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Thursday, April 18, 2024
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Why Food & Beverage Company TreeHouse Foods' Shares Are Falling Today

Treehouse Foods Inc (NYSE: THS) shares are trading lower by around 8% after the company reported Q3 FY23 results.

Sales from continuing operations grew 3.6% Y/Y to $863.3 million, missing the consensus of $947.3 million. 

Adjusted net sales (including the divested Snack Bars business) stood at $906.6 million, below the guidance range of $950 million to $970 million, adversely impacted by around $15 million due to a voluntary product recall and a discrete supply chain disruption late in the quarter.

Total volume/mix (excluding acquisitions) declined 3.4% Y/Y on weakness in food-away-from-home and co-manufacturing business.

Adjusted EBITDA from continuing operations increased to $89.9 ...

Full story available on Benzinga.com


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