| Schedule of Segment Reporting Information |
The following tables set forth financial information about each of the Company’s reportable segments. Information about total assets by segment is not disclosed because such information is not reported to or used by the Company’s CODM for purposes of assessing segment performance or allocating resources. Transactions between reportable segments were insignificant for all periods presented.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December 31, |
|
|
Six Months Ended December 31, |
|
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
Net Sales: |
|
|
|
|
|
|
|
|
|
|
|
|
North America |
|
$ |
229,289 |
|
|
$ |
267,671 |
|
|
$ |
460,429 |
|
|
$ |
527,725 |
|
International |
|
|
182,196 |
|
|
|
186,429 |
|
|
|
345,652 |
|
|
|
351,404 |
|
|
|
$ |
411,485 |
|
|
$ |
454,100 |
|
|
$ |
806,081 |
|
|
$ |
879,129 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA: |
|
|
|
|
|
|
|
|
|
|
|
|
North America |
|
$ |
25,307 |
|
|
$ |
31,218 |
|
|
$ |
37,766 |
|
|
$ |
49,945 |
|
International |
|
|
22,526 |
|
|
|
25,969 |
|
|
|
42,896 |
|
|
|
43,407 |
|
Total Reportable Segments Adjusted EBITDA |
|
|
47,833 |
|
|
|
57,187 |
|
|
|
80,662 |
|
|
|
93,352 |
|
Corporate and Other |
|
|
(9,940 |
) |
|
|
(10,061 |
) |
|
|
(20,394 |
) |
|
|
(22,136 |
) |
|
|
|
37,893 |
|
|
|
47,126 |
|
|
|
60,268 |
|
|
|
71,216 |
|
Depreciation and amortization |
|
|
(11,020 |
) |
|
|
(11,197 |
) |
|
|
(22,447 |
) |
|
|
(23,502 |
) |
Equity in net loss of equity-method investees |
|
|
(588 |
) |
|
|
(907 |
) |
|
|
(743 |
) |
|
|
(1,405 |
) |
Interest expense, net |
|
|
(11,993 |
) |
|
|
(15,333 |
) |
|
|
(24,988 |
) |
|
|
(27,956 |
) |
(Provision) benefit for income taxes |
|
|
(2,728 |
) |
|
|
4,249 |
|
|
|
(6,251 |
) |
|
|
9,628 |
|
Stock-based compensation, net |
|
|
(3,573 |
) |
|
|
(3,376 |
) |
|
|
(6,449 |
) |
|
|
(7,118 |
) |
Unrealized currency gains |
|
|
1,624 |
|
|
|
194 |
|
|
|
430 |
|
|
|
159 |
|
Certain litigation expenses, net(a) |
|
|
(1,020 |
) |
|
|
(2,091 |
) |
|
|
(1,847 |
) |
|
|
(3,615 |
) |
Restructuring activities |
|
|
|
|
|
|
|
|
|
|
|
|
Productivity and transformation costs |
|
|
(4,190 |
) |
|
|
(6,869 |
) |
|
|
(9,208 |
) |
|
|
(13,272 |
) |
Plant closure related costs, net |
|
|
(858 |
) |
|
|
(2,302 |
) |
|
|
(1,234 |
) |
|
|
(4,143 |
) |
Warehouse/manufacturing consolidation and other costs, net |
|
|
— |
|
|
|
(811 |
) |
|
|
— |
|
|
|
(811 |
) |
Acquisitions, divestitures and other |
|
|
|
|
|
|
|
|
|
|
|
|
Gain (loss) on sale of assets |
|
|
1,626 |
|
|
|
— |
|
|
|
(2,308 |
) |
|
|
(62 |
) |
Transaction and integration costs, net |
|
|
105 |
|
|
|
(109 |
) |
|
|
423 |
|
|
|
(227 |
) |
Impairment charges |
|
|
|
|
|
|
|
|
|
|
|
|
Goodwill impairment |
|
|
(91,267 |
) |
|
|
— |
|
|
|
(91,267 |
) |
|
|
— |
|
Intangibles and long-lived asset impairment |
|
|
(17,986 |
) |
|
|
(20,666 |
) |
|
|
(18,017 |
) |
|
|
(21,360 |
) |
Other |
|
|
— |
|
|
|
(1,443 |
) |
|
|
— |
|
|
|
(1,443 |
) |
Net loss |
|
$ |
(103,975 |
) |
|
$ |
(13,535 |
) |
|
$ |
(123,638 |
) |
|
$ |
(23,911 |
) |
(a)Expenses and items relating to securities class action, baby food litigation and SEC investigation.
|
| Schedule of Net Sales by Product Category |
The Company’s net sales by product category are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December 31, |
|
|
Six Months Ended December 31, |
|
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
Snacks |
|
$ |
89,707 |
|
|
$ |
113,873 |
|
|
$ |
189,182 |
|
|
$ |
230,961 |
|
Baby & Kids |
|
|
61,561 |
|
|
|
61,613 |
|
|
|
122,329 |
|
|
|
124,141 |
|
Beverages |
|
|
69,814 |
|
|
|
72,584 |
|
|
|
126,490 |
|
|
|
128,732 |
|
Meal preparation |
|
|
177,653 |
|
|
|
182,133 |
|
|
|
337,045 |
|
|
|
347,329 |
|
Personal care |
|
|
12,750 |
|
|
|
23,897 |
|
|
|
31,035 |
|
|
|
47,966 |
|
|
|
$ |
411,485 |
|
|
$ |
454,100 |
|
|
$ |
806,081 |
|
|
$ |
879,129 |
|
|
| Schedule of Net Sales by Geographic Region |
The Company’s net sales by geographic region, which are generally based on the location of the Company’s subsidiaries, are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December 31, |
|
|
Six Months Ended December 31, |
|
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
United States |
|
$ |
203,325 |
|
|
$ |
239,324 |
|
|
$ |
406,098 |
|
|
$ |
469,983 |
|
United Kingdom |
|
|
134,953 |
|
|
|
138,628 |
|
|
|
257,359 |
|
|
|
259,679 |
|
Western Europe |
|
|
47,243 |
|
|
|
47,801 |
|
|
|
88,293 |
|
|
|
91,725 |
|
Canada |
|
|
25,964 |
|
|
|
28,347 |
|
|
|
54,331 |
|
|
|
57,742 |
|
|
|
$ |
411,485 |
|
|
$ |
454,100 |
|
|
$ |
806,081 |
|
|
$ |
879,129 |
|
|