TreeHouse Foods Q2 Profit, Revenue Beat Estimates; Raises Annual Sales Outlook

(RTTNews) - TreeHouse Foods, Inc. (THS), a food processing company, Thursday reported net loss of $2.9 million or $0.06 per share for the second quarter, lower than $16.7 million or $0.32 per share loss in the same quarter a year ago.

Excluding one-time items, the company posted adjusted earnings of $8.8 million or $0.17 per share, that beat the analysts' average estimate of $0.12 per share. Analysts' estimates typically exclude special items.

Operating income was $27.3 million compared with operating loss of $4 million last year.

Net sales grew 1.2% to $798 million from $788.5 million in the previous year. The consensus estimate was for $788.14 million.

For the full year, the company has raised its adjusted sales guidance. It now expects annual adjusted net sales of $3.360 billion - $3.415 billion, up from the previous outlook of $3.34 billion - $3.40 billion. The Street is looking for revenue of $3.36 billion for the year.