TreeHouse Foods, Inc. delivers third quarter 2018 results

TreeHouse Foods, Inc., reported third quarter GAAP earnings per fully diluted share of $0.10 compared to a GAAP earnings of $0.50 reported for the third quarter of 2017. The Company reported adjusted earnings per fully diluted share1 of $0.62 in the third quarter of 2018 compared to adjusted earnings per share of $0.67 for the third quarter of 2017.

“Our Q3 results represent the third quarter in a row of delivering upon our financial commitments,” said Steve Oakland, Chief Executive Officer and President. “I continue to be impressed by the effort our organization is putting forth to deliver sequential operational progress and improve our business for the long-term. Our TreeHouse 2020 and Structure to Win (SG&A) initiatives and goals, which aim to properly align our cost structure across the business, remain on track as we continue the process of defining how we can best position ourselves to capitalize on private label growth across the food and beverage landscape.”

“I’m pleased with the quality of our results this quarter, as we delivered $0.62 in adjusted EPS, despite incurring higher expenses related to the hurricanes,” said Matthew Foulston, EVP and Chief Financial Officer. “Revenue decline in the quarter of 7.5% (excluding SKU rationalization impact of 2.3% and McCann’s divestiture of 0.2%) was slightly greater than anticipated, as favorable pricing of 1.7% was offset by volume/mix declines primarily within the Snacks and Meals divisions. Pricing fully covered higher commodity, packaging, and freight costs, and through the end of the third quarter we have more than achieved our full year Structure to Win goal of $30 million in savings.”

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