Post Holdings (POST) Q3 2025 earnings summary

Executive summary

• Q3 net sales rose 1.9% to $2.0 billion, with strong Foodservice and Refrigerated Retail performance offsetting declines in Post Consumer Brands; operating profit was $234.6 million and net earnings $108.8 million.

• Adjusted EBITDA for Q3 was $397.0 million, up 13.4% year-over-year; FY25 Adjusted EBITDA guidance raised to $1,500–$1,520 million.

• Completed acquisitions of Potato Products of Idaho in March and 8th Avenue Food & Provisions in July, with integration planned for FY 2026.

• Leadership changes included a new COO appointment and ongoing focus on long-term value creation through capital allocation.

• Strategy emphasizes optimizing equity, above-peer leverage, aggressive share buybacks, and opportunistic M&A.

Financial highlights

• Net sales for Q3 were $1,984.3 million, up 2% year-over-year; operating profit was $234.6 million, and net earnings $108.8 million.

• Adjusted EBITDA for Q3 was $397 million, with 32% growth in Foodservice and 94% in Refrigerated Retail.

• Free cash flow for the nine months was $336.5 million, with $226 million generated from operations in Q3.

• Net leverage at quarter-end was 4.3x, rising to 4.5x post-8th Avenue acquisition; no major debt maturities until 2027.

• Gross margin for Q3 was 30.0%, up from 29.6% year-over-year.

Outlook and guidance

• FY25 Adjusted EBITDA guidance raised to $1,500–$1,520 million, with Q4 expected to be flat versus Q3.

• Management targets >3% blended Adjusted EBITDA growth across segments, with all free cash flow used to retire debt.

• Capital expenditures for FY25 expected to be $450–$480 million, focused on network optimization and facility expansions.

• Cold chain businesses expected to decline sequentially as avian influenza pricing adders wind down, partially offset by seasonal cereal strength.

• New tax law (H.R. 1) expected to reduce cash taxes by ~$300 million over five years.