TreeHouse Foods drops on downbeat annual sales forecast

TreeHouse Foods

13/02/2023 15:00

** Shares of food processing company TreeHouse Foods Inc
 THS.N  fall as much as 7.5% to near two-month low of $44.71
    ** Stock last down ~6%, on course for worst day since Sept
2022 if losses hold
    ** Forecasts full-year net sales growth of 6% to 8%, below
analysts' estimate of 8.5% - Refinitiv; cites inflationary
pressures to persist in 2023   
    ** Reports Q4 net sales of $996.2 mln, missing analysts'
estimate of $1.02 bln, hurt by a 2% fall in volumes and supply
chain disruption
    ** Q4 adj. profit of 98 cents per share beat analysts'
estimate of 92 cents 
    ** Forecasts Q1 net sales above Wall Street estimate, helped
by price hikes
    ** Stock rose ~35% in the past 12 months, compared with ~2%
increase in the S&P Composite 1500 Food Products index
 .SPCOMFDPR 
 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))