These efforts seem relevant amid supply-chain concerns and inflated costs. While TreeHouse Foods' secondhalf 2024 results are expected to improve sequentially, management's view for the second quarter suggests a decline from the year-ago period. Let's delve deeper. TreeHouse Foods is focused on enhancing the supply chain and ensuring exceptional service delivery, ultimately driving organic growth and creating sustained value for all shareholders. Execution against its 2024 plans has been strong, with severa ...

It has been about a month since the last earnings report for TreeHouse Foods (THS) . Shares have added about 4.2% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is TreeHouse due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. TreeHouse Foods Q1 Loss Wider Than Expected, ...

Commission File Number: 001-32504 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended March 31, 2024. or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to TreeHouse Foods, Inc. (Exact name of the registrant as specified in its charter) Delaware 20-2311383 (State or other jur ...

Financial Data and Key Metrics Changes - The company reported net sales of $821 million for the first quarter, a decline of 3.9% year-over-year, but exceeding the top end of guidance of $810 million [18][21][24] - Adjusted EBITDA was $46 million, aligning with expected ranges [18][24] - The company anticipates net interest expense between $56 million to $62 million and capital expenditures of approximately $145 million for the year [25][31] Business Line Data and Key Metrics Changes - Volume and mix, including absorption, decreased by $35 million, primarily due to an unfavorable category mix and lower volume from the broth business [19][21] - The broth facility is expected to improve production in the coming months, contributing positively to the second half of the year [13][20] - The company has seen a 20% increase in its net sales pipeline, indicating strong potential for organic growth [4][8] Market Data and Key Metrics Changes - Private brand unit sales in measured retail channels were modestly positive compared to national brands, which continued to decline [11][10] - The price gaps between national brands and private brands remain elevated, supporting the growth of private brands [16][10] Company Strategy and Development Direction - The company is focused on capital deployment to drive market share leadership in consumer trending food and beverage categories [15][17] - Supply chain initiatives are being prioritized to enhance competitive positioning and strengthen customer partnerships [5][6] - The company aims to capture strong consumer trends in private brands and snacking, which are expected to drive growth [10][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver on its full-year guidance, citing strong new sales opportunities and cost-saving initiatives [3][34] - The company expects significant gross cost savings of approximately $50 million in the latter half of the year [14][34] - Management noted that the operating environment remains supportive of private brand growth despite short-term economic changes [10][17] Other Important Information - The company has executed a share repurchase program, repurchasing $44 million of company stock in the first quarter [30] - The company is maintaining its full-year net sales outlook of flat to 2% year-over-year growth, with expectations for organic volume and mix to be slightly positive [24][31] Q&A Session Summary Question: What is the expected impact of the broth facility restart on EBITDA? - The broth facility restart is expected to impact volume and mix, with a projected drag on EBITDA of about $20 million [63] Question: How does the company manage pricing in relation to commodity volatility? - The company uses short-term hedging tied to product delivery cycles and has taken pricing actions to address cocoa inflation [46][55] Question: What is the timing for new business wins to impact the P&L? - New distribution partnerships are expected to begin in the third quarter, contributing positively to the second half of the year [59][73] Question: How is the competitive bidding environment for private label volumes changing? - The competitive environment remains dynamic, with retailers increasingly investing in private label, which may enhance profitability [70][66] Question: What are the expectations for promotional activity in the second half of the year? - Increased promotional activity is anticipated in high seasonal categories, driven by improved supply chain confidence [78]

TreeHouse Foods, Inc. Reports First Quarter 2024 Results TreeHouse First Quarter Net Sales Exceed Guidance Range Reaf irms 2024 Annual Guidance Oak Brook, IL, May 6, 2024 — TreeHouse Foods, Inc. (NYSE: THS) today reported financial results for the first quarter of 2024. "We're encouraged by our solid start to fiscal 2024, delivering net sales results above our expectations. We are building momentum with our commercial pipeline, the largest in recent history, with good progress closing opportunities. I belie ...

