TreeHouse Foods plunges after annual sales forecast cut

TreeHouse Foods

12/11/2024 14:18

** Food processing company TreeHouse Foods'  THS.N  shares fall
~15% to $31.58 premarket
** Company cuts annual adj sales forecast range to $3.37
bln-$3.40 bln from $3.71 bln-$3.78 bln
    ** TreeHouse says forecast cut due to weakening consumption
trends and estimated impact from voluntary recall of frozen
griddle products in Q3
    ** Company posts Q3 revenue of $839.1 mln vs est $881.1 mln
- LSEG
    ** Forecasts Q4 adj net sales between $900 mln and $930 mln
vs est $966.7 mln
    ** As of Monday's close, stock down ~10% YTD

(Reporting by Neil J Kanatt in Bengaluru)
((Neil.JKanatt@thomsonreuters.com))