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Dec 31, 2023
TreeHouse Q4 2023 Earnings Report
TreeHouse Foods reported fourth quarter and full year results, with Q4 in line with guidance and FY23 showing strong improvement.
Key Takeaways
TreeHouse Foods reported Q4 2023 results with net sales of $910.8 million and net income from continuing operations of $6.4 million. The company delivered improvements in fiscal year 2023, with net sales increasing by 4.1% and net income from continuing operations increasing by $68.2 million versus the prior year. The company issued fiscal year 2024 outlook for net sales of $3.43 to $3.50 billion, adjusted EBITDA of $360 to $390 million, and free cash flow of at least $130 million.
Net sales for Q4 2023 totaled $910.8 million, a decrease of 4.8% compared to the same period last year.
Net income from continuing operations for Q4 2023 was $6.4 million, compared to $39.7 million in Q4 2022.
Adjusted EBITDA from continuing operations was $108.4 million in Q4 2023, compared to $118.5 million in Q4 2022.
The Company completed the repurchase of approximately $50 million of shares during the fourth quarter; share repurchases totaled approximately $100 million during full year 2023.
Forward Guidance
TreeHouse issued the following outlook and guidance for fiscal year 2024: Net sales are expected in the range of $3.43 to $3.50 billion, adjusted EBITDA from continuing operations is expected in the range of $360 to $390 million, and the Company expects free cash flow of at least $130 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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