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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) announced a plan to explore strategic alternatives, including a potential sale or divestiture of its Meal Prep business, aimed at focusing on its higher-growth Snacking and Beverages segment. This decision follows a year of engagement with shareholders and a strategic review initiated earlier in 2021. The company has significantly reduced its debt by over $800 million since 2016, positioning itself for future growth. TreeHouse has retained Evercore as its financial advisor and legal support from Sidley Austin LLP and Gibson Dunn for this exploration.
TreeHouse Foods, Inc. (NYSE: THS) will host a webcast for its third quarter earnings results on November 8, 2021, at 8:30 a.m. ET. Steve Oakland, CEO, and Bill Kelley, CFO, will discuss third quarter results and the company's outlook. An earnings release will precede the conference call, available before market opening. The webcast can be accessed on the company's website under the 'Investors' section. TreeHouse Foods is a major player in private label packaged foods and beverages, operating around 40 facilities in North America and Italy.
TreeHouse Foods (NYSE: THS) announces that senior management will present at the Barclays Global Consumer Staples Conference on September 8, 2021, at 4:00 p.m. EDT. CEO Steve Oakland and CFO Bill Kelley will speak during the event. Interested parties can access the live webcast on the company's website under the 'Investors' section, with slides posted afterward. TreeHouse Foods is a leading manufacturer of private label packaged foods in North America, operating approximately 40 production facilities.
TreeHouse Foods (THS) reported a second-quarter GAAP loss per diluted share of $(0.09) compared to $(0.05) in Q2 2020. Adjusted EPS was $0.26, down from $0.58. Net sales declined by 3.7% to $1,003.2 million, attributed to lower consumer demand for private brands and inflation-related pricing adjustments. The company revised its full-year adjusted EPS guidance to $2.00-$2.50, amid ongoing macroeconomic uncertainty and increased costs. Despite these challenges, TreeHouse remains optimistic about future growth opportunities in private label products.
TreeHouse Foods, Inc. (NYSE: THS) announced the retirement of Gary D. Smith from its Board of Directors effective July 29, 2021. Smith, a director since 2005 and former Chairman, played a significant role in guiding the company's strategic transformation. His departure reduces the board to ten directors. Ann M. Sardini, Board Chair, and CEO Steve Oakland expressed gratitude for his leadership and contributions, emphasizing his lasting impact on the company's growth strategy. TreeHouse Foods focuses on providing private label packaged foods and beverages across North America.
TreeHouse Foods, Inc. (NYSE: THS) will host a conference call on August 5, 2021, at 8:00 a.m. ET to discuss its Q2 earnings results and outlook for the remainder of 2021. The earnings release will be available before market opening on the same day, along with presentation slides at approximately 7:45 a.m. ET. Interested parties can join the audio webcast via the company’s website. TreeHouse Foods manufactures private label packaged foods and beverages, operating about 40 production facilities across North America and Italy.
TreeHouse Foods, Inc. (NYSE: THS) has appointed Kristy N. Waterman as Executive Vice President, General Counsel, and Corporate Secretary, effective July 1, 2021. She will oversee the legal, compliance, and ethics organization, reporting to CEO Steve Oakland. Waterman previously served at DFA Dairy Brands and has extensive experience in legal matters related to capital markets and mergers. Her predecessor, Tom O'Neill, will transition to a consulting role. Oakland emphasized Waterman's strong fit for the company as it aims for sustainable growth and shareholder value.
On June 1, 2021, TreeHouse Foods (NYSE: THS) announced the completion of its sale of the ready-to-eat (RTE) cereal business to Post Holdings, Inc. (NYSE: POST) for $85 million. This strategic move aims to enhance value for customers and shareholders while ensuring opportunities for the RTE business under Post's ownership. The acquired business includes manufacturing plants in Lancaster, Ohio and Sparks, Nevada, along with a research facility in Sauget, Illinois. The transaction reflects TreeHouse's ongoing strategy to streamline operations.
TreeHouse Foods (THS) reported Q1 2021 GAAP earnings per share of $0.01, a significant improvement from a loss of $0.58 in Q1 2020. Adjusted EPS was $0.36, down slightly from $0.37 last year. Revenue fell 2.5% to $1,057.3 million, driven by decreased retail demand post-pandemic pantry stocking. Despite challenges, the company maintained an adjusted gross profit margin of 18.1% and improved its capital structure through debt redemption. TreeHouse reaffirmed guidance for 2021 adjusted EPS of $2.80 to $3.20 and net sales of $4.40 to $4.60 billion.
TreeHouse Foods (NYSE: THS) announced the departure of Senior VP and COO Shay Braun, effective April 30, 2021, to join Select Milk as President. Craig McCutcheon, also a Senior VP, will take over Braun's responsibilities temporarily, overseeing operations, supply chain, and food safety, while reporting directly to CEO Steve Oakland. The company is engaging an external firm to find a permanent replacement. CEO Oakland expressed gratitude for Braun's contributions and confidence in the management team to continue driving growth and value during this transition.
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