TreeHouse Foods tumbles on surprise Q3 loss

TreeHouse Foods

07/11/2022 14:17

** Shares of private-label packaged food maker TreeHouse
Foods Inc  THS.N  down ~8% premarket 
    ** Stock will open at a more than one-month low of $44.54,
if losses hold 
    ** Company posts surprise loss and misses Q3 sales
estimates, hurt by a strong dollar, rising costs and divestiture
of a significant portion of its meal-preparation business
    ** THS posts Q3 loss per share of $1.61 compared to analysts
estimates of a profit of 16 cents - Refinitiv IBES data 
    ** Company's Q3 net sales rose 16.4% to $875 mln, missing
analysts' estimates of $1.29 bln
    ** THS forecast Q4 sales above estimates
    ** Up to Friday's close, stock had risen ~20% this year
 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))