TreeHouse Foods shares sink 13% on forecast of lower 4Q

TreeHouse Foods Inc. forecast lower-than-expected quarterly results, hurt by a fall in demand in December and a shift in sales to lower margin products.

The news sent TreeHouse shares down 13 percent to $54.80 in midday trading on the New York Stock Exchange, after earlier falling 16 percent for the biggest intraday decline since Nov. 25, 2008. The shares gained 28 percent last year.

The company, which sells foods like soup, salad dressings, sauces and pickles that retailers stick their own labels on, now expects an adjusted profit of 84 cents to 87 cents a share for the fourth quarter.

Preliminary quarterly revenue grew 5 percent to about $535 million.

Analysts were expecting earnings of $1.07 a share, before special items, on revenue of $567.1 million, according to Thomson Reuters I/B/E/S.

Read Full Article from Chicago Tribune

- Posted: 2012-01-20 13:03:27

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