Hostess Brands enjoyed sales growth for the 10th straight quarter, and is sharing some of that wealth through worker bonuses.
Hostess had net revenue of $340.5 million for the quarter ending June 30, an increase of 17% over the same period last year. Gross profit was up 7.2%, to $112.7 million.
Company officials attributed the results to a combination of higher product prices and increased volume. Point-of-sale purchases of sweet goods rose 16%.
“Hostess Brands’ iconic brands, access to faster growing snacking occasions, broad-based distribution footprint and excellent execution continues to drive growth in a volatile environment,” CEO Andy Callahan said in a statement. “During the second quarter, our top-line momentum continued as we posted the 10th straight quarter of double-digit growth.”
Hostess also announced an award of bonuses for its nearly 2,000 bakery and warehouse workers. The bonuses will be up to $1,000 per worker, awarded according to years of service. A company announcement noted that workers often had to adjust their schedules around the availability of ingredients and added, “We are so thankful to our employees who, despite continued supply chain challenges, have remained flexible with their schedules to always meet the needs of our customers and consumers."
