TreeHouse Foods ( (THS) ) has released its Q3 earnings. Here is a breakdown of the information TreeHouse Foods presented to its investors.
TreeHouse Foods, Inc. is a prominent private brands producer in the North American snacking and beverage sector, focused on customer engagement and long-term growth through operational efficiencies. In its third quarter of 2024, TreeHouse Foods reported mixed results with net sales reaching $839.1 million, or $854.4 million when excluding a voluntary griddle product recall. The quarter saw a net loss from continuing operations of $3.4 million, yet adjusted EBITDA was within expected guidance at $102.5 million, indicating effective supply chain savings. Key financial metrics highlighted a 2.8% decrease in net sales year-over-year, largely due to a product recall and disruptions from Hurricane Helene. Despite a decrease in gross profit margins caused by the recall, adjusted gross profit margins improved due to supply chain initiatives. The company also updated its outlook for 2024, expecting adjusted net sales between $3.37 billion and $3.40 billion, and adjusted EBITDA in the range of $335 to $345 million. Looking ahead, TreeHouse Foods anticipates a sequential improvement in organic volume growth and remains confident in its strategic positioning, while acknowledging the ongoing challenges posed by the consumer environment and product recall impacts.
