Vending

Hostess Brands lifts Q2 2022 results, beats expectations

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August 4, 2022

Hostess Brands Inc. lifted its Q2 2022 sales and earnings against the prior year period, driven by higher prices and favorable product mix, according to an earnings report. Highlights include:

• Net revenue rose 16.8% from $291.5 million in Q2 2021 to $340.47 million in Q2 2022 as higher prices and favorable product mix accounted for 13.8% of the quarterly growth, with remaining growth attributed to higher volumes.
• Net income rose from $29.8 million to $30.5 million in the comparative quarters.
• Basic EPS dipped from 23 cents to 22 cents, while diluted EPS rose from 21 cents to 22 cents.
• Adjusted EPS was 22 cents, decreasing modestly from the prior year period.

Shares traded at $21.97 today against a 52-week range of $15.20-$24.27.

The $340.47 in quarterly revenue beat analyst expectations by $12.1 million while the non-GAAP EPS of 22 cents beat expectations by 1 cent, according to Seeking Alpha.