Acquisitions and Divestitures - TreeHouse Foods completed the acquisition of pickle branded assets from The J.M. Smucker Co. on January 2, 2024, expanding its presence in the Pickles category into Canada[19]. - The Snack Bars business was sold on September 29, 2023, as part of a strategic review process, which also included the divestiture of a significant portion of the Meal Preparation business in Q4 2022[20][23]. - The acquisition of the Direct Ship coffee business from Farmer Brothers Company on June 30, 2023, enhances TreeHouse's capabilities in the coffee sector, complementing its existing offerings[21]. - The Company completed the acquisition of pickle branded assets for approximately $20.0 million on January 2, 2024, expanding its presence in the Pickles category[119]. - The Company sold its Snack Bars business for approximately $58.7 million in cash on September 29, 2023, as part of its strategic review process[121]. - The Company completed the sale of a significant portion of its Meal Preparation business for a final purchase price of $943.5 million[181]. Financial Performance - For the year ended December 31, 2023, the ten largest customers accounted for approximately 56.7% of consolidated net sales, with Walmart Inc. representing 22.4%[29]. - The Company reported net sales of $3,431.6 million for the year ended December 31, 2023, representing a 4.1% increase from $3,297.1 million in 2022[128]. - Gross profit increased to $576.1 million in 2023, up 10.3% from $522.4 million in the previous year, resulting in a gross margin of 16.8%[128]. - Operating income improved significantly to $146.9 million in 2023, compared to a loss of $12.6 million in 2022, marking a 1,265.9% increase[128]. - Net income for the year ended December 31, 2023, was $53.1 million, a significant recovery from a net loss of $146.3 million in 2022[128]. - Adjusted EBITDA from continuing operations increased to $365.9 million in 2023, up $74.2 million or 25.4% from $291.7 million in 2022[129]. - Adjusted net income from continuing operations rose to $139.2 million in 2023, reflecting a 91.7% increase from $72.6 million in 2022[129]. - Free cash flow from continuing operations for 2023 was $16.5 million, a recovery from a negative free cash flow of $(161.2) million in 2022[208]. Workforce and Diversity - As of December 31, 2023, TreeHouse employed approximately 7,400 full-time employees, with 6,000 in the United States and 1,400 in Canada[43]. - As of December 31, 2023, 42% of the hourly workforce and 48% of the salaried workforce were women, while 39% of the hourly workforce and 21% of the salaried workforce were from racially or ethnically underrepresented groups[48]. - The company has invested in an educational platform called DevelopU, which includes over 10,000 courses aimed at enhancing employee skills and engagement[49]. - The company has established a multi-year DEI Strategic Roadmap focusing on Representation, Education, and Career Advancement to drive diversity and inclusion[46]. - The company’s DEI initiatives are supported by a governance model that engages leadership at all levels, including a DEI & Culture Council[47]. Operational Challenges - Labor shortages and increased competition have led to rising labor costs, negatively impacting profitability[56]. - The company’s supply chain is vulnerable to disruptions from various factors, including geopolitical events and natural disasters, which could adversely affect operations[53]. - The company faces intense competition in the food industry, with the need to innovate and monitor trends to maintain market position[57]. - Climate change and related regulations may lead to increased costs and reduced availability of critical raw materials, affecting profitability[87]. Debt and Financial Obligations - The company has $1,405.6 million of outstanding indebtedness, including a $588.6 million term loan maturing on March 26, 2026, and $500.0 million of 4.0% notes due September 1, 2028[80]. - The company’s ability to service its debt obligations depends on financial condition and operating performance, which are subject to various external factors[80]. - Estimated future interest payments on the company's debt are expected to be $272.2 million, with $82.7 million due in 2024[175]. - Long-term debt outstanding was $1,405.6 million as of December 31, 2023, a slight decrease from $1,406.2 million in 2022[164]. Risk Management - The company is exposed to interest rate risk with approximately $905.0 million in debt instruments, and a one percentage point change in SOFR rates would result in an approximate $0.3 million change in annual cash interest expense[84]. - The company has invested in technology security initiatives to mitigate risks from cyber threats, but remains vulnerable to data breaches and system disruptions[65]. - The Company utilizes derivative contracts to manage commodity price risk, which are not recorded on the Consolidated Balance Sheets[213]. - The Company’s forward purchasing programs may not always result in optimal pricing outcomes[213]. Strategic Initiatives - TreeHouse's strategic growth pillars include commercial excellence, operational excellence, portfolio optimization, and a focus on environmental, social, and governance (ESG) initiatives[26]. - The company has made significant investments to build capabilities in innovation, manufacturing capacity, and consumer insights to drive growth[28]. - The company’s strategic ambition includes a disciplined capital allocation strategy to drive long-term growth following recent divestitures and acquisitions[90].

Treehouse Foods, Inc. (NYSE:THS) Q4 2023 Earnings Conference Call February 16, 2024 8:30 AM ET Company Participants Steve Oakland - Chairman, President & CEO Pat O'Donnell - EVP & CFO Matt Siler - IR Conference Call Participants Andrew Lazar - Barclays Matt Smith - Stifel Jim Salera - Stephens, Inc. Rob Moskow - TD Cowen Rob Dickerson - Jefferies William Browder - Bank of America Carla Casella - J.P. Morgan Jon Anderson - William Blair Operator Welcome to the Treehouse Foods Fourth Quarter 2023 Conference C ...

Source: Circana Syndicated POS Data ending 12/31/2023 for TreeHouse categories. Chart not drawn to scale. 8 Promotions Generate Higher Returns Historical Price Gap Range Private Brand Promotions Generate Higher Returns on Investment than National Brands Source: Circana Syndicated POS Data ending 12/31/2023 for TreeHouse categories (left chart). Circana POS 52-week data; Incremental dollars per trade down dollars, any merch (right chart). Volume/mix: | --- | --- | |-----------------------------------|------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended September 30, 2023. or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number: 001-32504 TreeHouse Foods, Inc. (Exact name of the registrant as specified in its charter) Delaware 20-2311383 (State or other ...

Treehouse Foods, Inc. (NYSE:THS) Q3 2023 Earnings Conference Call November 6, 2023 8:30 AM ET Company Participants Steve Oakland - Chairman, President & CEO Pat O'Donnell - EVP & CFO Colleen Fiocchi - IR Conference Call Participants Andrew Lazar - Barclays Rob Dickerson - Jefferies Matt Smith - Stifel Carla Casella - J.P. Morgan Jon Andersen - William Blair Jim Salera - Stephens Inc. Operator Hello. Welcome to the Treehouse Foods Third Quarter 2023 Conference Call. [Operator Instructions]. At this time, I w ...