Post Holdings (POST) Q4 FY2023 earnings: revenue $1.9 billion, up 23.2% on the year

Post Holdings, Inc. (POST) reported revenue of $1.9 billion for Q4 FY2023, the quarter ended 30 September 2023, up 23.2% on the same quarter a year earlier. Net income was $66 million, down 21.7% on the year, and diluted earnings per share $1.01. The figures are the company's own, from the 10-K it filed with the SEC on 17 November 2023.

Revenue$1.9 billionup 23.2%

Net income$66 milliondown 21.7%

Diluted EPS$1.01

QuarterQ4 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Revenue	1,945	n/a	n/a	n/a
Cost of revenue	1,394	n/a	n/a	n/a
Gross profit	551	n/a	n/a	n/a
Gross margin	28.3%	n/a	n/a
Selling, general and administrative	310	n/a	n/a	n/a
Operating income	153	n/a	n/a	n/a
Operating margin	7.9%	n/a	n/a
Interest expense	76.7	n/a	n/a	n/a
Pre-tax income	94.9	n/a	n/a	n/a
Income tax	29.3	n/a	n/a	n/a
Effective tax rate	30.9%	n/a	n/a
Net income	65.7	n/a	n/a	n/a
Net margin	3.4%	n/a	n/a
Diluted EPS	$1.01	n/a	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	270	n/a	n/a	n/a
Capital expenditure	101	n/a	n/a	n/a
Free cash flow	169	n/a	n/a	n/a
Free cash flow margin	8.7%	n/a	n/a
Cash from investing	-101	n/a	n/a	n/a
Cash from financing	-276	n/a	n/a	n/a
Depreciation and amortisation	114	n/a	n/a	n/a
Share-based compensation	20.0	n/a	n/a	n/a
Shares outstanding at period end	60m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	3,842	n/a	n/a	n/a
Non-controlling interest	9.2	n/a	n/a	n/a
Redeemable equity	0.0	n/a	n/a	n/a
Debt	6,039	n/a	n/a	n/a
Operating lease liabilities	170	n/a	n/a	n/a
Other liabilities	1,587	n/a	n/a	n/a
Total liabilities and equity	11,647	n/a	n/a	n/a
Fixed assets	2,021	n/a	n/a	n/a
Goodwill	4,574	n/a	n/a	n/a
Intangible assets	3,212	n/a	n/a	n/a
Cash and equivalents	93.3	n/a	n/a	n/a
Receivables	512	n/a	n/a	n/a
Inventory	790	n/a	n/a	n/a
Other assets	443	n/a	n/a	n/a
Total assets	11,647	n/a	n/a	n/a

Quarterly results, the last 12 quarters

	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	1,945	1,966	1,999	1,948	2,010	1,975	1,952	1,984	2,247	2,175	2,043	1,948
Cost of revenue	1,394	1,393	1,419	1,370	1,435	1,379	1,406	1,388	1,645	1,536	1,425	1,382
Gross profit	551	573	580	577	575	595	546	596	602	638	618	566
Gross margin	28%	29%	29%	30%	29%	30%	28%	30%	27%	29%	30%	29%
SG&A	310	323	341	324	342	332	315	312	350	357	326	326
Operating income	153	209	190	203	191	214	182	235	168	238	212	189
Operating margin	8%	11%	10%	10%	9%	11%	9%	12%	7%	11%	10%	10%
Interest expense	76.7	78.1	80.0	78.8	79.6	84.1	87.0	88.5	102	103	106	108
Pre-tax income	94.9	117	126	132	97.9	145	82.4	143	72.9	124	110	86.6
Tax rate	31%	24%	23%	24%	17%	22%	24%	24%	30%	22%	26%	27%
Net income	65.7	88.1	97.2	99.8	81.6	113	62.6	109	51.0	96.8	81.9	63.4
Net margin	3%	4%	5%	5%	4%	6%	3%	5%	2%	4%	4%	3%
Diluted EPS	$1.01	$1.35	$1.48	$1.53	$1.28	$1.78	$1.03	$1.79	$0.88	$1.71	$1.56	$1.29
Operating cash flow	270	174	250	272	235	310	161	226	301	236	242	213
Capital expenditure	101	80.8	98.7	111	139	139	90.5	131	150	116	91.3	82.1
Free cash flow	169	93.6	151	162	96.2	171	70.2	94.9	152	119	151	131
Shares outstanding	60m	61m	61m	58m	58m	56m	56m	54m	52m	48m	45m	44m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 30 September 2023, filed 17 November 2023, accession 0001530950-23-000350: the filing on EDGAR. All of Post Holdings, Inc.'s filings: EDGAR company page.

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