Since the restructuring of the operating segments of Post Holdings it is no longer possible to evaluate the performance of Michael Foods including other egg-processing facilities and acquisitions. All egg-related activities were divided between the Food Service and Refrigerated Retail segments.
The August 1st Q3 report contained the following data relating indirectly to the egg-production and processing activities:-
Food Service-comprising egg and potato products.
“For the third quarter, net sales were $589.1 million, a decrease of 5.4%, or $33.6 million, compared to the prior year period. Volumes increased 1.5%, reflecting increases due to distribution gains in both eggs and potatoes. Segment profit was $89.6 million, a decrease of 16.8%, or $18.1 million, compared to the prior year period. Segment Adjusted EBITDA was $120.4 million, a decrease of 16.7%, or $24.1 million, compared to the prior year period.”
Egg-related investment included expansion of the Norwalk, IA. precooked egg facility and the start of the Phase II expansion of the Bloomfield, Nebraska cage-free egg facility, will incur expenditure of $100-$110 million.
Refrigerated Retail-comprising side dish, egg, cheese and sausage products.
“For the third quarter, net sales were $214.4 million, a decrease of 7.1%, or $16.3 million, compared to the prior year period. Volumes decreased 0.5%, as growth in side dishes was offset by distribution losses in lower margin egg products. Volume information by product is disclosed in a table presented later in this release. Segment profit was $5.1 million, a decrease of 71.7%, or $12.9 million, compared to the prior year period. Segment Adjusted EBITDA was $23.3 million, a decrease of 37.2%, or $13.8 million, compared to the prior year period”.