TreeHouse Foods Reaffirms Preliminary Second Quarter Net Sales and Earnings
OAK BROOK, Ill., July 15, 2014
OAK BROOK, Ill., July 15, 2014 /PRNewswire/ -- TreeHouse Foods, Inc. (NYSE:
THS) announced today that preliminary net sales for the second quarter of 2014
are in line with the Company's expectations of approximately $625 million,
which represents an increase of over 18% from the same period last year. The
anticipated increase is primarily due to acquisitions, which should contribute
just over 14% of the increase. In addition, preliminary results indicate a
positive volume/mix of over 5% for the quarter and a nearly 1% decline
resulting from the impact of unfavorable foreign exchange rates. In
TreeHouse's North American Retail Grocery segment, the Company estimates
positive volume/mix of approximately 6%, as increases in beverages, pickles
and salad dressings product categories resulted in year over year growth.
Total adjusted earnings are expected to be very close to consensus estimates
for the quarter. Such updated net sales, volume/mix information and earnings
are estimates and actual results may differ.
"We are pleased to reaffirm our June 30th comments on the top line sales
achievements in the second quarter," said Sam K. Reed, Chairman, President and
Chief Executive Officer. "We are especially proud of the sales growth in our
Retail Grocery channel as this reflects the joint efforts of our sales,
marketing and product development teams to bring great product solutions to
our grocery customers."
ABOUT TREEHOUSE FOODS
TreeHouse is a food manufacturer servicing primarily the retail grocery and
foodservice distribution channels. Our products include non-dairy powdered
creamers and sweeteners; condensed, ready to serve and powdered soups;
refrigerated and shelf stable salad dressings and sauces; powdered drink
mixes; single serve hot beverages; specialty teas; hot and cold cereals;
macaroni and cheese, skillet dinners, and other value-added side dishes and
salads; salsa and Mexican sauces; jams and pie fillings; pickles and related
products; aseptic sauces; and liquid non-dairy creamer. We believe we are the
largest manufacturer of pickles and non-dairy powdered creamer in the United
States, and the largest manufacturer of private label salad dressings,
powdered drink mixes, and instant hot cereals in the United States and Canada,
based on sales volume.
Additional information, including TreeHouse's most recent statements on Forms
10-Q and 10-K, may be found at TreeHouse Foods' website,
This press release contains "forward-looking statements." Forward-looking
statements include all statements that do not relate solely to historical or
current facts, and can generally be identified by the use of words such as
"may," "should," "could," "expects," "seek to," "anticipates," "plans,"
"believes," "estimates," "intends," "predicts," "projects," "potential" or
"continue" or the negative of such terms and other comparable terminology.
These statements are only predictions. The outcome of the events described in
these forward-looking statements is subject to known and unknown risks,
uncertainties and other factors that may cause TreeHouse or its industry's
actual results, levels of activity, performance or achievements to be
materially different from any future results, levels of activity, performance
or achievements expressed or implied by these forward-looking statements.
TreeHouse's Form 10-K for the year ended December 31, 2013 and other filings
with the SEC, discuss some of the factors that could contribute to these
differences. You are cautioned not to unduly rely on such forward-looking
statements, which speak only as of the date made, when evaluating the
information presented in this press release. TreeHouse expressly disclaims
any obligation or undertaking to disseminate any updates or revisions to any
forward-looking statement contained herein, to reflect any change in its
expectations with regard thereto, or any other change in events, conditions or
circumstances on which any statement is based.
SOURCE TreeHouse Foods, Inc.
Contact: Investor Relations, 708.483.1300 Ext 1331
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