Ralcorp Expects Lower Earnings

Ralcorp Holdings, Inc. (RAH 62.17, +0.38, +0.61%) has announced that the company expects diluted earnings per share for the third quarter will be approximately $1.00 per share, compared with $1.31 for the corresponding period last year.

Principal factors contributing to this downward estimate can be attributed to cereal category dynamics including lower returns on promotional spending at Post Foods and the impact of branded competition on private label cereal results at Ralston Foods.

The company does not plan to provide earnings guidance in the future other than in unique circumstances, or in the event of a material event that requires disclosure.

Conference Call

Ralcorp is hosting a conference call on June 21 at 9:00 a.m. EDT to discuss the transaction.

A rebroadcast will be posted as soon as it is available and will remain posted until July 5, 2010 by calling 1-800-642-1687 U.S. and 1-706-645-9291 outside the U.S. The PIN number for both the conference call and the rebroadcast is 83096717. An archive of the webcast will be posted as soon as it is available and will remain posted for 30 days in the investor relations section on Ralcorp's website at www.ralcorp.com.

About Ralcorp

Ralcorp produces Post branded cereals, a variety of value brand and store brand foods sold under the individual labels of various grocery, mass merchandise and drugstore retailers, and frozen bakery products sold to in-store bakeries, restaurants and other foodservice customers. Ralcorp's diversified product mix includes: ready-to-eat and hot cereals; nutritional and cereal bars; snack mixes, corn-based chips and extruded corn snack products; crackers and cookies; snack nuts; chocolate candy; salad dressings; mayonnaise; peanut butter; jams and jellies; syrups; sauces; frozen griddle products including pancakes, waffles, and French toast; frozen biscuits and other frozen pre-baked products such as breads and muffins; and frozen dough for cookies, Danishes, bagels and doughnuts.

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