Welcome to our dedicated page for Treehouse Foods news (Ticker: THS), a resource for investors and traders seeking the latest updates and insights on Treehouse Foods stock.
TreeHouse Foods, Inc. was a public North American private brands snacking and beverage manufacturer whose news centered on earnings releases, operating performance, customer service, category trends and portfolio actions in private-label food and beverage categories.
Company updates also document the completed acquisition by Investindustrial, under which TreeHouse Foods became a wholly owned subsidiary and former shareholders received cash consideration and a contingent value right. Related coverage includes shareholder voting, material agreements, capital-structure disclosures and changes to public-company status.
TreeHouse Foods, Inc. (NYSE: THS) will host a webcast for its Fourth Quarter earnings results on February 13, 2023, at 8:30 a.m. ET. The earnings release will be available before market opening on the same day. The event aims to discuss the company’s performance and outlook for 2023.
TreeHouse is a leading North American private label food and beverage manufacturer focused on customer engagement and growth through operational efficiencies.
Sun-Maid Growers of California has appointed Steve Loftus as President and Chief Operating Officer. Loftus, a seasoned professional with 15 years in the food industry, will oversee all operational areas, enhancing the company's growth strategy. Previously, he held significant roles at TreeHouse Foods and Kraft Heinz, leading units with revenues around $1 billion. This leadership transition comes after a robust sales year and amid ongoing integration of Plum PBC, marking an important step in Sun-Maid's evolution.
TreeHouse Foods, Inc. (NYSE: THS) released its 2022 ESG Report, highlighting progress made in 2021. The report outlines a 4% reduction in greenhouse gas emissions and a 9% decrease in total waste. Social initiatives include a $7.9 million donation to charities and an ongoing commitment to employee engagement. The company also completed a significant divestiture on October 3, 2022, streamlining its focus on higher-margin snacking and beverage categories. CEO Steve Oakland emphasized ongoing commitment to ESG goals and stakeholder value creation.
TreeHouse Foods reported a strong third quarter with net sales of $1,299.4 million, an 18% increase. Although a net loss of $90.5 million was recorded due to divestiture-related expenses, adjusted EBITDA improved to $89.4 million. The divestiture of its Meal Preparation business enables a $500 million debt reduction, enhancing financial stability. Q4 guidance suggests net sales growth of 22-24% year-over-year and an expected adjusted EBITDA margin of 10.5-12%. Continued demand for private label products is anticipated to drive future growth.
TreeHouse Foods (NYSE: THS) announced an audio webcast for its third quarter earnings results conference call on November 7, 2022, at 8:30 a.m. ET. CEO Steve Oakland and Interim CFO Patrick O'Donnell will discuss earnings and the outlook for the remainder of the year. The earnings release will be available before market open the same day, with slides posted at 8:15 a.m. ET. TreeHouse Foods is a leading manufacturer of private label foods and beverages in North America, operating in 18 product categories across 26 facilities.
TreeHouse Foods (NYSE: THS) announced the successful sale of a significant part of its Meal Preparation business to Investindustrial for $950 million. This strategic divestiture, which results in the creation of Winland Foods, Inc., aims to streamline operations and enhance growth by focusing on higher-margin categories like private label Snacking and Beverage. CEO Steve Oakland emphasized the positive demand trends expected to benefit shareholders in the long run. The transition was facilitated by collaboration with Investindustrial and financial advisers.
TreeHouse Foods, Inc. (NYSE: THS) is recalling one lot of its Tuscan Garden Restaurant Style Italian Dressing due to potential contamination with Asian Sesame Dressing. The latter contains undeclared allergens, soy and wheat, which pose a serious risk for individuals with allergies. This product was distributed nationwide through Aldi between August 23, 2022, and September 23, 2022, with a UPC of 4099100074871 and a 'best if used by' date of August 10, 2023. No allergic reactions have been reported, but customers are advised to return the product for a full refund.
TreeHouse Foods (NYSE: THS) announced the sale of a significant portion of its Meal Preparation business to Investindustrial for $950 million. This divestiture, valued at 13.6x 2022E adjusted EBITDA, aims to simplify operations and enhance focus on the company's higher-margin Snacking and Beverages divisions. The transaction consists of $530 million in cash and $420 million in secured debt, expected to close in Q4 2022. The move is projected to strengthen TreeHouse's balance sheet and improve operational execution.
An investment company indirectly held by Investindustrial VII L.P. has agreed to acquire significant portions of the meal preparation business from TreeHouse Foods (NYSE: THS). This business, generating approximately $1.6 billion in revenue in 2022, includes various private label food products. The acquisition is expected to finalize in Q4, subject to regulatory approvals. With the transaction, Investindustrial aims to enhance its global reach in the food sector, positioning itself as a leading supplier of private label products.
TreeHouse Foods (THS) reported a net sales increase of 19.4% to $1.20 billion in Q2 2022, primarily driven by 17.7% pricing and 2.1% volume growth. The Snacking & Beverages division saw 9.0% volume/mix growth, fueled by rising private label demand. However, the company experienced a net loss of $30.6 million, significantly higher than the $5.2 million loss in Q2 2021. Adjusted EBITDA dropped by 28.2% to $66.5 million. TreeHouse raised its fiscal 2022 net sales growth guidance to mid-to-high teens but reaffirmed adjusted EBITDA expectations of $385-$415 million.