Hostess Brands recently announced its second quarter 2023 results, noting that sustainable growth is still very much in sights.
“Hostess Brands delivered another strong quarter with double-digit profit growth and higher margins driven by favorable net price realization, normalizing supply chain, and contributions from productivity initiatives. Our foundation for sustainable growth remains strong. We are executing well against our growth initiatives with strong customer support behind back-to-school merchandising, leading innovation in the category, and increased investment in our brands, which provide confidence in our ability to generate stronger sales growth in the second half of 2023,” said Andy Callahan, President and Chief Executive Officer, Hostess Brands.
Highlights from the quarter results included:
“We believe we continue to be well-positioned for attractive shareholder returns as we build a premier, pure-play snacking company,” added Callahan. “Given our strong first-half performance, we are raising our full-year adjusted EBITDA and adjusted EPS guidance toward the higher end of our previous range, delivering above long-term algorithm profit growth in 2023.”
To see the report in its entirety, click here.
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