Post Holdings Reports Avian Influenza at Third-Party Contracted Facilities and Affirms Fiscal Year 2024 Adjusted EBITDA Outlook
Post Holdings, Inc. based in St. Louis, Missouri, disclosed details today about avian influenza occurrences at two of Michael Foods’ third-party contracted egg-laying facilities. The company also reassured investors by confirming its non-GAAP Adjusted EBITDA guidance for fiscal year 2024.
**Avian Influenza Discussion**
Recent tests revealed that Michael Foods’ third-party contracted egg-laying flocks in Minnesota and Iowa have tested positive for avian influenza. These facilities collectively house around 5.7 million egg-laying hens, representing approximately 14% of Post’s controlled supply, which includes both owned and third-party contracted farms.
**Fiscal Year 2024 Outlook**
Post management stood by its previous outlook for fiscal year 2024 Adjusted EBITDA, estimating it to be in the range of $1,335-$1,375 million. The company believes that the financial impact of the avian influenza incidents falls within the anticipated range. However, the guidance does not factor in a significant spread of avian influenza within Post’s network, the consequences of which remain uncertain.
**APHIS Tracking and Non-GAAP Measure**
The APHIS division of the USDA, along with individual states, monitor and report incidents of avian influenza. Post does not anticipate providing further updates on specific incidents unless subsequent occurrences collectively surpass an additional 5% of Post’s controlled supply. Post relies on Adjusted EBITDA as a non-GAAP measure to complement its financial reporting and decision-making processes.
**Conclusion**
In conclusion, Post Holdings’ disclosure regarding avian influenza incidents at contracted facilities underscores the ongoing challenges faced by the poultry industry. Despite this setback, the company remains committed to its fiscal year 2024 financial outlook. Investors and stakeholders will be closely monitoring developments in the coming months as the situation evolves.
For more information, visit www.postholdings.com.
Contact:
Investor Relations
Daniel O’Rourke
daniel.orourke@postholdings.com
(314) 806-3959
Media Relations
Tara Gray
tara.gray@postholdings.com
(314) 644-7648
