THS - Why Food Processing Firm TreeHouse Foods Shares Are Diving Today | Benzinga
TreeHouse Foods Inc (NYSE:THS) shares are trading lower after the company’s first-quarter revenue declined 3.9% and the adjusted EPS missed the consensus.
The company reported a first-quarter FY24 sales of $820.70 million, beating the analyst consensus estimate of $797.18 million.
The revenue decrease was primarily driven by unfavorable volume/mix due to planned distribution exits primarily in coffee and in-store bakery categories, as well as the restart of one of the broth facilities, which contributed to approximately half of the volume decline.
Gross margin for the quarter contracted 440 basis points Y/Y to 13.6%. Adjusted EBITDA from continuing ...