Hostess Brands, Inc. Announces Third 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
Net Revenue Increases 7.7% to $227.2 Million, Driven by 8.8% Point of Sale GainMarket Share Continues Growth, Up 118 Basis Points to 19.2% KANSAS CITY, Mo.--(BUSINESS WIRE)--Hostess Brands, Inc. (NASDAQ: TWNK) (NASDAQ: TWNKW) (the “Company”), today reported its financial results for the three and nine months ended September 30, 2019.Business Highlights for the Third Quarter 2019 as Compared to the Prior Year Period1Net revenue increased $16.2 million, or 7.7%, to $227.2 million due to higher volume of core Hostess® branded products and breakfast innovation driven by distribution and merchandising support, as well as the previously announced price increases, partially offset by the sale of the In-Store Bakery ("ISB") business on August 30, 2019. Excluding ISB, net revenue increased 9.2%.Gross profit increased $10.0 million, or 16.6%, to $70.4 million due to higher sales volume and pricing actions as well as continued operating efficiencies. Adjusted gross profit increased $11.1 mill
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