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Mar 31, 2020
TreeHouse Q1 2020 Earnings Report
TreeHouse Foods' financial performance exceeded expectations due to increased demand related to COVID-19 and successful business transformation.
Key Takeaways
TreeHouse Foods reported first-quarter results above its guidance range, driven by the company's ability to service significant demand related to COVID-19. Adjusted EPS was $0.37, and revenue reached $1.08 billion. The company reaffirmed its full-year 2020 guidance.
Adjusted EPS from continuing operations was $0.37, exceeding the company's guidance and 12% above Q1 2019.
Net sales for the first quarter of 2020 totaled $1,084.9 million, a 1.7% increase compared to the same period last year.
Organic net sales increased by 2.6% due to favorable volume/mix from increased demand related to the COVID-19 pandemic.
TreeHouse reaffirmed its full-year 2020 guidance for adjusted EPS of $2.40 to $2.65, net sales of $4.10 to $4.40 billion, and free cash flow of $250 to $300 million.
TreeHouse
TreeHouse
Forward Guidance
TreeHouse reaffirmed its full year 2020 guidance for adjusted earnings from continuing operations of $2.40 to $2.65 per diluted share, net sales of $4.10 to $4.40 billion, and free cash flow of $250 to $300 million. For the second quarter, the company anticipates adjusted earnings per diluted share from continuing operations of $0.40 to $0.50, net sales between $1.05 to $1.09 billion, and adjusted EBITDA from continuing operations of $105 to $120 million.