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