TreeHouse Q1 2024 Earnings Report
Key Takeaways
TreeHouse Foods reported net sales of $820.7 million, exceeding their guidance range, but experienced a net loss from continuing operations of $11.7 million. Adjusted EBITDA was $46.0 million, within the guided range. The company reaffirmed its 2024 annual guidance and repurchased approximately $44 million of company shares during the quarter.
Net sales exceeded guidance at $820.7 million.
Net loss from continuing operations was $(11.7) million.
Adjusted EBITDA of $46.0 million was within guidance.
Company reaffirmed 2024 annual guidance.
TreeHouse
TreeHouse
Forward Guidance
TreeHouse reaffirmed its full year 2024 guidance with net sales expected in the range of $3.43 to $3.50 billion and adjusted EBITDA from continuing operations expected in the range of $360 to $390 million. The company expects free cash flow of at least $130 million.
Positive Outlook
- Net sales are expected in the range of $3.43 to $3.50 billion.
- Organic volume and mix are expected to be slightly positive for the year.
- Adjusted EBITDA from continuing operations is expected in the range of $360 to $390 million.
- Net interest expense is expected in the range of $56 to $62 million.
- The Company expects free cash flow of at least $130 million.
Challenges Ahead
- Second quarter net sales are expected in a range of $770 to $800 million, down approximately 2% at the midpoint.
- Organic volume and mix are expected to be down low-single digits.
- Pricing is also expected to be down low-single digits.
- Second quarter adjusted EBITDA from continuing operations is expected in a range of $55 to $65 million.
- The Company expects a sequential improvement in adjusted EBITDA of approximately $45 to $50 million from the second quarter mid-point into the third quarter, and a sequential improvement of similar magnitude from the third quarter into the fourth quarter.