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Mar 31, 2023
TreeHouse Q1 2023 Earnings Report
First quarter exceeded expectations, demonstrating improved execution across more focused portfolio.
Key Takeaways
TreeHouse Foods reported a strong start to 2023, with net sales increasing by 15.8% compared to the same period in 2022. The company's focus on faster-growing, higher-margin private label snacking and beverage categories drove revenue and profit above the guidance range for the quarter. TreeHouse reaffirmed its full year 2023 guidance of net sales growth of 6% to 8% year-over-year and adjusted EBITDA of $345 to $365 million.
Net sales increased 15.8% compared to the same period in 2022.
Earnings per diluted share from continuing operations was $0.34 compared to $(0.25) for the same period in 2022.
Adjusted earnings per diluted share from continuing operations was $0.68 compared to $(0.16) for the same period in 2022.
TreeHouse reaffirmed its full year 2023 guidance of net sales growth of 6% to 8% year-over-year and adjusted EBITDA of $345 to $365 million.
Forward Guidance
TreeHouse reaffirmed its previously-issued full year 2023 guidance: net sales growth of 6% to 8% year-over-year, which represents a range of $3.66 to $3.73 billion, and adjusted EBITDA of $345 to $365 million, up approximately 24% year-over-year at the midpoint.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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