TreeHouse Foods, Inc. (THS) reported a net loss from continuing operations of $16.7 million for the second quarter, contrasting with a net income of $22.4 million from the same quarter last year. The loss per share from continuing operations was $0.32, down from a profit of $0.39 per share. The adjusted earnings per share for the quarter were $0.29, compared to $0.43 in the previous year. According to an average estimate from eight analysts surveyed by Thomson Reuters, the company was expected to report earnings per share of $0.13 for the quarter, with these estimates typically excluding special items.
The company's net sales for the second quarter amounted to $788.5 million, a 1.9% decrease from $803.5 million in the same period last year. Analysts had, on average, projected revenues of $783.65 million.
Looking ahead, TreeHouse Foods reaffirmed its 2024 financial outlook, anticipating net sales between $3.43 billion and $3.50 billion, and a free cash flow of at least $130 million. The company also narrowed its adjusted EBITDA forecast to a range of $360 million to $380 million.
