RTTNews | Aug 6, 2020 07:11AM EDT

07:11 Thursday, August 6, 2020 (RTTNews.com) - TreeHouse Foods, Inc. (THS) raised its 2020 guidance for adjusted earnings from continuing operations to $2.55 to $2.75 per share. The company now expects revenue to be at the upper end of its original guidance of $4.10 to $4.40 billion. Free cash flow is also expected to be at the upper end of the guidance range of $250 million to $300 million.

For third quarter, the company projects adjusted earnings per share from continuing operations of $0.55 to $0.65, up approximately 9% year-over-year at the midpoint. Net sales are anticipated to between $1.04 billion to $1.08 billion, approximately flat year-over-year at the midpoint on a reported basis, and up approximately 2% on an organic basis.

Second quarter adjusted earnings per share from continuing operations was $0.58 compared to $0.40, an increase of 45%. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.48, for the quarter. Analysts' estimates typically exclude special items.

Second quarter net sales were $1.04 billion compared to $1.03 billion, last year, an increase of 1.6%. Organic net sales rose 3.7%. Analysts expected revenue of $1.07 billion for the quarter.

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