Sales and Profit Surge, Shares Soar
TreeHouse Foods, a leading private-label food manufacturer, has experienced significant growth in the third quarter, driving its stock price up by 7.7% in premarket trading. The company's shares had previously fallen 14% year-to-date.
Impressive Sales Figures
Sales for the quarter reached $863.3 million, marking a 3.6% increase. When factoring in the recent sale of its snack bars business, total sales surged to $906.6 million. This robust performance showcases TreeHouse's ability to deliver exceptional results.
Profitability on the Rise
In addition to the strong sales figures, TreeHouse Foods reported a profit of $7.1 million, or 13 cents per share. This is a significant improvement from the net loss of $90.5 million, or $1.61 per share, recorded in the same quarter last year. The previous loss resulted from TreeHouse's strategic divestiture of numerous assets related to its meal preparation business.
Steady Growth in Core Retail Business
TreeHouse's impressive performance was supported by a 1% increase in case units within its core retail business. Furthermore, the company outperformed the broader market within the retail channel, solidifying its position as an industry leader.
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