TreeHouse Foods Q3 Adj. Profit Declines; Net Sales Up 16.4%

(RTTNews) - TreeHouse Foods, Inc. (THS) reported third quarter adjusted EPS from continuing operations of $0.30 compared to $0.42, prior year. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.16, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA from continuing operations was $76.6 million, compared to $85.8 million.

Net loss from continuing operations for the third quarter was $15.1 million, compared to a loss of $4.1 million, prior year. Loss per share from continuing operations was $0.27 compared to a loss of $0.07.

Net sales were $875.0 million compared to $751.7 million, last year, an increase of 16.4%. This was primarily driven by favorable pricing to recover commodity inflation, the company noted. Analysts on average had estimated $1.29 billion in revenue.

For the fourth quarter, TreeHouse expects 22% - 24% net sales growth year-over-year, and adjusted EBITDA margin from continuing operations of 10.5% - 12.0%.

The company expects fiscal 2023 net sales growth to be strong due to the wraparound impact of pricing actions to recover inflation in 2022.

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