US own-label firm TreeHouse Foods has booked an increase in third-quarter earnings and reaffirmed its full-year guidance.
Earnings in the three months to the end of September increased to US$22.7m from $21.6m last year. EBITDA climbed 8.1% to $78m, primarily due to sales mix, pricing, cost containment and lower freight costs, partially offset by increased input costs and incremental incentive compensation.
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Net sales in the period totalled $567.2m versus $538.1m in the prior year period, an increase of 5.4%. This was primarily due to its acquisitions of Cains Foods and the aseptic cheese and pudding business from Associated Milk Producers.
“We delivered top line growth in all channels of distribution and are pleased with the results in the quarter, especially in our Retail segment, where food industry growth continues to be sluggish,” said CEO Sam Reed.
TreeHouse reaffirmed its 2013 adjusted EPS guidance of $3.07 to $3.12.
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