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TreeHouse Details 1.2B Profits; Steve Oakland and Patrick O'Donnell Comment

TreeHouse Details 1.2B Profits; Steve Oakland and Patrick O'Donnell Comment


OAK BROOK, IL
Tuesday, August 9th, 2022

The second quarter of 2022 seems to have been a successful one for TreeHouse Foods. The supplier recently reported its results for the quarter, outlining a 19.4 percent increase to $1.20 billion in net sales—a boost of more than $194 million compared to the second quarter of 2021.

Steve Oakland, Chief Executive Officer and President, TreeHouse Foods"I'm incredibly proud of our TreeHouse team as we delivered strong top-line results, reflecting the impact of our pricing and our ability to capture incremental volume in Snacking & Beverages," said Steve Oakland, Chief Executive Officer and President. "The value proposition of private label is becoming increasingly important as consumers navigate this inflationary environment. In addition, the breadth of the retail landscape, improved quality and assortment, and our customers' strategic commitment to private label are driving trial and share gains. Our unwavering focus on the customer over the last several years positions us well to build on this momentum to drive growth and profitability."

Other metrics outlined in the report include:

  • Net sales for the second quarter of 2022 totaled $1,197.6 million compared to $1,003.2 million for the same period last year
  • Adjusted EBITDA from continuing operations was $66.5 million or 5.6 percent for the second quarter of 2022, which improved by 60 basis points sequentially, in line with guidance
  • TreeHouse raises its full year 2022 net sales guidance to mid-to-high teens growth year-over-year, and reaffirms expectations for adjusted EBITDA2 in the range of $385 to $415 million

TreeHouse Foods announced its second quarter 2022 results, outlining a 19.4 percent increase to $1.20 billion in net sales—a boost of more than $194 million compared to the second quarter of 2021

Patrick O'Donnell, Interim Chief Financial Officer and Chief Accounting Officer, commented on the news as well.

Patrick O'Donnell, Chief Accounting Officer and Interim Chief Financial Officer, TreeHouse Foods"Our second quarter performance was very much in line with expectations," said O'Donnell. "We are encouraged by robust demand for private label food and beverage, and we are working diligently to improve service and execute pricing to recover inflation. Despite ongoing challenges related to labor and materials availability, we continue to make gradual progress toward improving profitability and believe we are on track to deliver our full-year guidance."

Cheers to a successful quarter!

TreeHouse Foods
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