TreeHouse Foods Narrows 2018 Adj. Earnings Guidance - Quick Facts

(RTTNews) - TreeHouse Foods, Inc. (THS) narrowed its 2018 guidance for adjusted earnings per fully diluted share to $2.05 to $2.25 and anticipates fourth quarter earnings in the range of $0.88 to $1.08 per fully diluted share. TreeHouse noted that while pricing related to Canadian tariffs is in place and will be reflected in the fourth quarter results, the company does expect some ongoing headwind in the fourth quarter related to the impact of the hurricanes on both the operations and crop sourcing.

The company reported adjusted earnings per fully diluted share of $0.62 in the third quarter of 2018 compared to adjusted earnings per share of $0.67 for the third quarter of 2017. Net sales decreased 10.0% compared to the same period last year; a decrease of 7.5% compared to the same period last year, excluding the impact of SKU rationalization and the McCann's divestiture.

Matthew Foulston, CFO, said: "Revenue decline in the quarter of 7.5% (excluding SKU rationalization impact of 2.3% and McCann's divestiture of 0.2%) was slightly greater than anticipated, as favorable pricing of 1.7% was offset by volume/mix declines primarily within the Snacks and Meals divisions. Pricing fully covered higher commodity, packaging, and freight costs, and through the end of the third quarter we have more than achieved our full year Structure to Win goal of $30 million in savings."