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TreeHouse Foods Reveals 83M Gain in First Quarter 2022 Results; Steve Oakland and Bill Kelley Discuss

TreeHouse Foods Reveals 83M Gain in First Quarter 2022 Results; Steve Oakland and Bill Kelley Discuss


OAK BROOK, IL
Tuesday, May 17th, 2022

A significant jump in net sales is at the forefront of TreeHouse Foods’ recent First Quarter 2022 results. The supplier reports net sales of $1.14 billion, which totaled $1,141.0 million compared to $1,057.3 million for the same period last year, an increase of $83.7 million or 7.9 percent.

Steve Oakland, President and Chief Executive Officer, TreeHouse Foods"The private label proposition is becoming increasingly important to our customers and their consumers as they manage a higher cost macro environment and seek better value," said Steve Oakland, Chief Executive Officer and President. "This has translated into private label consumption growth and unit share gains in measured channels, and in the first quarter, we outpaced the broader private label market in eight of our 10 largest categories."

Highlights from the report include:

  • Earnings (loss) per diluted share from continuing operations was $(0.05) compared to $0.01 for the same period in 2021
  • Adjusted earnings per diluted share from continuing operations was $(0.15) compared to $0.36 for the same period in 2021
  • TreeHouse reaffirmed its full year 2022 guidance expectations of net sales growth of at least 11 percent year-over-year and adjusted EBITDA of $385 to $415 million

In TreeHouse Foods’ recent First Quarter 2022 results, the supplier reported net sales of $1.14 billion, which totaled $1,141.0 million compared to $1,057.3 million for the same period last year

According to the report, the net sales increase was primarily driven by favorable pricing to partially recover commodity and freight cost inflation. Oakland stated that the commercial teams are working collaboratively with customers to successfully implement pricing to recover inflation, and its targeted labor and supply initiatives are delivering slow, steady improvement.

Bill Kelley, Executive Vice President and Chief Financial Officer, Treehouse Foods"I'm proud of our strong execution in this dynamic environment," said Bill Kelley, Executive Vice President and Chief Financial Officer. "We delivered strong first quarter net sales growth of 7.9 percent; our pricing initiatives to recover inflation were successful and contributed low-double digit growth as expected; and our progress around improving service enabled us to capture incremental private label volume. Our first quarter performance positions us to be on track to deliver improved profitability in 2022, and we are reaffirming our full year guidance."

For more financial updates in the specialty food industry, you know where to find us.

TreeHouse Foods
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