Post Holdings, Inc. (POST): Results of Operations and Financial Condition
Post Holdings, Inc. (POST) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Post Holdings Reports Results for the Third Quarter of Fiscal Year 2026; Narrows Fiscal Year 2026 Outlook St. Louis - August 6, 2026 - Post Holdings, Inc. (NYSE:POST), a consumer packaged goods holding company, today reported results for the third fiscal quarter ende
How this was made
The 30-second read
Why it matters
The filing combines quarterly performance metrics with a guidance range change, which can re-anchor expectations for FY2026 profitability and segment momentum.
Market read
Guidance narrowing to $1,560-$1,570 million for FY2026 Adjusted EBITDA is the actionable headline, while GAAP earnings deterioration highlights ongoing margin and demand pressures.
What to watch
Segment volume declines are attributed to distribution losses and category declines in pet food and value cereal, plus avian influenza pricing lapping in Foodservice and Refrigerated Retail, which could imply uneven recovery timing across segments.
Post Holdings Reports Results for the Third Quarter of Fiscal Year 2026; Narrows Fiscal Year 2026 Outlook
Third-quarter net sales, operating profit, net earnings and Adjusted EBITDA declined versus the prior-year period, while Post Consumer Brands and Weetabix increased segment profit and fiscal year 2026 Adjusted EBITDA outlook was narrowed to $1,560-$1,570 million.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Net salesGAAP | $1,948.0 million | – | decrease of 1.8%, or $36.3 million |
| Gross profitGAAP | $566.3 million, or 29.1% of net sales | – | decrease of 5.0%, or $29.9 million |
| Selling, general and administrative expensesGAAP | $326.1 million, or 16.7% of net sales | – | increase of 4.5%, or $14.0 million |
| Operating profitGAAP | $189.3 million | – | decrease of 19.3%, or $45.3 million |
| Net earningsGAAP | $63.4 million | – | decrease of 41.7%, or $45.4 million |
| Diluted earnings per common shareGAAP | $1.29 | – | – |
| Adjusted net earningsnon-GAAP | $91.1 million | – | – |
| Adjusted diluted earnings per common sharenon-GAAP | $1.78 | – | – |
| Adjusted EBITDAnon-GAAP | $377.3 million | – | decrease of 5.0%, or $19.7 million |
| Interest expense, netGAAP | $108.2 million | – | – |
| Income on swaps, netGAAP | $3.3 million | – | – |
| Income tax expenseGAAP | $23.1 million | – | – |
| Effective income tax rateGAAP | 26.7% | – | – |
| Nine-month net salesGAAP | $6,165.5 million | – | increase of $254.4 million |
| Nine-month gross profitGAAP | $1,822.4 million, or 29.6% of net sales | – | increase of 4.9%, or $85.1 million |
| Nine-month selling, general and administrative expensesGAAP | $1,009.6 million, or 16.4% of net sales | – | increase of 5.3%, or $51.1 million |
| Nine-month operating profitGAAP | $639.6 million | – | increase of 1.4%, or $8.7 million |
| Nine-month net earningsGAAP | $242.1 million | – | decrease of 15.0%, or $42.6 million |
| Nine-month diluted earnings per common shareGAAP | $4.59 | – | – |
| Nine-month adjusted net earningsnon-GAAP | $319.5 million | – | – |
| Nine-month adjusted diluted earnings per common sharenon-GAAP | $5.86 | – | – |
| Nine-month Adjusted EBITDAnon-GAAP | $1,190.5 million | – | increase of 6.9%, or $77.1 million |
| Nine-month loss on extinguishment of debt, netGAAP | $17.5 million | – | – |
| Nine-month income on swaps, netGAAP | $6.9 million | – | – |
| Nine-month income tax expenseGAAP | $78.5 million | – | – |
| Nine-month effective income tax rateGAAP | 24.5% | – | – |
| Post Consumer Brands segment profitGAAP | $127.3 million | – | increase of 5.6%, or $6.8 million |
| Post Consumer Brands segment Adjusted EBITDAnon-GAAP | $197.3 million | – | increase of 11.2%, or $19.8 million |
| Foodservice segment profitGAAP | $100.8 million | – | decrease of 18.6%, or $23.1 million |
| Foodservice segment Adjusted EBITDAnon-GAAP | $140.8 million | – | decrease of 11.4%, or $18.2 million |
| Refrigerated Retail segment profitGAAP | $9.5 million | – | decrease of 61.2%, or $15.0 million |
| Refrigerated Retail segment Adjusted EBITDAnon-GAAP | $26.6 million | – | decrease of 41.3%, or $18.7 million |
| Weetabix segment profitGAAP | $26.1 million | – | increase of 35.2%, or $6.8 million |
