Post Holdings provided certain preliminary unaudited selected financial data for the third quarter of fiscal 2016

OREANDA-NEWS. Post Holdings, Inc. (NYSE:POST) (the “Company” or “Post”) today provided certain preliminary unaudited selected financial data for the third quarter of fiscal 2016, and provided an update to its previously issued non-GAAP Adjusted EBITDA guidance for fiscal 2016. This release should be read in conjunction with the financial statements and management’s discussion and analysis included in the Company’s filings with the Securities and Exchange Commission (“SEC”), as well as the matters discussed under “Risk Factors” in the Company’s Form 10-K for the fiscal year ended September 30, 2015.

Preliminary Unaudited Selected Financial Data for the Third Quarter of Fiscal 2016

The following are preliminary estimates for the fiscal quarter ended June 30, 2016:

• Net sales of approximately $1,246.1 million; 
• Net earnings of approximately $3.3 million; and 
• Adjusted EBITDA of approximately $231.0 million.

The preliminary financial data discussed above consist of estimates derived from Post’s internal books and records and have been prepared by, and are the responsibility of, Post’s management, are based upon information available to management as of the date hereof, and have not been prepared with a view toward compliance with published guidelines of the SEC or the guidelines of the American Institute of Certified Public Accountants for the preparation or presentation of financial information. The preliminary estimates discussed above are subject to the completion of financial closing procedures, final adjustments and other developments that may arise between now and the time the financial results for the third quarter are finalized. Therefore, actual results may differ materially from these estimates and all of these preliminary estimates are subject to change. In addition, preliminary results for the third quarter are not necessarily indicative of operating results for any future period or results for the full year.

Adjusted EBITDA is a non-GAAP measure. For additional information regarding Post’s non-GAAP measures, see the related explanations presented under “Use of Non-GAAP Measures” and “Explanation and Reconciliation of Non-GAAP Measures” later in this release.

Outlook

Post management has raised its fiscal 2016 Adjusted EBITDA guidance range to $915-$925 million, from $893-$913 million. Of the previously announced incremental $25 million investment in brand building and productivity, approximately $9 million remains to be incurred in the fourth quarter of fiscal year 2016. While Post’s annual planning process is not complete, Post management expects fiscal year 2017 Adjusted EBITDA to exceed $900 million.

Post provides guidance only on a non-GAAP basis and does not provide a reconciliation of its forward-looking Adjusted EBITDA non-GAAP guidance measure to the most directly comparable GAAP measure due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation, including adjustments that could be made for non-cash mark-to-market adjustments and settlements on interest rate swaps, transaction and integration costs, restructuring and plant closure costs, losses on assets held for sale and other charges reflected in the Company’s reconciliation of historic numbers, the amounts of which, based on historical experience, could be significant. For additional information regarding Post’s non-GAAP measures, see the related explanations presented under “Use of Non-GAAP Measures” later in this release.

Use of Non-GAAP Measures

The Company uses Adjusted EBITDA, a non-GAAP measure, in this release to supplement the financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP). Adjusted EBITDA is not prepared in accordance with U.S. GAAP, as it excludes certain items as listed later in this release, and may not be comparable to similarly-titled measures of other companies. The reconciliation of this non-GAAP measure to the most directly comparable GAAP measure is provided at the end of this release under “Explanation and Reconciliation of Non-GAAP Measures.”

Management uses certain non-GAAP measures, including Adjusted EBITDA, as key metrics in the evaluation of underlying Company and segment performance, in making financial, operating and planning decisions, and, in part, in the determination of cash bonuses for its executive officers and employees. Management believes the use of non-GAAP measures, including Adjusted EBITDA, provides increased transparency and assists investors in understanding the underlying operating performance of the Company and its segments and in the analysis of ongoing operating trends.

Prospective Financial Information

Prospective financial information is necessarily speculative in nature, and it can be expected that some or all of the assumptions underlying the prospective financial information described above will not materialize or will vary significantly from actual results. For further discussion of some of the factors that may cause actual results to vary materially from the information provided above see “Forward-Looking Statements” below. Accordingly, the prospective financial information provided above is only an estimate of what Post management believes is realizable as of the date of this press release. It should also be recognized that the reliability of any forecasted financial data diminishes the farther in the future that the data is forecast. In light of the foregoing, the information should be viewed in context and undue reliance should not be placed upon it.