| Schedule of Segment Reporting Information |
The following tables set forth financial information about each of the Company’s reportable segment’s revenue, significant segment expenses and measure of segment profit or loss for the three and nine months ended March 31, 2026 and 2025. 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.
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Three Months Ended March 31, |
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Nine Months Ended March 31, |
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2026 |
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2025 |
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2026 |
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2025 |
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Net Sales: |
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North America |
|
$ |
171,495 |
|
|
$ |
222,407 |
|
|
$ |
573,236 |
|
|
$ |
682,836 |
|
International |
|
|
166,862 |
|
|
|
167,944 |
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|
|
517,124 |
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|
|
513,596 |
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|
|
|
338,357 |
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|
|
390,351 |
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|
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1,090,360 |
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|
1,196,432 |
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Cost of sales, adjusted to exclude restructuring activities: |
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North America |
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(131,330 |
) |
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(172,637 |
) |
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(445,700 |
) |
|
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(527,669 |
) |
International |
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(136,041 |
) |
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(132,472 |
) |
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(426,949 |
) |
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(407,272 |
) |
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(267,371 |
) |
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(305,109 |
) |
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(872,649 |
) |
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(934,941 |
) |
Marketing expense: |
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North America |
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(9,884 |
) |
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(11,360 |
) |
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(27,599 |
) |
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(30,949 |
) |
International |
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(2,275 |
) |
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(4,908 |
) |
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(11,416 |
) |
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(13,913 |
) |
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(12,159 |
) |
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(16,268 |
) |
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(39,015 |
) |
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(44,862 |
) |
Other selling, general and administrative expenses, adjusted to exclude restructuring activities and depreciation and amortization: |
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North America |
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(16,614 |
) |
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(24,742 |
) |
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(63,907 |
) |
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(81,732 |
) |
International |
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(17,597 |
) |
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(14,982 |
) |
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(49,367 |
) |
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(48,542 |
) |
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(34,211 |
) |
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(39,724 |
) |
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(113,274 |
) |
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(130,274 |
) |
Depreciation and amortization and other adjustments: |
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North America |
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3,504 |
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3,638 |
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9,061 |
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12,586 |
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International |
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8,631 |
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6,584 |
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21,741 |
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21,193 |
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12,135 |
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10,222 |
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30,802 |
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33,779 |
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Segment Adjusted EBITDA: |
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North America |
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17,171 |
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17,306 |
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45,091 |
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55,072 |
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International |
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19,580 |
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22,166 |
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51,133 |
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|
65,062 |
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Total Reportable Segments Adjusted EBITDA |
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36,751 |
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39,472 |
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|
|
96,224 |
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|
120,134 |
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Corporate and Other |
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(10,499 |
) |
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(5,857 |
) |
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(25,958 |
) |
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(26,251 |
) |
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26,252 |
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33,615 |
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70,266 |
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93,883 |
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Depreciation and amortization |
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(12,484 |
) |
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(10,455 |
) |
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(39,044 |
) |
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(32,902 |
) |
Equity in net loss of equity-method investees |
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(21 |
) |
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(966 |
) |
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(327 |
) |
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(1,709 |
) |
Interest expense, net |
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(12,515 |
) |
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(11,096 |
) |
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(39,723 |
) |
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(36,084 |
) |
(Provision) benefit for income taxes |
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(759 |
) |
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505 |
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(1,889 |
) |
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(5,746 |
) |
Stock-based compensation, net |
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(1,138 |
) |
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(2,973 |
) |
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(4,192 |
) |
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(9,422 |
) |
Unrealized currency losses |
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(219 |
) |
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(1,137 |
) |
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(623 |
) |
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(707 |
) |
Proceeds from insurance claim(a) |
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— |
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— |
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25,900 |
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— |
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Certain litigation expenses, net(b) |
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(2,519 |
) |
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(407 |
) |
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(3,164 |
) |
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(2,254 |
) |
Restructuring activities |
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Productivity and transformation costs |
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(4,066 |
) |
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(7,289 |
) |
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(17,519 |
) |
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(16,497 |
) |
Plant closure related costs, net |
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(727 |
) |
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5 |
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(1,533 |
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(1,229 |
) |
Warehouse/manufacturing consolidation and other costs, net |
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— |
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(384 |
) |
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— |
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(384 |
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Acquisitions, divestitures and other |
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(Loss) gain on sale of assets |
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(50,529 |
) |
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106 |
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(48,501 |
) |
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(2,202 |
) |
Transaction and integration costs, net |
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(1,553 |
) |
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|
151 |
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(4,735 |
) |
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|
574 |
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Impairment charges |
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Goodwill impairment |
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(31,018 |
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(110,251 |
) |
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(150,926 |
) |
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(201,518 |
) |
Long-lived asset and intangibles impairment |
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(15,047 |
) |
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(24,012 |
) |
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(26,964 |
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(42,029 |
) |
Net loss |
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$ |
(106,343 |
) |
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$ |
(134,588 |
) |
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$ |
(242,974 |
) |
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$ |
(258,226 |
) |
(a)Represents a receivable under the Company’s R&W insurance related to one of our prior acquisitions, which was collected on January 2, 2026. (b)Expenses and items relating to securities class action, baby food litigation and SEC investigation.
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| Schedule of Net Sales by Product Category |
The Company’s net sales by product category are as follows:
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Three Months Ended March 31, |
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Nine Months Ended March 31, |
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2026 |
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2025 |
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2026 |
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2025 |
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Snacks |
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$ |
52,827 |
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$ |
88,506 |
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$ |
204,693 |
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$ |
277,688 |
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Baby & Kids |
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53,133 |
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59,896 |
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162,515 |
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182,225 |
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Beverages |
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66,502 |
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62,874 |
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200,609 |
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189,364 |
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Meal Preparation |
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153,231 |
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162,266 |
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485,117 |
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499,311 |
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Personal Care |
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12,664 |
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16,809 |
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37,426 |
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47,844 |
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$ |
338,357 |
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$ |
390,351 |
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$ |
1,090,360 |
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$ |
1,196,432 |
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| 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:
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Three Months Ended March 31, |
|
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Nine Months Ended March 31, |
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|
2026 |
|
|
2025 |
|
|
2026 |
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|
2025 |
|
United States |
|
$ |
154,585 |
|
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$ |
195,725 |
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$ |
509,690 |
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$ |
601,825 |
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United Kingdom |
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|
120,066 |
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|
123,256 |
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|
373,794 |
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|
380,615 |
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Western Europe |
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|
46,796 |
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44,688 |
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143,330 |
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|
132,981 |
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Canada |
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16,910 |
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|
26,682 |
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|
63,546 |
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|
81,011 |
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$ |
338,357 |
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$ |
390,351 |
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$ |
1,090,360 |
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$ |
1,196,432 |
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|