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Treehouse Foods profit misses consensus by 32.6% in Q1

Treehouse Foods Inc. said its first-quarter normalized net income was 39 cents per share, compared with the S&P Capital IQ consensus estimate of 58 cents per share.

EPS fell 41.1% year over year from 67 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $17.1 million, a decline of 31.8% from $25.1 million in the prior-year period.

The normalized profit margin fell to 2.2% from 4.1% in the year-earlier period.

Total revenue climbed 26.5% on an annual basis to $783.1 million from $618.9 million, and total operating expenses climbed 30.0% year over year to $734.8 million from $565.1 million.

Reported net income rose 25.0% from the prior-year period to $17.9 million, or 41 cents per share, from $14.3 million, or 38 cents per share.