News

TreeHouse Foods Reports Declining Profit in Q2, But Sales Rise

1 Mins read

TreeHouse Foods, a leading private-label food and drink maker, experienced a decrease in profit in the second quarter. However, despite declining volumes, the company managed to increase its sales by 4.1% due to higher prices.

In the same quarter last year, TreeHouse Foods reported a loss of $29.4 million, or 53 cents a share. This year, they posted a profit of $23.3 million, or 41 cents a share. Adjusted earnings, excluding one-time items, were in line with analyst forecasts at 42 cents a share.

Sales for the quarter reached $843.6 million, up from $810.2 million the previous year. Analysts had expected sales to reach $831.8 million.

The company attributed the growth in sales to the implementation of higher prices. However, they also noted a decline in volumes. TreeHouse Foods explained that this decline was mainly due to the fulfillment of certain customer orders earlier than planned in the first quarter, as well as shifting food and beverage consumption trends.

Despite a decrease in profit, TreeHouse Foods saw their shares rise by 1.9% to $53 in premarket trading.

Related posts
News

U.S. Stock Futures Rise as Inflation Gauge May Fall Below 4%

1 Mins read
U.S. stock futures are on the rise today in anticipation of new data that may reveal a decrease in an inflation gauge…
News

Kanabo Group Reports Narrowed Pretax Loss for First Half-Year

1 Mins read
Kanabo Group, a leading medical-cannabis company, has announced a substantial reduction in its pretax loss for the first half of the year….
News

Trump's Chances of Winning the 2024 Presidential Election on the Rise

1 Mins read
According to betting markets tracked by RealClearPolitics, Donald Trump’s chances of winning the 2024 presidential election have seen an improvement this week….

Leave a Reply

Your email address will not be published. Required fields are marked *

97 − = 89