ST. LOUIS, Nov. 23, 2015 (GLOBE NEWSWIRE) -- Post Holdings, Inc., a consumer packaged goods holding company, reported results today for the fourth quarter and fiscal year ended September 30, 2015.
Highlights:
- Fourth Quarter net sales of $1.3 billion and Adjusted EBITDA of $193.1 million
- Fiscal Year net sales of $4.6 billion and Adjusted EBITDA of $657.4 million
- Fiscal 2016 Adjusted EBITDA guidance of between $780 million and $820 million
Fourth Quarter Consolidated Operating Results
Fourth quarter net sales were $1,309.8 million, an increase of $266.7 million, or 25.6%, compared to the prior year. The sales increase was driven primarily by three acquisitions completed in fiscal 2015. On a comparable basis, net sales were flat when compared to the same period in fiscal 2014.
Gross profit increased $104.6 million to $333.3 million for the fourth quarter compared to the prior year. Selling, general and administrative (SG&A) expenses for the fourth quarter were $197.2 million or 15.1% of net sales.
Adjusted EBITDA was $193.1 million for the fourth quarter, up $55.8 million compared to the prior year, primarily driven by the acquisition of MOM Brands, as well as organic Adjusted EBITDA growth in each of Post’s businesses, except Dymatize.
The net loss attributable to common shareholders was ($76.8) million, or ($1.21) per diluted common share, for the fourth quarter. Adjusted net earnings available to common shareholders were $4.1 million, or $0.06 per diluted common share. Weighted-average diluted common shares outstanding was 63.6 million shares which includes the fiscal 2015 common stock issuances of 16.7 million shares presented on a weighted-average basis.
Fiscal Year 2015 Consolidated Operating Results
Net sales for fiscal year 2015 were $4,648.2 million, an increase of $2,237.1 million, or 92.8%, compared to the prior year. Gross profit increased $553.2 million to $1,174.4 million compared to the prior year. SG&A expenses for fiscal year 2015 were $734.1 million or 15.8% of net sales and included $14.1 millionof transaction expenses.
Other operating expenses, net were $25.1 million for fiscal year 2015 and primarily related to adjustments to the carrying value of facilities and other assets which were classified as held for sale. Operating profit of $273.5 million was negatively impacted by $25.6 million of expenses primarily associated with the announced closures of the Parsippany, New Jersey office and the Boise, Idaho and Farmers Branch, Texas manufacturing facilities.
Adjusted EBITDA was $657.4 million for fiscal year 2015, up $312.9 million compared to the prior year.
For the fiscal year ended September 30, 2015, the net loss attributable to common shareholders was ($132.3) million, or ($2.33) per diluted common share. Adjusted net earnings available to common shareholders were $35.7 million, or $0.62 per diluted common share. Full report.
