OAK BROOKS, IL
TreeHouse Foods released its Q2 financial report on August 7th, 2014, beating analysts’ expectations. Net sales for the second quarter were $628 million compared to $526.3 million last year, an increase of 19.3%.
"The strength of our second quarter results is a testament to our well-executed private label strategy and our commitment to providing customers with a portfolio of products and services that consumers demand," said Sam K. Reed, Chairman, President and Chief Executive Officer. "We showed very strong growth in our Retail Grocery segment and delivered positive sales growth in pickles, salad dressings and beverages, as we posted triple-digit year-over-year growth in our single serve coffee business."
Highlights from TreeHouse’s Q2 report are:
Looking forward, the Company raised its full year 2014 adjusted earnings per share guidance by $0.10 to $0.15 to a range of $3.60 to $3.75, reflecting the accretion from the recently completed acquisitions of Flagstone Foods and Protenergy Natural Foods. To read more about TreeHouse’s $860 million acquisition of Flagstone Foods, click here.
Reed added, "We are pleased that our legacy businesses continue to perform in line with our original expectations, and are delighted to increase our full year estimates to include our most recent additions – Protenergy Natural Foods and Flagstone Foods. We are looking forward to delivering another year of record sales and earnings. Given our strong cash flow and our prudent capital structure, we will continue to pursue new branches for our TreeHouse in the quarters to come."
Stocks received a boost with the release of this information rising from $76.07 per share on August 7th at 9:30 am ET to $78.22 per share on August 8th at 3:11 pm ET.
Congratulations on the strong quarter, TreeHouse!