Sales issues, hurricanes pressure Hostess results in third quarter

摘要

Despite reassurances from Hostess Brands' top executives that third-quarter earnings and sales were largely in line with company expectations, the share price at the Kansas City-based baker fell to a 52-week low of $11 per share on Nov. 8.Hostess Brands, Inc. net income in the third quarter ended Sept. 30 was $9,549,000, equal to 10c per share on the common stock, compared with $31,184,000 of income for the predecessor company in the third quarter of 2016. Sales were $192,250,000, down 2.1% from $196,197,000 in third-quarter sales last year. The predecessor figures refer to results of Hostess Holdings L.P. before its November 2016 acquisition byGores Holdings, Inc. (the combined business was subsequently renamed Hostess Brands, Inc.).