TreeHouse Foods Q3 Earnings Top Estimates

Loading...
Loading...
  • TreeHouse Foods Inc THS reported third-quarter FY22 sales growth of 18% year-on-year to $1.299 billion, beating the consensus of $1.29 billion.
  • The revenue increase was primarily driven by favorable pricing to partially recover commodity inflation.
  • On a continuing operations basis, net sales increased 16.4% to $875.0 million. The gross profit for the quarter contracted 190 basis points Y/Y to 14.8%.
  • The company reported an operating loss of $(9.5) million versus a $9 million profit last year. The operating expenses rose 18.7% Y/Y to $138.8 million.
  • Adjusted EPS of $0.18 beat the analyst consensus of $0.16.
  • Adjusted EBITDA from continuing operations totaled $76.6 million, and the margin was 8.8%.
  • The company held $74.7 million in cash and equivalents as of September 30, 2022.
  • "The successful divestiture of a significant portion of our Meal Preparation assets positions us well to execute on our strategy: to capitalize on strong consumer demand trends in order to accelerate growth across our higher-margin private label snacking and beverage categories while driving long-term shareholder value," said CEO Steve Oakland.
  • Outlook: TreeHouse sees Q4 sales growth of 22% - 24%. The company expects Q4 adjusted EBITDA margin from continuing operations of 10.5% - 12%.
  • The company said FY23 net sales growth is expected to be strong due to the wraparound impact of its pricing actions to recover inflation in 2022.
  • Price Action: THS shares are trading lower by 6.68% at $45.33 on the last check Monday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceMoversTrading IdeasGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...