Why Food & Beverage Company TreeHouse Foods' Shares Are Falling Today
Portfolio Pulse from Lekha Gupta
TreeHouse Foods Inc's shares fell by 8% after the company reported Q3 FY23 results. Sales from continuing operations grew 3.6% Y/Y to $863.3 million, missing the consensus of $947.3 million. Adjusted net sales stood at $906.6 million, below the guidance range of $950 million to $970 million, impacted by a product recall and supply chain disruption. Adjusted EPS of $0.50 missed the consensus estimate of $0.53. The company bought back shares worth $50 million in Q3.
November 06, 2023 | 4:03 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
TreeHouse Foods' Q3 results missed estimates, leading to an 8% drop in share price. The company's sales and EPS were lower than expected due to a product recall and supply chain disruption.
TreeHouse Foods' shares fell due to disappointing Q3 results. The company's sales and EPS were lower than expected, which can be attributed to a product recall and supply chain disruption. This negative news is likely to impact investor sentiment and put downward pressure on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100