Exhibit 99.1

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NEWS RELEASE
 
 
 
 
Contact:
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708.483.1300 Ext 1331            
 
 
 
TreeHouse Foods, Inc. Delivers Third Quarter 2018 Results Above Guidance and Narrows Full Year Guidance Range
 
HIGHLIGHTS
Third quarter 2018 earnings per fully diluted share was $0.10 compared to earnings per fully diluted share of $0.50 for the same period in 2017.
Third quarter 2018 adjusted earnings per fully diluted share was $0.62, $(0.05) below third quarter 2017.
Third quarter 2018 net sales decreased (10.0)% compared to the same period last year; a decrease of (7.5)% compared to the same period last year, excluding the impact of SKU rationalization (2.3)% and the McCann's divestiture (0.2%).
Third quarter 2018 adjusted earnings per fully diluted share of $0.62 was above the top end of the Company's guidance range of $0.50 to $0.60.
TreeHouse further narrows 2018 guidance range for adjusted earnings per fully diluted share of $2.05 to $2.25.


Oak Brook, IL, November 1, 2018 — TreeHouse Foods, Inc. (NYSE: THS) today reported third quarter GAAP earnings per fully diluted share of $0.10 compared to a GAAP earnings of $0.50 reported for the third quarter of 2017. The Company reported adjusted earnings per fully diluted share1 of $0.62 in the third quarter of 2018 compared to adjusted earnings per share of $0.67 for the third quarter of 2017.
 
"Our Q3 results represent the third quarter in a row of delivering upon our financial commitments,” said Steve Oakland, Chief Executive Officer and President. “I continue to be impressed by the effort our organization is putting forth to deliver sequential operational progress and improve our business for the long-term. Our TreeHouse 2020 and Structure to Win (SG&A) initiatives and goals, which aim to properly align our cost structure across the business, remain on track as we continue the process of defining how we can best position ourselves to capitalize on private label growth across the food and beverage landscape."

“I’m pleased with the quality of our results this quarter, as we delivered $0.62 in adjusted EPS, despite incurring higher expenses related to the hurricanes,” said Matthew Foulston, EVP and Chief Financial Officer. “Revenue decline in the quarter of 7.5% (excluding SKU rationalization impact of 2.3% and McCann's divestiture of 0.2%) was slightly greater than anticipated, as favorable pricing of 1.7% was offset by volume/mix declines primarily within the Snacks and Meals divisions. Pricing fully covered higher commodity, packaging, and freight costs, and through the end of the third quarter we have more than achieved our full year Structure to Win goal of $30 million in savings.”


 
 
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1
Adjusted earnings per fully diluted share is a Non-GAAP financial measure. See “Comparison of Adjusted Information to GAAP Information” below for the definition of adjusted earnings per fully diluted share, information concerning certain items affecting comparability, and a reconciliation of adjusted earnings per fully diluted share to earnings per fully diluted share, the most comparable GAAP financial measure.


The following information was filed by Treehouse Foods, Inc. (THS) on Thursday, November 1, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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