TreeHouse income down 11% in third quarter
November 5, 2010
WESTCHESTER, ILL. — Third-quarter earnings at TreeHouse Foods, Inc. fell 11% on costs associated with the acquisitions of Sturm and S.T. Specialty Foods and other various charges.
For the quarter ended Sept. 30, TreeHouse posted income of $24,867,000, equal to 70c per share on the common stock, which compared with income of $28,064,000, or 87c per share, during the same quarter of the previous year. Sales for the quarter were $464,242,000, up 23% from $378,865,000.
“Overall it was an excellent quarter, and we delivered solid unit growth in both our legacy businesses as well as our recent acquisitions,” said Sam K. Reed, chairman and chief executive officer. “We are also very pleased with our ongoing cost control efforts as improvements in margins and operating costs led to our strong cash flow in the quarter.”
For the nine months ended Sept. 30, TreeHouse income was $62,838,000, or $1.80 per share, up 6% from $59,221,000, or $1.86 per share, during the same period of the previous year. The company had sales of $1,307,561,000, up 18% from $1,106,866,000 during the same period of the previous year.