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What: Shares of Post Holdings Inc (NYSE:POST) were giving investors an upset stomach today, falling as much as 11% after missing the mark in its second-quarter earnings report.

So what: The cereal giant saw revenue spike in the quarter, jumping 77%, to $438 million, as it went on a shopping spree acquiring three new companies in the quarter: Dakota Growers Pasta Company, Golden Boy Foods, and Dymatize Enterprises. As consumers shift to fresh and organic foods, Post is trying to diversify away from its traditional stronghold. Still, its sales total was short of estimates at $448 million. On the bottom line, it finished with an adjusted per-share loss of $0.21, much worse than expectations of a profit of $0.23

Now what: Adjusted EBITDA in the quarter actually improved from $51 million a year ago to $63.5 million, so perhaps the quarterly loss is not as bad as it seems. Post continued absorbing new companies in the current quarter, adding Michael Foods last month, and expects adjusted EBITDA of $300 million-$320 million for the year. It's hard to say currently how the recent slew of acquisitions will play out, but with the recent headlong expansion, this quarter is unlikely to be reflective of the company's performance in a year or two. You can keep an eye on Post by adding it to your Watchlist here.  

Jeremy Bowman has no position in any stocks mentioned. The Motley Fool recommends Post Holdings. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.