Hostess Brands Inc is purportedly exploring a sale after fielding takeover interest from major snack producers, including PepsiCo, Mondelez, General Mills and Hershey.
The maker of America’s No. 1 cupcake, mini doughnut and sugar-free cookie brands reported second-quarter revenue of $340.5m, exceeding Wall Street forecasts.
The Twinkies and Ding Dongs maker posted better-than-expected results for the third quarter, with higher volume, a favourable product mix, pricing and productivity and a higher volume offsetting rising inflation.
Hostess Brands has topped consensus revenue estimates four times over the past four quarters, again surpassing the Zachs Consensus Estimate by 1.38% for the quarter ended June 2020.
