Selloff or Market Correction? Either Way, Here's What to Do Next!See Overvalued Stocks

TreeHouse Foods shares rise as executives outline goals at investor day

Published 13/06/2023, 19:18
© Reuters.
THS
-

Investing.com -- Treehouse Foods Inc (NYSE:THS) shares were rising 3% as the company outlined its strategy at its investor meeting on Tuesday.

The maker of private label packaged foods and drinks reaffirmed guidance for the second quarter ending in June, seeing revenue flat to rising 4% from the same time last year to $810 million to $840M versus analyst expectations for $830.5M.

It sees revenue for the first half of the year between $1.705 billion and $1.735B, for growth of 7.7% to 9.6%.

CEO Steve Oakland said the company has repositioned itself to be stronger and more focused. "We are pleased with our start to 2023 and are confident in our ability to achieve our annual growth targets and create value for our shareholders." 

The company said in a press release that its annual growth targets for 2024 through 2027 include 3% to 5% revenue growth, 8% to 10% in annual adjusted growth of earnings before interest, taxes, depreciation and amortization, and $200M of free cash flow.

Shares are up 6% so far this year. Stifel recently resumed coverage with a Hold rating and a $53 price target. The stock is currently trading at $52.75.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.