Hostess Brands, Inc. to Reschedule Third Quarter 2021 Earnings Release; Updates 2021 Guidance
November 02 2021 - 7:30AM
Business Wire
Hostess Brands, Inc. (Nasdaq: TWNK, TWNKW) (the “Company”), a
leading sweet snacks company, announced today that it will
reschedule its 2021 third quarter earnings release and conference
call, previously scheduled for November 3, 2021, to Tuesday,
November 9, 2021 after market close. The earnings release will be
issued at approximately 4:00 p.m. Eastern Time (3:00 p.m. Central
Time) accompanied by a presentation.
The Company will host a conference call to discuss these results
at 4:30 p.m. Eastern Time (3:30 p.m. Central Time). Investors
interested in participating in the live call can dial 800-430-8332
from the U.S. and 856-344-9206 internationally. A telephone replay
will be available approximately two hours after the call concludes
through Tuesday, November 23, 2021, by dialing 844-512-2921 from
the U.S., or 412-317-6671 from international locations, and
entering confirmation code 3009366.
Guidance and Outlook
The Company expects third quarter 2021 results to be in line
with internal expectations, enabling it to update and confirm full
year 2021 guidance as follows:
Updated Guidance
Previous Guidance
Adjusted net revenue growth
9.0% - 10.0%
7.5% - 9.0%
Adjusted EBITDA
$260 - $268 million
$260 - $268 million
Adjusted EPS (diluted)
$0.83 - $0.87*
$0.83 - $0.87*
Leverage ratio
~3x
~3x
Capital expenditures
$60 - $65 million
$60 - $65 million
Effective tax rate
27.5%
27.5%
*Based on weighted average shares
outstanding of 139 million.
The Company provides guidance only on a non-generally accepted
accounting principles (non-GAAP) basis and does not provide a
reconciliation of the Company's forward-looking financial
expectations to the most directly comparable GAAP financial measure
because of the inherent difficulty in forecasting and quantifying
certain amounts that are necessary for such reconciliation,
including adjustments that could be made for deferred taxes,
remeasurement of the Tax Receivable Agreement, transformation
expenses and other non-operating gains or losses reflected in the
Company's reconciliation of historic non-GAAP financial measures,
the amount of which could be material. Please refer to the
Reconciliation of Non-GAAP Financial Measures included in the
Company’s quarterly earnings press releases for further information
about the use of these measures.
About Hostess Brands, Inc.
Hostess Brands, Inc. is a leading sweet snacks company focused
on developing, manufacturing, marketing, selling and distributing
products in North America under the Hostess® and Voortman® brands.
The Company produces a variety of new and classic treats including
iconic Hostess® Donettes®, Twinkies®, CupCakes, Ding Dongs® and
Zingers®, as well as a variety of Voortman® cookies and wafers. For
more information about Hostess Brands, Inc., please visit
www.hostessbrands.com.
Forward-Looking Statements
This press release contains statements reflecting the Company's
views about its future performance that constitute “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, that involve substantial risks and
uncertainties. Forward-looking statements are generally identified
through the inclusion of words such as “believes,” “expects,”
“intends,” “estimates,” “projects,” “anticipates,” “will,” “plan,”
“may,” “should,” or similar language. Statements addressing the
Company's future operating performance and statements addressing
events and developments that the Company expects or anticipates
will occur are also considered as forward-looking statements. All
forward-looking statements included herein are made only as of the
date hereof. The Company undertakes no obligation to update any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
These statements inherently involve risks and uncertainties that
could cause actual results to differ materially from those
anticipated in such forward-looking statements. These risks and
uncertainties include, but are not limited to, maintaining,
extending and expanding the Company’s reputation and brand image;
protecting intellectual property rights; leveraging the Company’s
brand value to compete against lower-priced alternative brands;
correctly predicting, identifying and interpreting changes in
consumer preferences and demand and offering new products to meet
those changes; operating in a highly competitive industry; the
continued ability to produce and successfully market products with
extended shelf life; the ability to pass cost increases on to our
customers; the ability to maintain or add additional shelf or
retail space for the Company’s products; our ability to identify or
complete strategic acquisitions, alliances, divestitures or joint
ventures; our ability to successfully integrate, achieve expected
synergies and manage our acquired businesses and brands; the
ability to drive revenue growth in key products or add products
that are faster-growing and more profitable; adverse impact or
disruption to our business caused by COVID-19 or future outbreaks
of highly infectious or contagious diseases; volatility in
commodity, energy, and other input prices and the ability to adjust
pricing to cover increased costs; significant changes in the
availability and pricing of transportation; dependence on major
customers; increased labor and employee related costs; strikes or
work stoppages; product liability claims, product recalls, or
regulatory enforcement actions; dependence on third parties for
significant services; unanticipated business disruptions;
geographic focus could make the Company particularly vulnerable to
economic and other events and trends in North America;
consolidation of retail customers; unsuccessful implementation of
business strategies to reduce costs; increased costs to comply with
governmental regulation; failures, unavailability, or disruptions
of the Company’s information technology systems; dependence on key
personnel or a highly skilled and diverse workforce; the Company’s
ability to finance indebtedness on terms favorable to the Company;
and other risks as set forth from time to time in the Company’s
Securities and Exchange Commission filings.
As a result of a number of known and unknown risks and
uncertainties, the Company's actual results or performance may be
materially different from those expressed or implied by these
forward-looking statements. Risks and uncertainties are identified
and discussed in Item 1A-Risk Factors in the Company's Annual
Report on Form 10-K/A for 2020. All subsequent written or oral
forward-looking statements attributable to us or persons acting on
the Company's behalf are expressly qualified in their entirety by
these risk factors. The Company undertakes no obligation to update
any forward-looking statement, whether as a result of new
information, future events, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20211102005468/en/
Investors, please contact: Amit Sharma 816-701-4662
asharma@hostessbrands.com
Media, please contact: Hannah Arnold and Marie Espinel
The LAKPR Group
harnold@lakpr.com and mespinel@lakpr.com
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