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TreeHouse Foods, Inc. (NYSE: THS) is a major private label food and beverage manufacturer in North America. The company focuses on producing high-quality food products including snacks (crackers, pretzels, cookies), beverages (nondairy creamer, coffee, tea), and various grocery items (pickles, refrigerated dough, hot cereal, cheese, pudding). The primary sales channel for TreeHouse Foods is retail grocery stores, where products are sold under the retailers' brands. Other channels include co-manufacturing and foodservice.
Founded with a strategic vision and a commitment to quality, TreeHouse Foods has grown significantly over the years. In 2016, TreeHouse acquired Ralcorp, Conagra's former private-label business, marking a major expansion. However, the company has since streamlined its operations, divesting several businesses to focus on high-growth categories.
Recently, TreeHouse Foods signed a definitive agreement with The J.M. Smucker Co. to acquire the Bick's® pickles, Habitant® pickled beets, Woodman's® horseradish, and McLarens® pickled onions brands for approximately $20 million. This acquisition will enhance TreeHouse Foods' presence in the pickles category and provide entry into the Canadian market.
TreeHouse's financial health demonstrates resilience and strategic growth. The company reported a 3.6% increase in net sales for Q3 2023, totaling $863.3 million, driven by the acquisition of Coffee Roasting Capability and favorable pricing. Despite some challenges such as a voluntary product recall, TreeHouse expanded its gross margin and achieved a 13% year-over-year increase in adjusted EBITDA.
As of Q4 2023, TreeHouse Foods further reported net sales of $910.8 million. The company faced some challenges due to supply chain disruptions, but it continues to focus on strengthening its portfolio and enhancing capabilities, particularly in the private brands market which has seen significant growth.
The company's latest financial results indicate a solid start to fiscal 2024, with net sales of $820.7 million for Q1 2024. TreeHouse is making strides in its commercial pipeline, despite a challenging consumer environment and some operational hurdles.
As a leader in the private label sector, TreeHouse Foods remains committed to delivering excellent service to its customers and creating long-term value for its shareholders through strategic investments and operational efficiencies.
TreeHouse Foods (NYSE: THS), a leading private brands snacking and beverage manufacturer in North America, has scheduled its fourth quarter 2024 financial results announcement for February 14, 2025, before market open. The company will host an earnings call and webcast at 8:30 a.m. ET to discuss Q4 and fiscal 2024 results, along with providing initial outlook for the upcoming fiscal year.
The company will make an Earnings Presentation available on its investor relations website prior to the conference call. A replay of the webcast will be accessible on the same platform after the call concludes. TreeHouse Foods focuses on delivering excellent service and building capabilities to drive mutually profitable growth with its customers through category experience and customer-centric approach.
TreeHouse Foods (NYSE: THS) has completed the acquisition of Harris Tea for approximately $205 million, primarily funded with cash on hand. The acquisition provides TreeHouse Foods with an immediate leadership position in private label tea and brings Harris Tea's capabilities in tea sourcing, blending, and packing.
The purchase price represents approximately 8.5x trailing-twelve-month adjusted EBITDA, or 6.5x net of synergies and the net present value of future tax benefits. The company expects the acquisition to be accretive to revenue and profitability in 2025. TreeHouse Foods has reiterated its 2024 full-year guidance, including expectations for sequential improvement in volume growth and profit margin in the fourth quarter.
TreeHouse Foods (NYSE: THS) has announced the acquisition of Harris Tea's private brand tea business for $205 million. The deal includes manufacturing facilities in Moorestown, NJ and Marietta, GA, and approximately 300 employees. The purchase price represents 8.5x trailing-twelve-month adjusted EBITDA, or 6.5x net of synergies and tax benefits. The transaction, expected to close in Q1 2025, will be funded primarily with cash on hand and aims to strengthen TreeHouse's position in the tea category. The company reiterates its 2024 guidance, expecting sequential improvement in volume growth and profit margin in Q4.
TreeHouse Foods (NYSE: THS) announced that its Board of Directors has approved a $400 million share repurchase authorization with an annual cap of $150 million. The company can begin repurchasing shares immediately through open market, private purchases, or other means. The shares will be held as treasury stock. CEO Steve Oakland stated this decision reflects their capital allocation strategy and the Board's confidence in their balance sheet and future cash generating capability.
