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

Strong Ethereum Accumulation Detected: LTH Buying Heavy During June Consolidation | Ethereum Ethereum Accumulation | CryptoRank.io

2 Mins read
Ethereum is trading above $2,400 after enduring several days of volatility and uncertainty. The price has managed to stabilize despite sharp intraday…
News

Economic Calendar for the Week of June 29th

1 Mins read
Notable earnings: 🦗Trending NowBest Forex Trading Robots To Invest In 2022 U.S. economic events: Chicago PMI, Fed Speeches: Bostic, Goolsbee, Dallas Fed…
News

$TRUMP and other meme coins won't be protected by SEC, Commissioner Hester Peirce says

3 Mins read
LAS VEGAS — Now that the SEC is out of the business of regulating meme coins, investors shouldn’t expect any guidance on…

Leave a Reply

Your email address will not be published.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

− 3 = 1