Hostess Brands, Inc. (TWNK) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-15	Dec-31-14
Revenues	1,142.0	1,016.6	907.7	850.4	776.2	618.2	554.7
Revenue growth	12.3%	12.0%	6.7%	9.6%		11.4%
Cost of goods sold	732.1	664.4	613.3	588.4	450.5	356.0	320.8
Gross profit	410.0	352.2	294.4	261.9	325.7	262.2	233.9
Gross margin	35.9%	34.6%	32.4%	30.8%	42.0%	42.4%	42.2%
Selling, general and administrative						106.3
Sales and marketing	88.0	92.5	70.5	65.1	65.1		57.9
General and administrative	99.2	92.9	69.4	52.8	52.9		33.1
EBITA	224.2	166.1	161.4	145.9	257.8	191.5	132.7
EBITA margin	19.6%	16.3%	17.8%	17.2%	33.2%	31.0%	23.9%
Amortization of intangibles	23.5	26.5	23.4	24.1	23.9	0.9
EBIT	200.7	139.6	138.0	121.9	234.0	190.6	132.7
EBIT margin	17.6%	13.7%	15.2%	14.3%	30.1%	30.8%	23.9%
Pre-tax income	159.8	128.7	35.6	94.4	190.9	88.8	81.5
Income taxes	40.5	20.4	16.9	13.0	-67.2	0.0	0.0
Tax rate	25.4%	15.9%	47.4%	13.7%		0.0%	0.0%
Net income	119.3	104.7	4.3	62.9	223.9	84.3	81.5
Net margin	10.4%	10.3%	0.5%	7.4%	28.8%	13.6%	14.7%

Diluted EPS	$0.86	$0.82	$0.04	$0.61	$2.13	$8.99
Shares outstanding (diluted)	138.2	127.7	111.0	103.1	105.3	9.4

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.