TreeHouse Foods (NYSE: THS) reported mixed third quarter 2024 results with net sales of $839.1 million, down 2.8% year-over-year. The company posted a net loss from continuing operations of $3.4 million. Adjusted EBITDA reached $102.5 million, within guidance range. A voluntary griddle product recall impacted results, leading to updated 2024 guidance: adjusted net sales of $3.37-3.40 billion, adjusted EBITDA of $335-345 million, and free cash flow of at least $120 million. Supply chain savings initiatives led to margin improvements, while softer consumer demand and recall impacts tempered expectations.
TreeHouse Foods (NYSE: THS) has expanded its voluntary recall to include all frozen toaster waffle, Belgian waffle, and pancake products manufactured at one facility due to potential Listeria monocytogenes contamination. The recall affects products distributed throughout the United States and Canada under various brand names, with Best By dates ranging from October 1, 2024 to October 11, 2025.
The recalled products were sold through major retailers including Albertson's, Aldi, Dollar General, HEB, Kroger, Publix, Target, and Walmart. Affected items include popular brands like 365 Organic, Kodiak Cakes, Nature's Path Organic, and Trader Joe's, among many others. Consumers can identify recalled products by checking the UPC, Lot Code, and Best By Date on the packaging.
Listeria monocytogenes can cause serious infections, particularly in young children, elderly people, and those with weakened immune systems. Symptoms may include high fever, severe headache, stiffness, nausea, abdominal pain, and diarrhea. The infection can also lead to miscarriages and stillbirths in pregnant women.
TreeHouse Foods (NYSE: THS) is voluntarily recalling certain frozen waffle products due to potential Listeria monocytogenes contamination. The recalled products were distributed in the U.S. and Canada under various brand names. Affected products can be identified by UPC, Lot Code, and Best By Date on the packaging. No illnesses have been reported related to these products. The issue was discovered through routine testing at the manufacturing facility.
Consumers should check their freezers for the listed products and dispose of them or return for credit. Questions can be directed to TreeHouse Foods at 800-596-2903. The recall is being conducted with the knowledge of the U.S. FDA and Canadian Food Inspection Agency. Affected brands include Always Save, Best Choice, Breakfast Best, Clover Valley, Food Lion, Giant Eagle, Good & Gather, Great Value and others.
TreeHouse Foods, Inc. (NYSE: THS) has announced that it will report its third quarter 2024 financial results on Tuesday, November 12, 2024, before the market opens. The company will host an earnings call and webcast at 8:30 a.m. ET to discuss the results and provide an outlook for the rest of the year. Interested parties can register for the webcast on the company's website, where an Earnings Presentation will also be available prior to the call. TreeHouse Foods is a leading private brands snacking and beverage manufacturer in North America, focusing on customer engagement and delivering excellent service to drive mutually profitable growth.
TreeHouse Foods (NYSE: THS) has announced its participation in two major investor conferences in September 2024. The company will attend the Barclays 17th Annual Global Consumer Staples Conference in Boston from September 3-5, featuring investor meetings and a fireside chat on September 5 at 12:30 p.m. CT. A live audio webcast will be available on the company's website.
Additionally, TreeHouse Foods will participate in TD Cowen's 2nd Annual Sip, Snack & Scrub Summit in New York on September 17, engaging in investor meetings throughout the day. As a leading private brands snacking and beverage manufacturer in North America, TreeHouse Foods aims to deliver excellent service and drive mutually profitable growth through customer focus and category experience.
TreeHouse Foods (NYSE: THS) reported Q2 2024 financial results.
Net sales reached $788.5 million, slightly down 1.9% YoY but above guidance. Net loss was $16.7 million compared to a net income of $22.4 million the previous year. Adjusted EBITDA was $70.6 million, surpassing guidance but down from $76.3 million YoY.
The company reaffirms its 2024 outlook with net sales expected between $3.43 to $3.50 billion and free cash flow of at least $130 million. Adjusted EBITDA guidance is narrowed to $360-$380 million. Share repurchase of $45 million was executed in Q2.
Factors contributing to financial performance include supply chain initiatives, broth facility restoration, and new distribution wins. However, increased operating expenses, non-cash impairment charges, and unfavorable market conditions impacted results.
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