TreeHouse Foods, Inc. Provides Earnings Guidance for the Fourth Quarter, Full Year of 2015 and Full Year of 2016
January 14, 2016 at 04:37 pm EST
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TreeHouse Foods, Inc. provided earnings guidance for the fourth quarter, full year of 2015 and full year of 2016. The company announced that preliminary earnings per share on a fully diluted basis for the full year 2015 are expected to be $2.61 to $2.64. Adjusted earnings per share on a fully diluted basis for the full year 2015 are expected to be $3.14 to $3.17.
Preliminary net sales for the fourth quarter of 2015 of approximately $860 million to $870 million, represents a decrease of over 4% from the same period last year. The expected decrease in net sales is primarily due to unfavorable Canadian foreign exchange and lower coffee pricing. Gross margins in the quarter are expected to show a 150 basis points improvement, due to improved operating performance and lower commodity costs. The expected tax rate for the quarter is 39.8%, higher than anticipated as a result of a state tax ruling late in the fourth quarter. The higher tax rate resulted in approximately a $0.05 decline in adjusted EPS.
For the year 2016, the company anticipates full year earnings of $2.95 to $3.10 per fully diluted share.
TreeHouse Foods, Inc. is a manufacturer and distributor of private label foods and beverages in North America. The Company's portfolio includes beverage and drink mix offerings, which include non-dairy creamer, coffee, broths/stocks, powdered beverages and other blends, tea, and ready-to-drink-beverages, and grocery offerings, which include pickles, refrigerated dough, hot cereal, and cheese and pudding. The Company sells its products to retail, co- manufacturing, and food-away-from-home customers in shelf-stable, refrigerated, and frozen formats. It also offers its customers a range of value and nutritional solutions, including natural, organic, and gluten-free products. It owns pickle branded assets, including Bick's pickles, Habitant pickled beets, Woodman's horseradish and McLarens pickled onion brands. The Company sells its products through various distribution channels, including retailers, food service distributors, co-manufacturers, and industrial and export channels.
TREEHOUSE FOODS, INC. 
