Why TreeHouse Foods Shares Are Surging Today - Treehouse Foods (NYSE:THS)

TreeHouse Foods Inc THS reported first-quarter FY22 sales growth of 7.9% year-on-year to $1.14 billion, beating the consensus of $1.09 billion.
The gross profit for the quarter contracted 350 basis points Y/Y to 13.6%.
The company reported an operating loss of $(40.7) million versus an operating income of $11 million last year. The operating expenses rose 15% Y/Y to $195.7 million.
Adjusted EPS loss of $(0.15) beat the analyst consensus of $(0.52).
Adjusted EBITDA from continuing operations fell 43% to $57.5 million, primarily due to commodity and freight cost inflation.
The company held $192.8 million in cash and equivalents as of March 31, 2022.
Outlook: TreeHouse reaffirmed its FY22 sales growth outlook of at least 11% year-over-year. The company expects FY22 adjusted EBITDA of $385 million - $415 million.
Price Action: THS shares traded higher by 18% at $36.05 on the last check Monday.