Corporate Profiles - 2021 - 82

COMPANY OVERVIEW
Hostess Brands, Inc.
'Breadth of availability,' innovation serve company well during pandemic
key advantage for Hostess Brands, Inc.
over the past 18 months is also a pretty
basic one: availability.
" One of the advantages that we have is the
breadth of our availability to consumers to find
us, " Andrew P. Callahan, president and chief executive
officer of Hostess Brands, said during a
June 15 presentation at the virtual Evercore ISI
Consumer and Retail Summit.
Mr. Callahan said Hostess' ability to compete
in occasions that are naturally growing - such
as snacking, morning sweet snacks and afternoon
snacking - as well as in the on-the-go
and food-at-home categories, is helping drive
growth.
" When the pandemic hit and there was that
disruption to consumers' lives, that breadth of
availability really served us well, but we didn't
walk away from some of the areas that consumers
had to put on hiatus because we knew
that was important for us sustainably, " he said.
Hostess also benefited from a robust new
product pipeline that includes new breakfast
offerings such as recently launched Baby Bundt
cakes. Baby Bundts Lemon and Baby Bundts
Cinnamon were the No. 1 and No. 4 fastestgrowing
stock-keeping units in the category,
respectively, across total Nielsen Universe over
A
the four weeks ended July 17, Mr. Callahan
said.
Other recent launches include Cr!spy Minis,
Muff'n Stix and Pecan Spins.
" We will also be launching a number of other
new products, including On-The-Go versions of
Cr!spy Minis in the coming months, " Mr. Callahan
said.
Availability and innovation prompted the
company to raise its outlook for the fiscal year.
Executives at the Kansas City-based company
now expect adjusted net revenue growth
of 7.5% to 9%, up from a previous guidance of
3% to 4.5%, and earnings per share of 83¢ to
87¢, compared with 80¢ to 85¢ in the previous
outlook.
Net income at Hostess in the second quarter
ended June 30, 2021, was $32.2 million,
equal to 23¢ per share on the common stock,
up 10% from $29.2 million, or 22¢ per share,
in the same period a year ago. On a two-year
basis, net income was up 25%. Sales increased
nearly 11% to $291.5 million from $265.4 million
a year ago and 12% from $256.2 million
two years ago. Hostess gained market share in
both the convenience and grocery channels in
the quarter, Mr. Callahan said.
Hostess has made several key personnel
changes over the past six months. In May, Dan
O'Leary joined the company as chief growth
officer, a newly created position at Hostess. In
this role, he will be responsible for the general
management of the Hostess and Voortman
brands, managing profit and loss, and overseeing
the company's marketing, R&D and strategy
organizations. He joined the company from
Tyson Foods, Inc., where he spent more than
two years as group general manager of Tyson's
Prepared Retail segment.
A month later, Amit Sharma joined the company
as vice president of investor relations. He
previously was the executive director of food
and foodservice at Rabobank.
Also in June, Hostess said goodbye to Andrew
W. Jacobs, executive vice president, chief operating
officer and chief commercial officer, who resigned
to become CEO of Turkey Hill LLC, a manufacturer
and distributor of branded ice cream,
frozen novelties and refrigerated drinks. CP
Chief executive officer -
Andrew P. Callahan
Hostess Brands net income
Hostess Brands net revenue
Hostess Brands share price
per share
$161
$19
$108
$850
$908
$1,017
$11
$13
$15
$17
$19
2018
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82 \ October 2021
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Corporate Profiles - 2021

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