Post Holdings, Inc. (NYSE:POST) Q3 2022 Earnings Conference Call August 5, 2022 9:00 AM ET
Company Participants
Matt Mainer - Investor Relations
Rob Vitale - President and Chief Executive Officer
Jeff Zadoks - Chief Financial Officer
Conference Call Participants
Andrew Lazar - Barclays
Chris Growe - Stifel
David Palmer - Evercore ISI
Jason English - Goldman Sachs
Operator
Welcome to Post Holdings’ Third Quarter 2022 Earnings Conference Call and Webcast. Hosting the call today from Post are Rob Vitale, President and Chief Executive Officer; and Jeff Zadoks, Chief Financial Officer. Today’s call is being recorded and will be available for replay beginning at 12:00 o’clock p.m. Eastern Time. The dial-in number is 800-839-5679. No pass code is required. [Operator Instructions] It is now my pleasure to turn the floor over to Matt Mainer, Investor Relations of Post Holdings, for introductions. Sir, you may begin.
Matt Mainer
Thanks. Good morning and thank you for joining us today for Post’s Third Quarter Fiscal ‘22 Earnings Call. With me today are Rob Vitale, our President and CEO; and Jeff Zadoks, our CFO. Rob and Jeff will begin with prepared remarks. And afterwards, we will have a brief question-and-answer session. Press release that supports these remarks is posted on our website in both the Investor Relations and the SEC filings sections at postholdings.com. In addition, the release is available on the SEC’s website.
Before we continue, I’d like to remind you that this call will contain forward-looking statements, which are subject to risks and uncertainties that should be carefully considered by investors as actual results could differ materially from these statements. These forward-looking statements are current as of the date of this call and management undertakes no obligation to update these statements. As a reminder, this call is being recorded and an audio replay will be available on our website. And finally, this call will discuss certain non-GAAP measures. For a reconciliation of these non-GAAP measures to the nearest GAAP measure, see our press release issued yesterday and posted on our website.
With that, I will turn the call over to Rob.
Rob Vitale
Thank you, Matt and thank you all for joining us. Post had a successful quarter. We are building momentum for the final quarter of the year and into next year. This is despite some lingering problems in our supply chains as well as historical levels of inflation.
I am going to begin with some comments about margins. First, we have largely managed to offset the impact of inflation with pricing. Input costs remain volatile and we anticipate additional inflation and additional pricing. We are confident in our ability to deliver the needed pricing. Percentage margins declined year-over-year primarily resulting from the mechanics of our grain-based pricing model in foodservice as well as a mix shift in our overall business portfolio.