Hostess Brands, Inc. to Postpone Third Quarter 2021 Results Release; Updates to the 2021 guidelines

LENEXA, Kan., November 02, 2021– (BUSINESS WIRE) – Hostess Brands, Inc. (Nasdaq: TWNK, TWNKW) (the “Company”), a leading sweet snack company, today announced that it will reschedule the release of its third quarter results. quarter of 2021 and its conference call, previously scheduled from November 3, 2021 to Tuesday, November 9, 2021 after market close. The results release will be released at approximately 4:00 p.m. Eastern Time (3:00 p.m. Central Time) with a presentation.

The Company will host a conference call to discuss these results at 4:30 p.m. Eastern Time (3:30 p.m. Central Time). Investors interested in participating in the live call can dial 800-430-8332 from the United States and 856-344-9206 from the international. A telephone replay will be available approximately two hours after the call ends until Tuesday, November 23, 2021, by dialing 844-512-2921 from the United States, or 412-317-6671 from overseas, and by entering the confirmation code 3009366.

Orientation and outlook

The Company expects third quarter 2021 results to be in line with internal expectations, allowing it to update and confirm its guidance for the year 2021 as follows:

Updated guide

Previous guide

Growth in adjusted net sales

9.0% – 10.0%

7.5% – 9.0%

Adjusted EBITDA

$ 260 – $ 268 million

$ 260 – $ 268 million

Adjusted EPS (diluted)

$ 0.83 – $ 0.87 *

$ 0.83 – $ 0.87 *

Leverage ratio

~ 3x

~ 3x

Capital expenditure

$ 60 – $ 65 million

$ 60 – $ 65 million

Effective tax rate

27.5%

27.5%

* Based on a weighted average of shares outstanding of 139 million.

The Company provides guidance only on the basis of non-generally accepted accounting principles (non-GAAP) and does not provide a reconciliation of the Company’s forward-looking financial expectations with the most directly comparable GAAP financial measure due to the inherent difficulty. forecast and quantify certain amounts that are necessary for such a reconciliation, including any adjustments that might be made for deferred taxes, revaluation of the tax receivable arrangement, transformation expenses and other gains or losses outside operations reflected in the Company’s reconciliation of historical non-GAAP financial measures, the amount of which could be material. Please refer to the Reconciliation of Non-GAAP Financial Measures included in the Company’s quarterly earnings press releases for more information on the use of these measures.

About Hostess Brands, Inc.

Hostess Brands, Inc. is a leading sweet snack company focused on the development, manufacture, marketing, sale and distribution of products in North America under the Hostess® and Voortman® brands. The company produces a variety of new and classic treats, including the iconic Hostess® Donettes®, Twinkies®, CupCakes, Ding Dongs® and Zingers®, as well as a variety of Voortman® cookies and wafers. For more information about Hostess Brands, Inc., please visit www.hostessbrands.com.

Forward-looking statements

This press release contains statements reflecting the Company’s view on its future performance which constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. , which involve substantial risks and uncertainties. Forward-looking statements are generally identified by the inclusion of words such as “believes”, “expects”, “intention”, “estimates”, “plans”, “plans”, “will”, “will plan” “,” May “,” should “or similar language. Statements regarding the future operational performance of the Company and statements regarding events and developments that the Company expects or anticipates will occur are also considered to be forward-looking statements. All forward-looking statements included herein are made only as of the date hereof. The Company assumes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

These statements inherently involve risks and uncertainties which could cause actual results to differ materially from those anticipated in these forward-looking statements. These risks and uncertainties include, without limitation, the maintenance, extension and expansion of the reputation and brand image of the Company; protect intellectual property rights; leverage the Company’s brand value to compete with less expensive alternative brands; predict, identify and correctly interpret changes in consumer preferences and demand and propose new products to respond to these changes; operating in a highly competitive industry; the continued ability to successfully produce and market extended shelf life products; the ability to pass cost increases on to our customers; the ability to maintain or add additional shelves or retail space for the Company’s products; our ability to identify or complete strategic acquisitions, alliances, divestitures or joint ventures; our ability to successfully integrate, achieve expected synergies and manage our businesses and acquired brands; the ability to drive revenue growth from key products or add faster growing and more profitable products; the negative impact or disruption of our business caused by COVID-19 or future outbreaks of highly infectious or contagious diseases; volatility in the prices of raw materials, energy and other inputs and the ability to adjust prices to cover rising costs; significant changes in the availability and pricing of transport; dependence on large customers; increased costs related to labor and employees; strikes or work stoppages; product liability claims, product recalls or regulatory enforcement actions; dependence on third parties for important services; unplanned business interruptions; geographic concentration could make the Company particularly vulnerable to economic and other events and trends in North America; consolidation of retail customers; unsuccessful implementation of business strategies to reduce costs; increased costs to comply with government regulations; breakdowns, unavailability or disruption of the Company’s IT systems; dependence on key personnel or a highly skilled and diverse workforce; the Company’s ability to finance indebtedness on terms favorable to the Company; and other risks as set forth from time to time in documents filed with the Securities and Exchange Commission of the Company.

Due to a number of known and unknown risks and uncertainties, the actual results or performance of the Company may differ materially from those expressed or implied by these forward-looking statements. Risks and uncertainties are identified and discussed in Section 1A-Risk Factors of the Company’s Annual Report on Form 10-K / A for 2020. All subsequent written or oral forward-looking statements attributable to us or to persons acting in the Company name of the Company are expressly qualified in their entirety by these risk factors. The Company assumes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211102005468/en/

Contacts

Investors, please contact:
Amit Sharma
816-701-4662
asharma@hostessbrands.com

Media, please contact:
Hannah Arnold and Marie Espinel
LAKPR group
harnold@lakpr.com and mespinel@lakpr.com

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