Post expects sales rose at least 4 pct in 3Q

Cereal maker Post expects 3rd-qtr sales rose at least 4 percent, helped by Hearthside deal

Associated Press

ST. LOUIS (AP) -- Cereal maker Post Holdings Inc. on Thursday said it expects sales in its fiscal third quarter rose 4 to 7 percent from a year ago, helped by a recent acquisition.

The St. Louis company predicts revenue of $252 million to $258 million for the quarter that ran through June, up from $241.9 million in the same months a year ago.

Analysts, on average, expect $256.7 million in sales for the quarter, according to FactSet.

The company's estimate includes $8 million in sales from its May 28 acquisition of the cereal, granola and snacks business of Hearthside Food Solutions.

It's expected to report full third-quarter results in early August.

Post also said Thursday that it plans to sell $300 million of debt due 2022 in a private offering. It said it could use the proceeds for more acquisitions.

Shares of St. Louis-based posted rose 18 cents to $45.52 in morning trading. 

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