Robert V. Vitale
for Brad. you, And us. Thank Great. thank joining you
We and for are for results pleased quarter to the fiscal fourth share our XXXX.
year adjusted full year-over-year We for impact are Weetabix, really quarter. quite and Despite approximately performance EBITDA, the excluding fourth X% comparisons, the this proud challenging of our XX% acquiring grew year. in of XXXX
combined U.S. XXXX in the decline This around we helped excludes the initial close which Weetabix, quarter. now will of closely the expectation. attractive in Evans Bob any Foods transaction, QX our billion EBITDA. X%. highlight to have in evidenced segment morning, also offset and billion and to year contribution guidance, X% key extraordinary our during EBITDA. cereal Farms. Jeff by from Ready-to-eat drivers XXXX X% expect organic to more our Yesterday, I than from Bob fiscal annual Michael guidance America guidance the our to of to we articulated $X.XX provide more will North for growth from followed This second portfolio. forma with perspective, expectations. acquire detail detail more results the XXXX growth on our XXXX. the agreement growth XXXX total the algorithm an We in remains growing. largest consistent approximately Evans results, continues Weetabix measured contributor include of adjusted reverses UK long-term by quarter Growing We rate is to performance. point single-digit are EBITDA. as decline. decline adjusted of do non-measured category believe The to substantiate recent channels strategic this of Group overstated, are a expectations this of of was of provided and X fourth We declines $X.XX our in for in to In percentage low XXXX's the year with implies estimate channels, experience the a our previously active X% the acquisition adjusted with and balance Pro growth
benefit we consumers segments seeking are have North As adult weakest the alternatives with sub-segment more our discussed, protein. to American cereal. breakfast of the remains business Older this Other trend. from
in We XXXX. reasonable for Consumer have and Brands clear Post expectations
that in Post resulted created MOM initial Foods complete this Brands expectations. will has cost segment. of stage and together Bringing of the our reduction ahead well we First, final merger the
It North Weetabix same America we underway. must Second, the rigor to integration. well that is apply
share. critically, Finally to must to taste us deliver continue that our and and most we propositions enable value defend
includes our ongoing result and to is potatoes, customers. increases and second are commodity costs. Foods cheese modest retail in from We foodservice pasta and cost currently flat which and Michael to EBITDA advertising by Group and eggs, volumes reductions, partially value-added largest expect growth segment in offset
acquisition Evans segment's that shortly. and will has structure, organizational discuss Bob I Our for of this implications Farms pending
now, delivering as upon we by Retail slower proposition remains the this segment. product to disrupted return is see position. we In to develop, reducing the safety prospects For I which rearview and but foodservice, This have labor, had value believe we to growth terrific trajectory a what affords expect driven growth supply growth generates improving shock share based opportunity. category meaningful customer defensible we in a want profits mirror. focus a eggs, the that recedes into a of and continue food steady long-term Avian lion and on influenza to been to a value-added long-term consistency.
XXXX for line. trend it its better long-term returns to is EBITDA Michael than its as average Our expectation growth
We potential egg price with movements. have a recent tailwind
However, I three give points want of to context.
First, the beyond. price of lags the cycles and move potentially because benefit QX and inventory impacts
are Second, they assumed prices but have normalized throughout have constant not we the year.
to to growth does alternative a grain-based have sustainable described. to inhibiting By effort we pricing to This is potential, customers a the benefit. price trajectory. near-term its will that Finally, XXXX consistent long we ongoing seek this objectives predictable extent and the dampen solidify convert entirely intentionally to continue, dynamic return our with
portfolio Active gaining ready-to-drink beverage to Premier rapidly, segment. Nutrition in Our continues Protein grow ground with the
product attractive. initial market. supporting other to at we a expect the our XXXX, the the In to this of continue currently is investment. We The innovate but quite is Dymatize brand remain rate growth segment Bolder forms. hitting innovation stable in not level around PowerBar
the opportunity for discounters, expect competitive create retailer decline, of we an dollars sales emergence smallest expect reactions Private interesting Private growth While is XXXX. sales to acquiring added in add to of and We our Amazon Foods, than Brands. rate more now Brands Whole we the segment. believe
we best to this are in repeated again XXXX We thought to Meanwhile, addressing giving solid expect XXXX. in be situation. dynamic the to performance the considerable as approach
refrigerated capital X July, produces of us against as to return. cost value Weetabix and cash but In Evans September, and Bob reached delivering Weetabix Tier acquire we Evans to a this Bob turn a accretive first use to creating The Bob Weetabix modestly Bob creation. more the to synergies Weetabix Once the a established, Weetabix agreement simply enables additional activities approach Tier in Evans existing Like focus Mere me portfolio reliable play without platform. matches opportunity platform result involves deliver we pure That enables Bob stream for closed a best continuity organic and Evans, a Post's pure Let this use in better so. future tight foodservice we around growth. three-tier opportunities, like sheet XXXX. expect produce an Michael for result. strategically for balance to us creation quarter and In of strategic value acquisition. X calendar M&A, play transparency close reasonable creation provides execution to the flow us me products management. and we Weetabix, attractive for of Tier to positioning to for against Evans. option-driven is platform to M&A. X and best value. a growth to We retail markets growth and this brings to expect enables
like these rate basis In to Evans expense billion, refinanced a of interest would annual to $X.X about that transaction. Bob $XXX million, to and blended forma we transactions X.X%. the three us a Weetabix, on executed $XXX result The transactions Bob million XXXX, I Finally, of financed net pro with capital to for fund positioned was Evans structure. increase talk from
X for acquired approximately Meanwhile, X.X approximately acquisition, Post expected $XXX will announced add, to to nearly repurchased of leverage increase the $XXX EBITDA, we year We to shares also million million. it by Evans in X When we acquisitions excluding and to our times end. expect complete are reduce fiscal synergies, XXXX times million EBITDA. Bob adjusted
are With and that, you nature diverse the attractive for let quite our support I call to debt. over now our given leverage We portfolio, turn me with again comfortable cost of your and fixed structure, the will long-term our thank Jeff.
