TreeHouse reports Q3 adjusted EPS 57c, consensus 50c

Reports Q3 revenue $863.3M, consensus $954.22M. “We delivered year-over-year net sales and volume growth in the quarter and outperformed the broader private brand market in the retail channel, particularly in categories where we have depth,” said Steve Oakland, chairman, CEO, and president. “We’re particularly pleased with the 1% unit growth in our core retail business, despite a voluntary product recall and a discrete supply chain disruption late in the quarter. These factors combined with weaker co-manufacturing and food-away-from-home revenues and lower than anticipated consumption in select categories resulted in sales below expectations. Importantly, our TreeHouse team continues to drive supply chain and TMOS initiatives, to improve our network. We expanded adjusted gross margin sequentially by 70 basis points and generated a 13% year-over-year increase in adjusted EBITDA from continuing operations, in line with the high end of our guidance. We continue to see the strength of TreeHouse’s strategic positioning as a private brand powerhouse in higher-growth, higher-margin snacking and beverage categories.”