TreeHouse Net Sales Grow in Q1

First quarter net sales at TreeHouse Foods were up more than 15% driven by favorable pricing to recover commodity inflation and service improvements in a majority of the company’s categories. 

For the quarter ended March 31, total sales were $894.8 million, up from sales of $772.6 million in the first quarter of 2022. Net income from continuing operations for the first quarter of 2023 was $19.2 million, compared to net loss from continuing operations of $13.8 million for the same period of the previous year.

"We see a long runway for growth at TreeHouse as we invest in opportunities to build capabilities around our strategic pillars — world class supply chain, category leadership, strategic customer partnerships and talent leader," said Steve Oakland, chairman, CEO, and president with TreeHouse. "We are off to a strong start in 2023, as we are benefiting from the actions we took to focus our portfolio on faster growing, higher margin private label snacking and beverage categories."

TreeHouse also reaffirmed its previously-issued full year 2023 guidance. The company expects net sales growth of 6% to 8% year-over-year, which represents a range of $3.66 to $3.73 billion. The company also projects adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $345 to $365 million, up approximately 24% year-over-year