post-20241231

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

__________________

FORM 10-Q

__________________

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended December 31, 2024

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____ to _____

Commission File Number: 1-35305

Post Holdings, Inc.

(Exact name of registrant as specified in its charter)


Missouri						45-3355106
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)

2503 S. Hanley Road

St. Louis, Missouri 63144

(Address of principal executive offices) (Zip Code)

(314) 644-7600

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 par value per share	POST	New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer	☒	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:

Common Stock, $0.01 par value per share – 56,481,848 shares as of February 3, 2025

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POST HOLDINGS, INC.

QUARTERLY REPORT ON FORM 10-Q

TABLE OF CONTENTS


		Page
PART I.	FINANCIAL INFORMATION

Item 1.	Financial Statements (Unaudited)	1

	Condensed Consolidated Statements of Operations (Unaudited)	1

	Condensed Consolidated Statements of Comprehensive Income (Unaudited)	2

	Condensed Consolidated Balance Sheets (Unaudited)	3

	Condensed Consolidated Statements of Cash Flows (Unaudited)	4

	Condensed Consolidated Statements of Shareholders’ Equity (Unaudited)	5

	Notes to Condensed Consolidated Financial Statements (Unaudited)	6

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	19

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	26

Item 4.	Controls and Procedures	27

PART II.	OTHER INFORMATION

Item 1.	Legal Proceedings	27

Item 1A.	Risk Factors	27

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	28

Item 5.	Other Information	28

Item 6.	Exhibits	29

	SIGNATURES	31

Table of Contents

PART I. FINANCIAL INFORMATION.

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED).

POST HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(in millions, except per share data)


	Three Months Ended December 31,
		2024		2023
Net Sales		$	1,974.7	$	1,965.9
Cost of goods sold		1,379.4		1,393.3
Gross Profit		595.3		572.6
Selling, general and administrative expenses		331.6		322.9
Amortization of intangible assets		49.1		45.7


Other operating expense (income), net		0.5		(5.3)
Operating Profit		214.1		209.3
Interest expense, net		84.1		78.1
Loss (gain) on extinguishment of debt, net		5.8		(3.1)
(Income) expense on swaps, net		(15.4)		21.1


Other income, net		(5.8)		(3.5)
Earnings before Income Taxes and Equity Method (Earnings) Loss		145.4		116.7
Income tax expense		32.1		28.5
Equity method (earnings) loss, net of tax		(0.1)		0.1
Net Earnings Including Noncontrolling Interest		113.4		88.1
Less: Net earnings attributable to noncontrolling interest		0.1		—
Net Earnings		$	113.3	$	88.1











Earnings per Common Share:
Basic		$	1.94	$	1.46
Diluted		$	1.78	$	1.35
Weighted-Average Common Shares Outstanding:
Basic		58.3		60.5
Diluted		65.2		67.3

See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited).

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POST HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)

(in millions)


	Three Months Ended December 31,
		2024		2023



Net Earnings Including Noncontrolling Interest		$	113.4	$	88.1
Pension and other postretirement benefits adjustments:

Reclassifications to net earnings		0.3		(0.4)





Foreign currency translation adjustments:
Unrealized foreign currency translation adjustments		(109.5)		65.4

Tax (expense) benefit on other comprehensive income (loss):
Pension and other postretirement benefits adjustments:

Reclassifications to net earnings		(0.1)		0.1




Total Other Comprehensive (Loss) Income Including Noncontrolling Interest		(109.3)		65.1
Less: Comprehensive income (loss) attributable to noncontrolling interest		0.1		(0.4)
Total Comprehensive Income		$	4.0	$	153.6

See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited).

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POST HOLDINGS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(in millions)


	December 31, 2024		September 30, 2024
ASSETS
Current Assets
Cash and cash equivalents	$	872.9	$	787.4
Restricted cash	2.2		3.5
Receivables, net	608.4		582.9
Inventories	739.9		754.2





Prepaid expenses and other current assets	124.6		103.6
Total Current Assets	2,348.0		2,231.6
Property, net	2,299.9		2,311.7
Goodwill	4,641.2		4,700.7
Other intangible assets, net	3,070.6		3,146.0





Other assets	459.9		464.2
Total Assets	$	12,819.6	$	12,854.2

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Current portion of long-term debt	$	1.2	$	1.2
Accounts payable	563.2		483.8


Other current liabilities	416.9		459.9
Total Current Liabilities	981.3		944.9
Long-term debt	6,944.4		6,811.6
Deferred income taxes	663.2		653.0


Other liabilities	332.6		343.4
Total Liabilities	8,921.5		8,752.9

Shareholders’ Equity

Common stock	0.9		0.9
Additional paid-in capital	5,306.3		5,331.5
Retained earnings	1,896.5		1,783.2
Accumulated other comprehensive (loss) income	(102.9)		6.4
Treasury stock, at cost	(3,213.5)		(3,031.4)
Total Shareholders’ Equity Excluding Noncontrolling Interest	3,887.3		4,090.6
Noncontrolling interest	10.8		10.7
Total Shareholders’ Equity	3,898.1		4,101.3
Total Liabilities and Shareholders’ Equity	$	12,819.6	$	12,854.2

See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited).

SEC Form 10-Q filed by Post Holdings Inc.