2024-01-29 09:00:00 ET
When I was a kid, I didn't need Fred Flintstone and Barney Rubble on TV commercials to convince me of what breakfast cereal to eat. I already knew I wanted a bowl of Fruity Pebbles filled to the brim. Of course, other cereals were in my regular breakfast rotation, including Honeycomb. And when Oreo O's came out in the late 1990s, it was like a dream come true: I could finally eat my favorite cookie in cereal form.
Fruity Pebbles, Honeycomb, and Oreo O's are all breakfast cereals from Post Holdings (NYSE: POST) . The company makes plenty of other cereals as well, including Grape-Nuts, Honey Bunches of Oats, and Golden Crisp. And these are just the cereals it has with its Post branding. Post also owns the Malt-O-Meal brand with more than 30 varieties of bagged breakfast cereals.
For this reason, I've always thought of Post as a breakfast cereal company. And to be sure, this is the biggest part of the business. The company's fiscal 2023 ended in September. And during that year, it generated $2.7 billion in sales of cereal, which was 39% of its total sales.
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Post Makes Some of My Favorite Breakfast Cereals Including Fruity Pebbles, Honeycomb, and Oreo O's. But 33% of the Business Revolves Around 1 Segment That Has Nothing to Do With Cereal.