TreeHouse Foods set for worst day in over 6 years on weak FY sales view

TreeHouse Foods

16/02/2024 17:44

(Updates)
    ** TreeHouse Foods'  THS.N  shares fall as much as 16% to
near two-year low of $35.90
        ** Stock last down 15%, set for its worst day since Nov.
2017, if losses hold
  
    ** THS sees annual sales below estimates, on waning demand
and supply chain snags at one of its broth facilities and in the
pretzels and cookies segments
    ** Forecasts FY net sales in the range of $3.43 bln to $3.50
bln, below ests of $3.56 bln - LSEG
    ** Also misses Q4 sales ests; however, tops adj. profit
expectations on easing freight and commodity costs
    ** Earns Q4 adj. EPS of 77 cents vs expectations of 73 cents
    ** THS stock down 16.06% in 2023

 (Reporting by Annett Mary Manoj in Bengaluru)
 ((AnnettMary.Manoj@thomsonreuters.com))