TreeHouse Foods Reaffirms FY23 Outlook; Q4 Results Top View
(RTTNews) - While reporting financial results for the first quarter on Monday, food and beverage maker TreeHouse Foods, Inc. (THS) reaffirmed its net sales growth and adjusted EBITDA guidance for the full-year 2023.
For fiscal 2023, the company continues to project 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 $345 million to $365 million.
On average, seven analysts polled by Thomson Reuters expect the company to report earnings of $2.50 per share on revenues of $3.69 billion for the year. Analysts' estimates typically exclude special items.
For the second quarter, the company expects net sales between $810 million and $840 million and adjusted EBITDA in a range of $65 million to $80 million. Analysts expect earnings of $0.43 per share on revenues of $871.67 billion for the quarter.
For the first quarter, the company reported net income of $15.2 million or $0.27 per share, compared to a net loss of $3.0 million or $0.05 per share in the prior-year quarter. Net income from continuing operations was $0.34 per share, compared to a net loss from continuing operations of $0.25 per share last year.
Excluding items, adjusted earnings from continuing operations was $0.69 per share, compared to adjusted loss from continuing operations of $0.16 per share in the year-ago quarter.
Net sales for the quarter grew 15.8 percent to $894.8 million from $772.6 million in the same quarter last year.
The Street was looking for earnings of $0.40 per share on revenues of $850.84 billion for the quarter.
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