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Treehouse Foods Q2 profit falls YOY

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Treehouse Foods Q2 profit falls YOY

Treehouse Foods Inc. said its normalized net income for the second quarter amounted to 69 cents per share, compared with the S&P Capital IQ consensus estimate of 62 cents per share.

EPS fell 17.3% year over year from 84 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $30.3 million, a decrease of 4.9% from $31.8 million in the year-earlier period.

The normalized profit margin fell to 4.0% from 5.1% in the year-earlier period.

Total revenue rose 20.9% on an annual basis to $759.2 million from $628.0 million, and total operating expenses grew 23.2% from the prior-year period to $704.0 million from $571.4 million.

Reported net income increased 45.2% on an annual basis to $31.4 million, or 72 cents per share, from $21.7 million, or 57 cents per share.