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.
- Investment & Company Information