On August 8th, Post Holdings Inc. (POST) reported on the third quarter of FY 2020 ending June 30th.  The Company reported a net profit of $36 million on sales of $1,336 million with an EPS of $0.52.  Comparative values for Q3 of FY 2019 were net earnings of $16.4 million on sales of $1,439 million with an EPS of $0.21.

Post Holdings operates Michael Foods producing shell eggs, egg liquid and derived products.  The Refrigerated Retail Segment includes cheese, sausage products, eggs and side dishes. For the quarter, net sales for the segment amounted to $250.3 million, an increase of 20.9 percent over Q3 of FY 2019 with volume increased by 5.1 percent associated with at-home consumption.  Net egg product sales value decreased 13.8 percent due to an 18.8 percent decline in volume attributed in part to closures of delicatessen counters.  The Refrigerated Retail Segment generated a profit of $42.3 million up 167 percent from Q3 2019.

The Food Service Segment comprising egg and potato products recorded sales of $242 million, down in value by 41.3 percent from Q3 2019.  Volume decreased by 41.8 percent with egg related products showing a 39.3 decline. This reflected the profound contraction of the food service sector including full-service restaurants, QSRs, education and lodging.  The Segment lost $40.3 million compared to a profit of $98.8 million in Q3 of 2019.