Avian influenza found at Michael Foods egg-laying flock in Iowa, which houses 4.5 million hens, or about 12% of Post's controlled supply.
December 9, 2024
Post Holdings Inc., a consumer packaged goods holding company, provided information regarding an avian influenza incident at one of Michael Foods' third-party contracted egg-laying facilities. Post also affirmed its non-GAAP adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) guidance for fiscal year 2025.
A Michael Foods third-party contracted egg-laying flock in Iowa tested positive for avian influenza, the Post Holdings statement noted. The facility houses approximately 4.5 million egg-laying hens, or approximately 12% of Post's controlled supply, inclusive of owned and third-party contracted farms.
Post management affirmed the outlook for fiscal year 2025 adjusted EBITDA of $1.41-1.46 billion, as company management believes the related financial impact is within the tolerances of the range. The guidance range does not incorporate a significant expansion of avian influenza within Post's network, the impact of which is uncertain, the statement said.
The U.S. Department of Agriculture’s Animal & Plant Health Inspection Service and individual states track and report individual incidents of avian influenza. Post said it does not expect to provide additional updates on specific incidents unless the cumulative effect of subsequent incidents exceeds an additional 5% of the company’s controlled supply.
Post Holdings, headquartered in St. Louis, Mo., is a consumer packaged goods holding company that holds a group of food businesses and operates as a public company in a manner similar to a private equity firm. Post’s businesses operate in the center-of-the-store, refrigerated, foodservice and food ingredient categories.
Its businesses include Post Consumer Brands, Weetabix, Michael Foods and Bob Evans Farms. Michael Foods and Bob Evans Farms are leaders in refrigerated foods, delivering value-added egg and refrigerated potato side dish products to the foodservice and retail channels. Post Consumer Brands is a leader in the North American ready-to-eat cereal and pet food categories and also markets Peter Pan peanut butter. Weetabix is the U.K.’s top-selling ready-to-eat cereal brand.
You May Also Like
Enter a zip code to see the weather conditions for a different location.
