Hostess Brands, Inc. recently reported its second quarter financial results, which included the following from the company:
- Net revenue increased $25.2 million, or 11.7 percent, to $241.1 million due to higher volume of both core and new Hostess products driven by distribution and merchandising support as well as price increases.
- Point of sale in tracked channels increased 6.3 percent and market share of 19.0 percent was up 81 basis points.
- Gross profit increased $16.6 million, or 24.8 percent, to $83.5 million due to higher sales volume and pricing actions, as well as continued operating efficiencies.
- The company expects continued organic revenue growth well above the Sweet Baked Goods category in 2019, driven by Hostess branded core and new products.
- The company expects full year 2019 adjusted EBITDA of $200 million to $210 million, an increase of seven to 13 percent over 2018, primarily driven by revenue growth and achievement of operational efficiencies.