TREEHOUSE FOODS, INC. (NYSE:THS) Files An 8-K Results of Operations and Financial Condition
Item2.02. Results of Operations and Financial Condition
On May4, 2017, TreeHouse Foods, Inc. (NYSE: THS) issued a press
release announcing its financial and operating results for the
fiscal quarter ended March31, 2017 and providing information
relating to its previously announced webcast being held to
discuss such results.A copy of this press release is furnished as
Exhibit 99.1 to this report and is incorporated herein by
reference.
Item8.01. Other Events
In the first quarter of 2017, TreeHouse Foods, Inc. completed
changes in its organizational structure that resulted in a change
in how the Company manages its business and allocates resources.
The Companys reportable segments are now organized and managed by
products: Baked Goods, Beverages, Condiments, Meals, and Snacks.
Previously, TreeHouses reportable segments were organized and
managed by customer channels: North American Retail Grocery, Food
Away From Home, and Industrial and Export. All prior period
information has been recast to reflect this change.
The Company manages operations on a company-wide basis, thereby
making determinations as to the allocation of resources in total
rather than on a segment-level basis. The Company has designated
reportable segments based on how management views its business.
The reportable segments, as presented below, are consistent with
the manner in which the Company reports its results to the Chief
Operating Decision Maker.
The Company evaluates the performance of its segments based on
net sales dollars and direct operating income. In conjunction
with the change in segments, the Company revised its calculation
of direct operating income to include direct general and
administrative expenses. Direct operating income is now defined
as gross profit less freight out, sales commissions, and direct
selling, general, and administrative expenses.
For comparability and investor analysis purposes, the Company is
recasting the presentation of selected segment information by
quarter for 2016 and 2015. These changes do not affect the
Companys Consolidated Statements of Income, Consolidated Balance
Sheets, Consolidated Statements of Stockholders Equity, or
Consolidated Statements of Cash Flows.
The selected segment information is furnished as Exhibit 99.2 to
this report and is incorporated herein by reference.
The information in this Form 8-K under Item 2.02, Item 8.01,
Exhibit 99.1, and Exhibit 99.2 attached hereto shall not be
deemed filed for purposes of Section18 of the Securities Exchange
Act of 1934, as amended (the Exchange Act), or otherwise subject
to the liabilities of that section, nor shall it be deemed
incorporated by reference in any filing under the Securities Act
of 1933, as amended, or the Exchange Act, except as expressly set
forth by specific referencing in such filing.
Section9 Financial Statements and Exhibits
Item9.01. Other Events
| (d) | Exhibits: |
|
Exhibit Number |
Exhibit Description |
|
| 99.1 |
Press Release dated May4, 2017, announcing financial results for the fiscal quarter ended March31, 2017 |
|
| 99.2 | Recast quarterly segment information for 2016 and 2015 |
About TREEHOUSE FOODS, INC. (NYSE:THS)
TreeHouse Foods, Inc. is a consumer packaged food and beverage manufacturing company. The Company’s segments include North American Retail Grocery, Food Away From Home, and Industrial and Export. It manufactures a range of shelf stable, refrigerated and fresh products. Its product categories include beverages, salad dressings, snacks, beverage enhancers, pickles, Mexican and other sauces, soup and infant feeding, cereals, dry dinners, aseptic products, jams and other products. The Company offers its services to retail grocery, food away from home, and industrial and export customers. It has approximately 20 manufacturing facilities across the United States and Canada. With its offering of packaging formats and flavor profiles, the Company also offers natural, organic and preservative-free ingredients in various categories. It supplies to approximately 200 food retail customers in North America. TREEHOUSE FOODS, INC. (NYSE:THS) Recent Trading Information
TREEHOUSE FOODS, INC. (NYSE:THS) closed its last trading session up +0.51 at 87.03 with 941,055 shares trading hands.