TreeHouse Foods, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 06, 2023 at 07:05 am EST
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TreeHouse Foods, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 863.3 million compared to USD 832.9 million a year ago. Net income was USD 7.1 million compared to net loss of USD 90.5 million a year ago. Basic earnings per share from continuing operations was USD 0.18 compared to basic loss per share from continuing operations of USD 0.21 a year ago. Diluted earnings per share from continuing operations was USD 0.17 compared to diluted loss per share from continuing operations of USD 0.21 a year ago. Basic earnings per share was USD 0.13 compared to basic loss per share of USD 1.61 a year ago. Diluted earnings per share was USD 0.13 compared to diluted loss per share of USD 1.61 a year ago.
For the nine months, sales was USD 2,520.8 million compared to USD 2,340.4 million a year ago. Net income was USD 45.6 million compared to net loss of USD 122.9 million a year ago. Basic earnings per share from continuing operations was USD 0.94 compared to basic loss per share from continuing operations of USD 0.87 a year ago. Diluted earnings per share from continuing operations was USD 0.93 compared to diluted loss per share from continuing operations of USD 0.87 a year ago. Basic earnings per share was USD 0.81 compared to basic loss per share of USD 2.19 a year ago. Diluted earnings per share was USD 0.8 compared to diluted loss per share of USD 2.19 a year ago.
TreeHouse Foods, Inc. is a manufacturer and distributor of private label foods and beverages in North America. The Company's portfolio includes beverage and drink mix offerings, which include non-dairy creamer, coffee, broths/stocks, powdered beverages and other blends, tea, and ready-to-drink-beverages, and grocery offerings, which include pickles, refrigerated dough, hot cereal, and cheese and pudding. The Company sells its products to retail, co- manufacturing, and food-away-from-home customers in shelf-stable, refrigerated, and frozen formats. It also offers its customers a range of value and nutritional solutions, including natural, organic, and gluten-free products. It owns pickle branded assets, including Bick's pickles, Habitant pickled beets, Woodman's horseradish and McLarens pickled onion brands. The Company sells its products through various distribution channels, including retailers, food service distributors, co-manufacturers, and industrial and export channels.