Exhibit 99.1

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NEWS RELEASE
 
 
 
 
Contact:
Investor Relations
 
 
708.483.1300 Ext 1331            
 
 
 
TreeHouse Foods, Inc. Delivers First Quarter 2019 Results Above Mid-Point of Guidance
 
HIGHLIGHTS
First quarter 2019 loss per fully diluted share was $(0.49) compared to a loss per fully diluted share of $(0.60) for the same period in 2018.
First quarter 2019 adjusted earnings per fully diluted share was $0.13, above the midpoint of the Company's guidance range of $0.05 to $0.15.
First quarter 2019 adjusted earnings per fully diluted share of $0.13 was $(0.05) below first quarter 2018.
In a separate press release issued today, TreeHouse announced a definitive agreement to sell its Ready-to-eat cereal business to Post Holdings.
TreeHouse confirmed that its strategic review of the Snacks business is ongoing and anticipates providing greater detail in conjunction with its second quarter earnings release in early August. The company plans to update its detailed full year 2019 guidance at that time.


Oak Brook, IL, May 2, 2019 — TreeHouse Foods, Inc. (NYSE: THS) today reported first quarter GAAP loss per fully diluted share of $(0.49) compared to a GAAP loss of $(0.60) reported for the first quarter of 2018. The Company reported adjusted earnings per fully diluted share1 of $0.13 in the first quarter of 2019 compared to adjusted earnings per share of $0.18 for the first quarter of 2018.
 
“We delivered a solid first quarter, with revenue in line with expectations and adjusted earnings per share toward the upper end of our guidance range,” said Steve Oakland, Chief Executive Officer and President. "I’m pleased with our accomplishments to date, and while we continue to have a lot of work ahead of us, credit goes to our teams who are improving our service levels and implementing continuous improvement practices across our organization. As we align our culture with our mission, vision and purpose, we are also in the process of redefining our values that will shape how we work with our customers, suppliers and each other to support our performance-based culture and ultimately, drive superior results. I am really excited about what our teams can accomplish at TreeHouse.”

“I’m encouraged by the quality of our first quarter results,” said Matthew Foulston, EVP and Chief Financial Officer. “Revenue of $1.3 billion declined 12% versus last year, in line with expectations, driven by SKU rationalization and volume loss in Snacks and Meal Solutions. Adjusted EPS of $0.13 was toward the top end of our guidance, helped by lower than anticipated health care costs, favorable SG&A expenses, and higher production levels as we built inventory in anticipation of potential Midwest flooding.”



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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 loss per fully diluted share, the most comparable GAAP financial measure.


The following information was filed by Treehouse Foods, Inc. (THS) on Thursday, May 2, 2019 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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