Treehouse Foods (NYSE: THS) reported Q2 EPS of $0.51, $0.02 better than the analyst estimate of $0.49. Revenue for the quarter came in at $1.52 billion versus the consensus estimate of $1.54 billion.

GUIDANCE:

Treehouse Foods sees Q3 2017 EPS of $0.75-$0.83, versus the consensus of $0.92.

Treehouse Foods sees FY2017 EPS of $3.15-$3.30, versus the consensus of $3.50.

"As we enter the back half of the year, the environment remains highly competitive, which is pressuring volumes across nearly all of our divisions. We are diligently working to improve our operational effectiveness, aggressively simplify our offerings, and reduce our cost structure," continued Mr. Reed. "However, our current forecast is below our original expectations for the year, and we are lowering our full year guidance for adjusted earnings per fully diluted share to a range of $3.15 to $3.30. We anticipate third quarter adjusted earnings will be within the range of $0.75 to $0.83."

Because the Company cannot predict some of the key items impacting reported GAAP results, such as the impact of foreign exchange, the third quarter forecast for both GAAP and adjusted earnings is the same. With regard to the full year, TreeHouse provided a GAAP earnings per fully diluted share guidance range of $1.92 to $2.07. The difference between the full year GAAP and adjusted (non-GAAP) guidance ranges is related to the impact of adjusting for the items noted in the earnings per share reconciliation table for the six months ended June 30, 2017, equating to $1.23 per fully diluted share.

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