Hostess Brands Inc (NASDAQ:TWNK) climbed Thursday after reporting fourth-quarter results that beat the estimates of Wall Street analysts.
The maker of Twinkies, Ding Dongs and Ho Hos posted late Wednesday adjusted earnings per share of $0.17 on net revenue of $214.8 million, up 9.5% from a year earlier. The average estimate of analysts was for earnings per share of $0.15 on revenue of $210.95 million.
Shares climbed 8.5% to $12.38 in Thursday's Nasdaq trading.
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Net revenue, according to the company, got a $20 million boost from the recently acquired Cloverhill bakery business.
“We are pleased with our solid finish to the year,” Hostess CEO Andy Callahan said in a statement. “The team executed on our plan to advance our business in a dynamic operating environment. Our achievements have created a strong foundation for Hostess to build on in the future.”
The Kansas City, Missouri, company said it expects continued revenue growth driven by Hostess-branded breakfast and other core products as well as expanded distribution and improved merchandising execution.
Contact Dennis Fitzgerald at dennis@proactiveinvestors.com