Post Holdings (POST) Q4 2024 earnings summary

Executive summary

• Achieved strong Q4 and full-year results, with Adjusted EBITDA up 45% over two years and 13.8% year-over-year, driven by organic growth and pet acquisitions.

• Generated approximately $1 billion in free cash flow over two years, with FY24 alone producing $500 million net of elevated CapEx and $502.2 million in free cash flow.

• Recent acquisitions include Smucker's pet food business, Perfection Pet Foods, and Deeside Cereals, integrated into respective segments.

• Improved manufacturing supply chains and saw pet business performance exceed acquisition expectations by over 2x.

• Matt Mainer was promoted to Executive Vice President, CFO and Treasurer, effective November 13, 2024.

Financial highlights

• Q4 consolidated net sales were $2.01 billion, up 3.3% year-over-year, with gross profit margin rising to 28.6%.

• Q4 net earnings grew 24.2% to $81.6 million; diluted EPS was $1.28, up from $1.01.

• Fiscal year net sales rose 13.3% to $7.92 billion; gross profit margin improved to 29.1%.

• Adjusted EBITDA for the year was $1,403.6 million, up 13.8% year-over-year.

• Free cash flow for FY24 was approximately $500 million, with $235 million generated in Q4.

Outlook and guidance

• FY25 Adjusted EBITDA expected in the range of $1.41–$1.46 billion, with balanced quarterly cadence and segment variations.

• CapEx guidance remains elevated at $380–$420 million, with most investments completing in FY25 and some extending into FY26.

• Expect more normalized operating environment in FY25; inflation has leveled but not receded, and consumer volumes remain pressured.