TreeHouse Foods collapses after lowering its annual sales forecast – 11/12/2024 at 5:15 p.m.

((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))

(Updates)

November 12 – ** Shares of food processing company TreeHouse Foods THS.N fall 24% to 15-year low of $28.04

**The stock is now down 17% and set for its worst day since November 2017 if losses continue

** Company reduces adjusted annual sales forecast range to $3.37 billion-$3.40 billion, from $3.71 billion-$3.78 billion

**TreeHouse states that guidance was reduced due to weakening consumer trends and the estimated impact of the voluntary recall of frozen grilling products in the third quarter

** The company posts 3rd quarter revenue of $839.1 million, versus $881.1 million forecast – LSEG data

**Adjusted Q4 net sales forecast of $900 million to $930 million, versus $966.7 million forecast

** Broker Stifel says weaker demand for TreeHouse’s private label offerings, reduced 2024 guidance and knock-on effect on 2025 estimates likely to weigh on shares

** As of Monday’s close, the stock was down about 10% year to date