TreeHouse backs FY24 revenue view $3.37B-$3.4B, consensus $3.37B

Backs FY24 adjusted EBITDA view $335M-$345M. Backs FY24 capital expenditures view $145M. The company said, “The Company has agreed to a purchase price that equals roughly 8.5x trailing-twelve-month adjusted EBITDA, or 6.5x net of synergies and the net present value of future tax benefits. This transaction is expected to close in the first quarter of 2025 and will be funded primarily with cash on hand, and fully satisfies the Company’s obligation under its bond indenture to either reinvest certain proceeds from the previously completed Meal Preparation sale or retire debt. Upon closing, the Company expects its leverage ratio1 to be within its target range of 3.0x to 3.5x. Finally, TreeHouse (THS) Foods is reiterating its 2024 full year guidance, including the expectation of sequential improvement in volume growth and profit margin in the fourth quarter.”