Post Posts 4Q Loss on Plant Closure Costs

NEWS: Post Holdings Inc. on Wednesday reported a fiscal fourth-quarter loss, as it was weighed down by charges tied to a plant closure, but recent acquisitions helped lift the cereal maker’s sales.

DETAILS: The company was hurt by $4.8 million in depreciation charges during the quarter associated with a California plant that it’s closing, as well as other special costs.

Sales got a boost from recent deals. Post has been on an acquisition streak, buying Attune Foods in December, Hearthside foods business in May and Premier Nutrition in September. It also said in September that it plans to acquire Dakota Growers Pasta Co. and the deal is expected to be complete in January.

NUMBERS: Post reported a loss of $3.2 million, or 10 cents per share, for the quarter that ended Sept. 30. That is compared with net income of $10.8 million, or 31 cents per share, last year.

Excluding one-time items, per-share earnings fell to 16 cents from 35 cents.

Revenue increased 18 percent to $291.7 million.

Analysts polled by FactSet were anticipating 17 cents per share on revenue of $276 million.

FUTURE: Post Holdings said it expects adjusted earnings before interest, tax, debt and amortization to be between $245 million and $260 million for the current fiscal year. That’s up from $216.7 million for the year that ended in September.

STOCK: Shares of the St. Louis company fell 43 cents to close at $45.72 Wednesday, and were unchanged in after-hours trading.