TreeHouse Foods, Inc.

CIK:0001320695|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Income Statement [Abstract]
Net sales	$ 840.3	$ 839.1	$ 2,430.3	$ 2,448.3
Cost of sales	682.4	707.9	2,018.0	2,076.8
Gross profit	157.9	131.2	412.3	371.5
Operating expenses:
Selling and distribution	36.8	36.0	108.2	114.4
General and administrative	45.3	46.0	152.3	156.0
Amortization expense	13.0	12.3	39.3	36.5
Impairment	289.7	0.0	289.7	19.3
Other operating expense, net	27.2	5.1	55.1	22.7
Total operating expenses	412.0	99.4	644.6	348.9
Operating (loss) income	(254.1)	31.8	(232.3)	22.6
Other expense:
Interest expense	23.9	16.0	65.4	47.2
Interest income	(0.2)	(0.1)	(3.2)	(4.2)
Loss on extinguishment of debt	0.0	0.0	2.6	0.0
Loss (gain) on foreign currency exchange	1.8	(1.7)	(3.2)	3.2
Other (income) expense, net	(12.1)	21.9	22.8	16.9
Total other expense	13.4	36.1	84.4	63.1
Loss before income taxes	(267.5)	(4.3)	(316.7)	(40.5)
Income tax benefit	(1.7)	(0.9)	(16.2)	(8.7)
Net loss	$ (265.8)	$ (3.4)	$ (300.5)	$ (31.8)
Loss per common share:
Basic (in dollars per share)	$ (5.26)	$ (0.07)	$ (5.95)	$ (0.60)
Diluted (in dollars per share)	$ (5.26)	$ (0.07)	$ (5.95)	$ (0.60)
Weighted average common shares:
Basic (in shares)	50.5	51.9	50.5	52.7
Diluted (in shares)	50.5	51.9	50.5	52.7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024
Cash flows from operating activities:
Net loss	$ (300.5)	$ (31.8)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	125.2	109.5
Impairment	289.7	19.3
Stock-based compensation	15.2	15.5
Loss on extinguishment of debt	2.6	0.0
Unrealized loss on derivative contracts	19.0	11.0
Deferred income taxes	(14.7)	(4.0)
Other, net	2.5	8.4
Changes in operating assets and liabilities, net of acquisitions:
Receivables	(70.2)	(48.8)
Inventories	(85.0)	(84.4)
Prepaid expenses and other assets	(13.4)	(19.7)
Accounts payable	(50.6)	7.2
Accrued expenses and other liabilities	17.7	(12.6)
Net cash used in operating activities	(62.5)	(30.4)
Cash flows from investing activities:
Capital expenditures	(84.8)	(91.6)
Proceeds from sales of fixed assets	12.7	1.4
Acquisition, net of cash acquired	(209.3)	0.0
Net cash used in investing activities	(281.4)	(90.2)
Cash flows from financing activities:
Borrowings under Revolving Credit Facility	2,251.9	212.5
Payments under Revolving Credit Facility	(2,156.9)	(212.5)
Payments on financing lease obligations	(1.6)	(0.6)
Deferred payment from acquisition of seasoned pretzel capability	0.0	(4.0)
Payment of deferred financing costs	(3.9)	0.0
Payments on Term Loans	(907.1)	0.0
Proceeds from refinanced Term Loans	899.2	0.0
Payments on insurance premium financing	(1.7)	0.0
Repurchases of common stock	0.0	(88.7)
Payments related to stock-based award activities	(4.1)	(4.0)
Net cash provided by (used in) financing activities	75.8	(97.3)
Effect of exchange rate changes on cash and cash equivalents	(0.5)	(0.4)
Net decrease in cash and cash equivalents	(268.6)	(218.3)
Cash and cash equivalents, beginning of period	289.6	320.3
Cash and cash equivalents, end of period	21.0	102.0
Supplemental cash flow disclosures:
Interest paid	76.9	69.6
Net income taxes paid	17.3	5.7
Non-cash investing and financing activities:
Capital expenditures incurred but not yet paid	9.9	21.5
Right-of-use assets obtained in exchange for lease obligations	44.6	3.3
Preliminary purchase price adjustment for private brand tea business acquisition	2.0	0.0
Accrued deferred financing costs	0.0	0.2
Financed insurance premium exchanged for prepaid insurance	$ 9.4	$ 0.0

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 21.0	$ 289.6
Receivables, net	231.4	146.8
Inventories	668.2	539.3
Prepaid expenses and other current assets	48.0	34.0
Total current assets	968.6	1,009.7
Property, plant, and equipment, net	744.8	748.6
Operating lease right-of-use assets	172.8	154.4
Goodwill	1,601.4	1,819.3
Intangible assets, net	254.3	212.9
Other assets, net	34.1	35.1
Total assets	3,776.0	3,980.0
Current liabilities:
Accounts payable	554.7	602.5
Accrued expenses	180.7	141.3
Current portion of long-term debt	13.4	1.1
Total current liabilities	748.8	744.9
Long-term debt	1,486.1	1,401.3
Operating lease liabilities	133.4	125.4
Deferred income taxes	95.3	105.8
Other long-term liabilities	49.9	53.7
Total liabilities	2,513.5	2,431.1
Commitments and contingencies (Note 16)
Stockholders' equity:
Preferred stock, par value $0.01 per share, 10.0 shares authorized, none issued	0.0	0.0
Common stock, par value $0.01 per share, 90.0 shares authorized, 50.5 and 50.2 shares outstanding as of September 30, 2025 and December 31, 2024, respectively	0.6	0.6
Treasury stock	(385.4)	(385.4)
Additional paid-in capital	2,249.5	2,238.4
Accumulated deficit	(522.5)	(222.0)
Accumulated other comprehensive loss	(79.7)	(82.7)
Total stockholders' equity	1,262.5	1,548.9
Total liabilities and stockholders' equity	$ 3,776.0	$ 3,980.0