| Weetabix segment Adjusted EBITDAnon-GAAP | $37.3 million | – | increase of 13.7%, or $4.5 million |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Post Consumer BrandsNet sales included $141.8 million in the third quarter attributable to 8th Avenue. Excluding the benefit of 8th Avenue in the current year period, volumes decreased 7.1% as pet food volumes declined 7.8% and cereal and granola volumes declined 5.5%. | $974.2 million | – | increase of 6.6%, or $60.2 million |
| FoodserviceVolumes increased 4.3%, driven by improved customer service levels and improved production in protein-based shakes. Declines in net sales, segment profit and segment Adjusted EBITDA reflect the lapping of avian influenza pricing in the prior year period. | $652.9 million | – | decrease of 6.5%, or $45.6 million |
| Refrigerated RetailNet sales included $10.3 million and $37.1 million in the third fiscal quarters of 2026 and 2025, respectively, related to the Crystal Farms Business. Excluding contributions from the Crystal Farms Business in both periods, volumes decreased 4.9%, primarily due to the shifting of Easter demand out of the quarter and the normalization of egg demand in the current year period. | $184.5 million | – | decrease of 21.1%, or $49.4 million |
| WeetabixNet sales reflected a foreign currency exchange rate tailwind of approximately 40 basis points. Volumes decreased 3.8%, primarily driven by declines in private label products. | $137.1 million | – | decrease of 0.6%, or $0.8 million |
fiscal year 2026 outlook
- NoteAdjusted EBITDA (non-GAAP): $1,560-$1,570 million
Capital returns
- During the third quarter of fiscal year 2026, Post repurchased 2.1 million shares of its common stock for $198.9 million.
What drove it
- Net sales included $141.8 million in net sales from 8th Avenue in the current year period.
- Excluding contributions from acquisitions and divestitures in the current and prior year periods, net sales declined across Post Consumer Brands, Foodservice and Refrigerated Retail, while Weetabix sales were flat.
- Post Consumer Brands volume declines were driven by pet food and value cereal volume declines.
- Foodservice volumes increased 4.3%, driven by improved customer service levels and improved production in protein-based shakes.
- Weetabix segment profit increased 35.2%, or $6.8 million, and segment Adjusted EBITDA increased 13.7%, or $4.5 million.
Concerns
- Gross profit declined to 29.1% of net sales from 30.0% of net sales.
- Operating profit decreased 19.3%, or $45.3 million, and net earnings decreased 41.7%, or $45.4 million.
- Foodservice results reflected the lapping of avian influenza pricing in the prior year period.
- Refrigerated Retail results primarily reflected the sale of the Crystal Farms Business in the current year period and the lapping of avian influenza pricing in the prior year period.
- Interest expense, net increased to $108.2 million from $88.5 million, driven by higher average outstanding principal amounts of debt, a higher weighted-average interest rate and lower interest income.
What to watch
- Fiscal year 2026 Adjusted EBITDA (non-GAAP) outlook of $1,560-$1,570 million.
- Post Consumer Brands pet food volumes, which declined 7.8%, and cereal and granola volumes, which declined 5.5%, excluding the benefit of 8th Avenue.
- Foodservice performance following the lapping of avian influenza pricing in the prior year period.
- Refrigerated Retail volume trends following the shifting of Easter demand out of the quarter and normalization of egg demand.
- Preliminary fiscal year 2027 Adjusted EBITDA commentary, the details of which were not included in the provided filing text.
Analysis
Post reported third-quarter net sales of $1,948.0 million, down 1.8%, or $36.3 million, from the prior-year period. The reported sales base included $141.8 million from 8th Avenue. Excluding contributions from acquisitions and divestitures in the current and prior-year periods, sales declined in Post Consumer Brands, Foodservice and Refrigerated Retail, while Weetabix sales were flat. Post Consumer Brands reported revenue growth, but excluding 8th Avenue its volumes decreased 7.1%, with pet food volumes down 7.8% and cereal and granola volumes down 5.5%.
