TreeHouse Foods Boosts FY23 Revenue Outlook As Q2 Revenues Tops View
(RTTNews) - While reporting financial results for the second quarter on Monday, food and beverage maker TreeHouse Foods, Inc. (THS) raised its nets sales guidance for the full-year 2023.
For fiscal 2023, the company now projects net sales between $3.71 billion and $3.78 billion, with a sales growth of 7.5 to 9.5 percent, and adjusted EBITDA in the range of $360 million to $370 million.
Previously, the company expected net sales between $3.66 billion and $3.73 billion, with a sales growth of 6 to 8 percent, and adjusted EBITDA in the range of $355 million to $375 million.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.64 per share on revenues of $3.70 billion for the year. Analysts' estimates typically exclude special items.
For the third quarter, the company expects revenue between $950 million and $970 million and adjusted EBITDA in a range of $81 million to $89 million. Analysts expect earnings of $0.55 per share on revenues of $930.12 billion for the quarter.
For the second quarter, the company reported net income of $23.3 million or $0.41 per share, compared to a net loss of $29.4 million or $0.53 per share in the prior-year quarter. Net income from continuing operations was $0.38 per share, compared to a net loss from continuing operations of $0.49 per share last year.
Excluding items, adjusted earnings from continuing operations was $0.42 per share, compared to $0.05 per share in the year-ago quarter.
Net sales for the quarter grew 4.1 percent to $843.6 million from $810.2 million in the same quarter last year, primarily driven by favorable pricing to recover commodity inflation.
The Street was looking for earnings of $0.42 per share on revenues of $831.81 million for the quarter.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
TreeHouse To Sell Lakeville Manufacturing Facility And Snack Bars Business To John B. Sanfilippo
Farmer Brothers To Divest Direct Ship Business And Northlake, Texas Facility To TreeHouse Foods
TreeHouse Foods Reaffirms FY23 Outlook; Q4 Results Top View
Indian Shares Set To Extend Gains As Oil Prices Slump On US-Iran Peace Hopes
Thai Stock Market Due For Support On Tuesday
Indonesia Stock Market May Remain Rangebound On Tuesday
Rally May Stall For Hong Kong Stock Market
