POST – Market expectations are for POST to see Uniform ROA decline, but management is confident about their Refrigerated Retail segment and marketing efforts

• Post Holdings, Inc. (POST:USA) is currently trading near corporate averages relative to UAFRS-based (Uniform) Earnings, with a 21.1x Uniform P/E. At these levels, markets are pricing in bearish expectations for the firm. However, management is confident about their opportunities in the Refrigerated Retail segment and the value of their marketing efforts
• Specifically, management is confident their Refrigerated Retail segment continues to see margin expansion opportunities through manufacturing network optimization, and they are confident about the value of their marketing spend in their Active Nutrition business.