Profitability weakened in the quarter. Gross profit declined to $566.3 million, or 29.1% of net sales, from $596.2 million, or 30.0% of net sales. SG&A expenses increased to $326.1 million, or 16.7% of net sales, from $312.1 million, or 15.7% of net sales. Operating profit fell 19.3% to $189.3 million, net earnings fell 41.7% to $63.4 million, and Adjusted EBITDA declined 5.0% to $377.3 million. Interest expense, net increased to $108.2 million from $88.5 million.
The segment outcome was uneven. Post Consumer Brands segment Adjusted EBITDA increased 11.2% to $197.3 million, supported by 8th Avenue, and Weetabix segment Adjusted EBITDA increased 13.7% to $37.3 million. Foodservice segment Adjusted EBITDA declined 11.4% to $140.8 million despite a 4.3% volume increase, as results lapped avian influenza pricing in the prior-year period. Refrigerated Retail segment Adjusted EBITDA declined 41.3% to $26.6 million, reflecting the sale of the Crystal Farms Business and the lapping of avian influenza pricing.
For the nine months ended June 30, 2026, net sales increased to $6,165.5 million and Adjusted EBITDA increased 6.9% to $1,190.5 million, while net earnings decreased 15.0% to $242.1 million. Post narrowed fiscal year 2026 Adjusted EBITDA outlook to $1,560-$1,570 million. The release also states that preliminary fiscal year 2027 Adjusted EBITDA commentary was provided, but the details were not included in the provided filing text.
Capital allocation included the repurchase of 2.1 million common shares for $198.9 million during the third quarter. The disclosed results show stronger segment profit growth at Weetabix and reported growth at Post Consumer Brands, offset by lower consolidated sales, margin contraction, higher SG&A as a percentage of sales, higher interest expense and declines in Foodservice and Refrigerated Retail profitability.
Not in the filing
stated, not guessed- Previous-release outlook was not provided, so comparison with prior guidance is unavailable.
- Cash balance was not included in the provided filing text.
- Debt balance was not included in the provided filing text.
- Operating cash flow was not included in the provided filing text.
- Free cash flow was not included in the provided filing text.
- Dividend information was not included in the provided filing text.
- Complete share-repurchase disclosure, including the reported average price text following '$98.86 per sh', was truncated from the provided filing text.
- Details of preliminary fiscal year 2027 Adjusted EBITDA commentary were not included in the provided filing text.
- Fiscal year 2026 revenue, gross margin, operating expenses and tax-rate guidance were not included in the provided filing text.
- Named executive commentary and executive quotes were not included in the provided filing text.
- Prior-quarter comparisons for reported metrics were not included in the provided filing text.
- Prior-year numerical values for third-quarter segment revenue, segment profit and segment Adjusted EBITDA were not printed on their respective segment result lines.
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
This is an SEC 8-K (Item 2.02) with an earnings release exhibit covering Post’s third fiscal quarter ended June 30, 2026, plus updated FY2026 Adjusted EBITDA outlook.
Ticker impact
Post reported Q3 FY2026 results and narrowed FY2026 Adjusted EBITDA outlook to $1,560-$1,570 million.
Near-term bias depends on how the market weighs weaker GAAP earnings versus the narrowed Adjusted EBITDA guidance; expect sensitivity around the guidance range.
The filing provides multiple hard datapoints: Q3 net sales $1.948B, operating profit down 19.3%, net earnings down 41.7%, and a narrowed FY2026 Adjusted EBITDA range, which typically drives valuation and positioning more than GAAP earnings alone.
Market effects
Signals demand and margin pressure dynamics in consumer packaged goods, including pet food and cereal volume softness and lapping of avian influenza pricing.
Primarily North American operations, so read-through is most relevant to US consumer staples and food supply chains.
Limited direct global catalyst beyond commodity/inputs and disease-related pricing normalization referenced in segment commentary.
Counterpoint
Traders may overemphasize GAAP net earnings decline; the market could focus on Adjusted EBITDA and the narrowed outlook as evidence of stabilization.
Key entities
- issuerPost Holdings, Inc.
Consumer packaged goods holding company reporting Q3 FY2026 results and narrowing FY2026 Adjusted EBITDA outlook.
- divestitureCrystal Farms Business
Sale of substantially all assets completed May 1, 2026, with results previously reported in Refrigerated Retail.
- acquisition8th Avenue Food & Provisions, Inc.
Acquisition completed July 1, 2025; later sale of its pasta business completed Dec 1, 2025.
