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Post Holdings swings to loss in fiscal Q4

Post Holdings Inc. said its normalized net income for the fiscal fourth quarter ended Sept. 30 came to a loss of 29 cents per share, compared with the S&P Capital IQ consensus estimate of 26 cents per share.

The per-share result swung to a loss from the prior-year profit of 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $18.5 million, compared with income of $1.5 million in the prior-year period.

The normalized profit margin declined to negative 0.6% from 0.1% in the year-earlier period.

Total revenue rose 25.6% on an annual basis to $1.31 billion from $1.04 billion, and total operating expenses climbed 24.6% year over year to $1.19 billion from $951.6 million.

Reported net income came to a loss of $76.6 million, or a loss of $1.21 per share, compared to a loss of $291.7 million, or a loss of $5.86 per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 47 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 60 cents.

EPS was a loss of $1.37 in the prior year.

Normalized net income was a loss of $26.8 million, compared with a loss of $54.4 million in the prior year.

Full-year total revenue increased 92.8% on an annual basis to $4.65 billion from $2.41 billion, and total operating expenses increased 89.2% on an annual basis to $4.31 billion from $2.28 billion.

The company said reported net income came to a loss of $132.1 million, or a loss of $2.33 per share, in the full year, compared with a loss of $358.5 million, or a loss of $9.03 per share, the prior year.