Treehouse Foods (THS) Misses Q3 EPS by 8c; Announces CFO Transition, Plant Rightsizing
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TreeHouse Foods, Inc. Reports Third Quarter 2016 Results
November 3, 2016 6:56 AM EDTOAK BROOK, Ill., Nov. 3, 2016 /PRNewswire/ -- TreeHouse Foods, Inc. (NYSE: THS) today reported third quarter GAAP earnings per fully diluted share of $0.65 compared to $0.65 reported for the third quarter of last year. The Company reported adjusted earnings per fully diluted share1 in the third quarter of $0.70 compared to $0.86 for the third quarter of last year, excluding the items described below.
The Company's 2016 third quarter results included five items noted below that, in management's judgment, affect the assessment of earnings. The first item was a $0.10 per share expense for restructuring and... More
TreeHouse Foods Announces the Appointment of Matthew Foulston as CFO
November 3, 2016 6:54 AM EDTOAK BROOK, Ill., Nov. 3, 2016 /PRNewswire/ -- TreeHouse Foods, Inc. (NYSE: THS) announced today that its Board of Directors has appointed Matthew J. Foulston, age 52, Executive Vice President and Chief Financial Officer. Mr. Foulston was most recently Chief Financial Officer of Compass Minerals International, Inc. where he was responsible for accounting, financial planning and reporting, tax, internal audit, capital investment management and investor relations. To ensure a smooth transition, Mr. Foulston has agreed to remain with Compass Minerals through December 1, 2016. Consequently, he will join TreeHouse no later than December 2, 2016.
"We... More
TreeHouse Foods President Chris Sliva to Resign; Dennis Riordan Named President
November 3, 2016 6:52 AM EDTOAK BROOK, Ill., Nov. 3, 2016 /PRNewswire/ --Â TreeHouse Foods, Inc. (NYSE: THS) announced today that Christopher D. Sliva has tendered his resignation as President in order to pursue another career opportunity.
Dennis F. Riordan, Executive Vice President and Chief Financial Officer, whose upcoming retirement was announced in August, has committed to remain with the Company and serve as President while the Company conducts a search for a new President. Mr. Riordan will have oversight of both of the operating companies Bay Valley Foods and TreeHouse Private Brands.Â
In a separate... More
TreeHouse Foods Announces Plans to Close Delta, B.C. Facility and Downsize Battle Creek, Mich. Facility
November 3, 2016 6:50 AM EDTOAK BROOK, Ill., Nov. 3, 2016 /PRNewswire/ --Â TreeHouse Foods, Inc. (NYSE: THS) today announced its intention to close a facility in Delta, British Columbia and reduce its manufacturing footprint in Battle Creek, Michigan. The decision follows an analysis of the Company's plant network to align operations with the current and future needs of its customers and eliminate excess manufacturing capacity.
The Delta facility employs approximately 90 employees and produces frozen griddle products, primarily for the North American Retail Grocery segment. Production is expected to cease in early 2018. The Company operates two... More
