2024-02-05 23:22:28 ET
Summary
- 1Q 2024: revenue growth driven by pet food acquisitions. Margins recovery helped by moderating input cost inflation and better-than-expected pet food margin realization.
- Relatively high debt levels may constrain the ability to fund acquisition-driven growth.
- Pet food business likely to support growth.
- Productivity initiatives and cost synergies from pet food acquisition could support margin expansion.
- The valuation appears fair.
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Post Holdings: Stable Prospects, Fair Valuation