TreeHouse Foods, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 16, 2024 at 11:55 am
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TreeHouse Foods, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 910.8 million compared to USD 956.7 million a year ago. Net income was USD 7.5 million compared to net loss of USD 23.4 million a year ago. Basic earnings per share from continuing operations was USD 0.12 compared to USD 0.71 a year ago. Diluted earnings per share from continuing operations was USD 0.12 compared to USD 0.7 a year ago. Basic earnings per share was USD 0.14 compared to basic loss per share of USD 0.42 a year ago. Diluted earnings per share was USD 0.14 compared to diluted loss per share of USD 0.41 a year ago.
For the full year, the company reported sales was USD 3,431.6 million compared to USD 3,297.1 million a year ago. Net income was USD 53.1 million compared to net loss of USD 146.3 million a year ago. Basic earnings per share from continuing operations was USD 1.06 compared to basic loss per share from continuing operations of USD 0.16 a year ago. Diluted earnings per share from continuing operations was USD 1.05 compared to diluted loss per share from continuing operations of USD 0.16 a year ago. Basic earnings per share was USD 0.95 compared to basic loss per share of USD 2.61 a year ago. Diluted earnings per share was USD 0.94 compared to diluted loss per share of USD 2.61 a year ago.
TreeHouse Foods, Inc. is a manufacturer and distributor of private label foods and beverages in North America. The Company's portfolio includes beverage and drink mix offerings, which include non-dairy creamer, coffee, broths/stocks, powdered beverages and other blends, tea, and ready-to-drink-beverages, and grocery offerings, which include pickles, refrigerated dough, hot cereal, and cheese and pudding. The Company sells its products to retail, co- manufacturing, and food-away-from-home customers in shelf-stable, refrigerated, and frozen formats. It also offers its customers a range of value and nutritional solutions, including natural, organic, and gluten-free products. It owns pickle branded assets, including Bick's pickles, Habitant pickled beets, Woodman's horseradish and McLarens pickled onion brands. The Company sells its products through various distribution channels, including retailers, food service distributors, co-manufacturers, and industrial and export channels.