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TreeHouse Foods Third Quarter Profit Declines

November 8, 2010
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TreeHouse Food Inc., third quarter earnings were down $3.2 million from their 2009 earning of $28.1 million.


 

TreeHouse Food Inc., third quarter earnings were down $3.2 million from their 2009 earning of $28.1 million.


 The company reported a profit of $24.9million, or 68 cents a share, down from $28.1 million or 85 cents a share, a year earlier. Excluding items such as derivatives impacts and the 2009 insurance reimbursement, earning rose to 69 cents from 54 cents. Revenue increased from 23 percent to $464.2 million but was down 0.2 percent excluding Sturm Foods.

“Overall it was an excellent quarter as we delivered solid unit growth in both our legacy businesses as we as our recent acquisition, “says Sam K. Reed, chairman and CEO.

The private label sector has faced challenges from branded food companies using heavy marketing tactics.


 TreeHouse’s North American retail business, it’s largest by revenue sales increased 33.6 percent but were up to 0.8 percent excluding the acquisition of Thurm Foods. Food service segment sales increased 5.5 percent as market conditions began to improve, but were off 0.9 percent minus Sturm Foods.

TreeHouse Foods is a company that supplies products and services to private label food service industries. Their companies include Bay Valley, E.D Smith and Sturm Foods.

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