Hostess Brands, Inc. Announces Second Quarter 2019 Financial Results
Hostess Brands, Inc. - Class A (TWNK)
Last hostess brands, inc. - class a earnings: 2/26 04:05 pm
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Source: Business Wire
Reports Record Net Revenue Quarter and Strong Gross Profit Growth KANSAS CITY, Mo.--(BUSINESS WIRE)--Hostess Brands, Inc. (NASDAQ: TWNK) (NASDAQ: TWNKW) (the “Company”), today reported its financial results for the three and six months ended June 30, 2019.Business Highlights for the Second Quarter 2019 as Compared to the Prior Year PeriodNet revenue increased $25.2 million, or 11.7%, to $241.1 million due to higher volume of both core and new Hostess® branded products driven by distribution and merchandising support as well as realization of price increases.Total Company point of sale in tracked channels increased 6.3% and market share of 19.0% was up 81 basis points.Gross profit increased $16.6 million, or 24.8%, to $83.5 million due to higher sales volume and pricing actions as well as continued operating efficiencies.Net income was $16.7 million, compared to $24.6 million, or diluted earnings per share of $0.10 per share. The decline was primarily due to discrete income tax adju
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