Exhibit 99.1

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NEWS RELEASE
 
 
 
 
Contact:
Investor Relations
 
 
708.483.1300 Ext 1331            
 
 
 
TreeHouse Foods, Inc. Reports Second Quarter 2020 Results
 
HIGHLIGHTS
Second quarter 2020 loss per diluted share from continuing operations was $(0.05) compared to $(0.89) for the same period in 2019.
Second quarter 2020 adjusted earnings per diluted share from continuing operations was $0.58 compared to $0.40 for the same period in 2019, representing an increase of 45%, driven by improved operational throughput as the Company continued to service increased demand related to COVID-19.
TreeHouse raised its full year 2020 guidance to $2.55 - $2.75 for adjusted earnings per diluted share from continuing operations. The Company anticipates net sales for the year and free cash flow to be at the upper end of its original guidance ranges of $4.10 to $4.40 billion and $250 to $300 million, respectively, again noting that there exists uncertainty around the nature, timing and magnitude of changes in future sales and earnings attributable to the spread of COVID-19 in North America.

Oak Brook, IL, August 6, 2020 — TreeHouse Foods, Inc. (NYSE: THS) today reported second quarter GAAP loss per diluted share from continuing operations of $(0.05) compared to $(0.89) for the second quarter of 2019. Adjusted earnings per diluted share from continuing operations1 were $0.58 in the second quarter of 2020 compared to $0.40 in the second quarter of 2019.
 
"Our priority continues to be the health, safety and welfare of our employees, and we owe them our thanks as they've continued to demonstrate resilience and dedication, working tirelessly to fulfill increased demand and service our customers,” said Steve Oakland, Chief Executive Officer and President. “I'm pleased with our strong performance in the second quarter, as we delivered bottom line results of $0.58, which was above our expectations. Our business transformation and strategic reorganization to two divisions enabled us to increase production to meet higher demand and capture operational efficiencies.”

Bill Kelley, EVP and Chief Financial Officer, said: "Our operational and commercial teams continue to work well together to service our retail customers and meet the higher demand for food at home, which drove organic net sales growth of 3.7% in the second quarter. Our conscious decision to keep our employees safe and healthy by limiting production at plants located in regions most heavily impacted by COVID-19 resulted in revenue for the quarter just below our guidance range. Solid productivity gains throughout our network of manufacturing and distribution facilities enabled us to deliver second quarter adjusted gross profit1 of 20.1%, 120 basis points higher than last year. I commend our team on an outstanding performance in a difficult time.”

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1

Adjusted earnings per diluted share from continuing operations, organic net sales, adjusted gross profit, and adjusted EBITDA from continuing operations are Non-GAAP financial measures. See “Comparison of Adjusted Information to GAAP Information” for the definitions of the Non-GAAP measures, information concerning certain items affecting comparability, and reconciliations of the GAAP to Non-GAAP measures.



The following information was filed by Treehouse Foods, Inc. (THS) on Thursday, August 6, 2020 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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