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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 (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.
TreeHouse Foods, Inc. (NYSE: THS) will hold an audio webcast for its first quarter earnings results on May 6, 2021, at 8:30 a.m. ET. CEO Steve Oakland and CFO Bill Kelley will discuss financial outcomes and the 2021 outlook. An earnings release will be available before the market opens on the same day, along with accompanying slides accessible at 8:15 a.m. ET. TreeHouse Foods is a leading manufacturer of private label food and beverages across North America and Italy, operating around 40 production facilities.
TreeHouse Foods (NYSE: THS) announced a new commercial leadership structure effective April 1, 2021, aimed at enhancing customer relationships. Kevin G. Jackson has been confirmed as the permanent Chief Commercial Officer while also leading the Snacking & Beverages division. Sean Lewis has been promoted to Senior Vice President and Chief Customer Officer. CEO Steve Oakland emphasized that these changes reflect a commitment to customer-centric operations and strategic revenue goals. Both leaders bring extensive experience to their roles, with Jackson joining from J.M. Smucker and Lewis from Kraft Heinz.
TreeHouse Foods (NYSE: THS) has announced the election of Ann M. Sardini as the new Chair of the Board, effective from the April 2021 Annual Meeting. She succeeds Gary D. Smith, who will continue as a Board member. Sardini, an independent director since May 2008, brings extensive strategic and financial expertise to her new role. She has a background in leading transformation and advising on growth strategies across various sectors, including retail and media. The company aims to enhance its value and diversity under her leadership.
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