OAK BROOK, IL
TreeHouse Foods Inc.’s reported a steady first quarter for 2015, but remains on its guard according to Chairman, President, and Chief Executive Officer Sam K. Reed.
"We delivered first quarter earnings in line with expectations, with 8 of our 14 legacy grocery categories posting solid margin growth,” Reed said in the report. “We continue to be highly focused on simplifying our business and growing profitability, and in most of our legacy categories, we are gaining momentum and generating higher net profits. However, this progress is only partially offsetting the profitability decline in single serve hot beverages, as the level of competition has intensified."
The company’s net income for the first quarter of 2015 reached a total of $17.9 million, a boost from last year’s $14.3 million.
Overall first quarter highlights included:
- Full year adjusted earnings per share guidance reduced to $3.40-$3.55.
"We continue to be pleased with the integration progress of our recent acquisitions,” Reed commented, stating that Protenergy Natural Foods continues to deliver results above TreeHouse’s initial expectations and that he expects Flagstone Foods' growth to ramp up significantly towards the latter half of this year.
