TreeHouse Foods Posts Loss From Cont. Ops. In Q1; Reaffirms 2024 Outlook

(RTTNews) - TreeHouse Foods, Inc. (THS) posted a net loss from continuing operations for the first quarter of $11.7 million, compared to net income from continuing operations of $20.4 million, prior year. Loss per share from continuing operations was $0.22 compared to profit of $0.36. Adjusted EBITDA from continuing operations declined to $46.0 million from $91.3 million. Adjusted loss per share from continuing operations was $0.03 compared to profit of $0.70. On average, seven analysts polled by Thomson Reuters expected the company to report a loss per share of $0.01, for the quarter. Analysts' estimates typically exclude special items.

Net sales for the first quarter totaled $820.7 million compared to $854.0 million, last year, a decrease of 3.9%. Analysts on average had estimated $797.18 million in revenue.

TreeHouse reaffirmed its full year 2024 guidance. Net sales are expected in the range of $3.43 to $3.50 billion. Adjusted EBITDA from continuing operations is expected in the range of $360 to $390 million.

"While the downtime at our broth facility impacted first quarter profitability, restart of that facility coupled with our meaningful supply chain savings initiatives position us well to expand margin through the rest of the year and deliver our full year profitability guidance," said Steve Oakland, CEO, and President.

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