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Jun 30, 2021
TreeHouse Q2 2021 Earnings Report
TreeHouse Foods reported second quarter results, navigated unprecedented operating environment, completed the sale of the Ready-to-eat Cereal business, and repurchased shares.
Key Takeaways
TreeHouse Foods reported a decrease in revenue to $1.00 billion compared to $1.04 billion for the same period in 2020. The company reported a GAAP loss per diluted share from continuing operations of $(0.09) compared to $(0.05) for the same period in 2020. Adjusted earnings per diluted share from continuing operations was $0.26 compared to $0.58 for the same period in 2020.
Revenue of $1.00 billion compared to $1.04 billion for the same period in 2020.
Loss per diluted share from continuing operations was $(0.09) compared to $(0.05) for the same period in 2020.
Adjusted earnings per diluted share from continuing operations was $0.26 compared to $0.58 for the same period in 2020.
Completed $25 million in share repurchase in Q2
Forward Guidance
TreeHouse revised its full year 2021 guidance ranges for adjusted earnings per diluted share from continuing operations of $2.00 to $2.50, reported net sales between $4.20 to $4.45 billion, and free cash flow of $250 - $300 million. For the third quarter, TreeHouse is providing guidance for adjusted earnings per diluted share from continuing operations of $0.45 - $0.60 and reported net sales between $1.05 and $1.16 billion.
Positive Outlook
- Ongoing retailer support for private label.
- Strategic investments being made in the business.
- Meaningful growth and shareholder value creation opportunities ahead.
- Focused on accelerating strategic journey to build depth and competitive advantage in growth categories.
- Well positioned to capitalize on the opportunities across the private label landscape, while maintaining a balanced capital allocation approach of investing in the business, maintaining a strong balance sheet and returning capital to shareholders.
Challenges Ahead
- Reduction was primarily driven by the second quarter revenue shortfall.
- Continued uncertainty within the macroeconomic environment and its impact on consumer purchasing behavior.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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