products in the United States and Canada. It offers branded and private label ready-to-eat cereal products, healthy and organic cereals and snacks, granola, high protein bars and shakes, and nutritional supplements. The company offers its products under the brand names of Honey Bunches of Oats, Pebbles, Post Selects, Great Grains, Spoon Size Shredded Wheat, Post Raisin Bran, Grape-Nuts, Honeycomb, Attune, Uncle Sam, Erewhon, Golden Temple, Peace Cereal, Sweet Home Farm, Willamette Valley Granola Company, Premier Protein, and Joint Juice. Post Holdings, Inc. sells its products directl...

2503 South Hanley Road

St. Louis, MO 63144

United States

Founded in 1895

1,600 Employees

Phone:

314-644-7600

Key Executives for Post Holdings, Inc.

Chairman and Chief Executive Officer
Age: 80
Total Annual Compensation: $1.0
President
Age: 66
Total Annual Compensation: $500.0K
Chief Financial Officer
Age: 48
Total Annual Compensation: $427.5K
Principal Accounting Officer and Corporate Controller
Age: 49
Total Annual Compensation: $248.3K
Executive Vice President of Marketing
Age: 55
Total Annual Compensation: $427.5K
Compensation as of Fiscal Year 2013.

Post Holdings, Inc. Key Developments

Post Holdings Launches Exchange Offer for 7.375% Senior Notes Due 2022

Post Holdings, Inc. announced that it has commenced an offer to exchange any and all of its unregistered 7.375% Senior Notes due 2022, CUSIP Nos. 737446AD6 and U7318UAC6, for a like principal amount of new 7.375% Senior Notes due 2022, CUSIP No. 737446AB0. The exchange offer has been registered under the Securities Act of 1933, as amended pursuant to an effective registration statement on Form S-4 filed with the Securities and Exchange Commission. The outstanding unregistered notes were originally issued on July 18, 2013 in a private placement exempt from the registration requirements of the Securities Act. Holders of these notes may exchange them for an equal principal amount of exchange notes. The exchange offer will expire at 5:00 p.m., New York City time, on July 25, 2014, unless extended or terminated. Tenders of outstanding unregistered notes must be properly made before the exchange offer expires and may be withdrawn at any time before the exchange offer expires by following the procedures set forth in the prospectus pertaining to the exchange offer.

Post Holdings Mulls Acquisitions

Post Holdings, Inc. (NYSE:POST) is seeking acquisitions. Post Holdings will use part of proceeds of the offering for financing future acquisition opportunities.

Post Holdings, Inc. Reports Consolidated Unaudited Earnings Results for the Second Quarter and Six Months Ended March 31, 2014; Provides Earnings Guidance for the Year Ending September 30, 2014; Provides Tax Rate Guidance for the Fiscal 2015

Post Holdings, Inc. reported consolidated unaudited earnings results for the second quarter and six months ended March 31, 2014. For the quarter, the company reported net sales were $438.0 million, an increase of $189.8 million, or 76.5%, compared to prior year. Adjusted EBITDA was $63.5 million, up $12.5 million compared to the prior year. Net loss attributable to common stockholders was $22.6 million, or $0.67 per diluted common share compared to net income of $4.3 million or $0.13 per diluted share a year ago. Adjusted net loss attributable to common stockholders was $7.2 million, or $0.21 per diluted common share compared to net income of $6.3 million or $0.19 per diluted share a year ago. Operating loss was $0.3 million against operating profit of $28.9 million a year ago. Loss before income taxes was $37.6 million against income before income taxes of $7.3 million a year ago. For the six months, the company reported net sales were $735.0 million, an increase of $249.9 million, or 51.5%, over the prior year period. Adjusted EBITDA was $119.4 million, up $15.9 million compared to the prior year period. Net loss attributable to common stockholders was $27.6 million, or $0.83 per diluted common share compared to net income of $11.9 million or $0.36 per diluted share a year ago. Adjusted net loss attributable to common stockholders was $7.3 million, or $0.22 per diluted common share compared to net income of $16.3 million or $0.50 per diluted share a year ago. Operating profit was $24.9 million against operating profit of $59.2 million a year ago. Loss before income taxes was $41.4 million against income before income taxes of $18.4 million a year ago. Cash provided by operating activities was $18.5 million against $18.6 million a year ago. Post management continues to expect fiscal 2014 adjusted EBITDA to be between $300 million and $320 million. For the second half of fiscal 2014, Post management expects modest net deflation in commodities and lower levels of promotional activity resulting in improved gross margins when compared to the first half of fiscal 2014. Capital expenditures for fiscal 2014, inclusive of all completed acquisitions to date (which excludes the pending acquisitions of the PowerBar and Musashi brands and of Michael Foods), are expected to be between $90 million and $100 million, an increase from the prior estimate of between $75 million and $85 million. Post management currently expects pro forma adjusted EBITDA for the twelve-month period ended September 30, 2014, calculated as if all acquisitions completed to date were owned for the entire period, will be between $320 million and $340 million. Post management currently estimates that its effective tax rate will stabilize and will be approximately 32%-35% in fiscal year 2015.

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