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Shares of Post Holdings Inc (NYSE:POST) ended Friday session in green amid volatile trading. The shares closed up +0.11 points or 0.14% at $79.96 with 592,713 shares getting traded. Post opening the session at $79.93, the shares hit an intraday low of $79.27 and an intraday high of $80.21 and the price vacillated in this range throughout the day. The company has a market cap of $5.18 billion and the numbers of outstanding shares have been calculated to be 64.65 million shares.

Post Holdings Inc (POST) announced it has agreed to acquire National Pasteurized Eggs, Inc. (“NPE”).

NPE is a producer of pasteurized shell eggs, including all-natural, cage-free and hard boiled eggs. Its patented in-shell pasteurization process allows for commercial-scale production of pasteurized eggs. NPE operates three egg production facilities located in Illinois, Iowa and South Dakota and distributes its products nationwide, serving the foodservice, retail and international channels. Upon completion of the acquisition, NPE will be combined with Post’s existing Michael Foods egg business.

“This transaction continues our effort at building upon Michael Foods’ best-in-class egg foodservice business,” said Rob Vitale, Post’s President and CEO.

Shares of Adecoagro SA (NYSE:AGRO) ended Friday session in green amid volatile trading. The shares closed up +0.10 points or 0.88% at $11.50 with 233,398 shares getting traded. Post opening the session at $11.45, the shares hit an intraday low of $11.35 and an intraday high of $11.54 and the price vacillated in this range throughout the day. The company has a market cap of $1.41 billion and the numbers of outstanding shares have been calculated to be 121.58 million shares.

Adecoagro SA (AGRO) announced its results for the first quarter of 2016.

Main highlights for the period:

  • Adecoagro recorded Adjusted EBITDA of $51.2 million in 2Q16, marking a 7.6% increase compared to 2Q15.
  • Adjusted EBITDA margin during 2Q16 reached 31.1% in 2Q16, compared to 28.9% in 2Q15.
  • Adjusted EBITDA year-to-date stands at $94.4 million, 39.2% higher year-over-year.

Financial & Operational Highlights

  • Adjusted EBITDA for our Farming and Land Transformation businesses’ in 2Q16 was $5.1 million, 84.9%  higher than in 2Q15. The increase is primarily explained by a $24.1 million increase in margins, mostly stemming from our Crops segment as a result of: (i) higher realized corn and soybean prices driven by the elimination/reduction of export taxes and export quotas and the recent rebound in international markets; (ii) coupled with lower production costs in US dollars resulting from the devaluation of the Argentine peso and lower input prices for seeds, fertilizers and agrochemicals.

Results were partially offset by a $21.0 million loss generated by the mark-to-market of our commodity hedge positions, of which $8.7 million or 41.5% is related to the current crop and $12.3 million or 58.5% is related to the new crop. The hedging losses related to the current crop are offset by the higher fair value of biological assets and the mark-to-market of grain inventories. Hedging losses related to next year’s crop are offset the following fiscal year as the crop is planted and harvested.

 

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