TreeHouse Foods Reports $3.354 Billion in Net Sales for Fiscal Year 2024, Down 2.3%

TreeHouse Foods, Inc. reported a net sales figure of $3.354 billion for the fiscal year ending December 31, 2024, reflecting a decrease of 2.3% from the previous year's $3.432 billion. The company's gross profit also declined, totaling $548.4 million, down from $576.1 million in 2023, resulting in a gross margin of 16.4%, compared to 16.8% the prior year. Net income from continuing operations fell significantly to $26.9 million, or $0.51 per diluted share, a 54.4% decrease from $59.0 million, or $1.05 per diluted share, in 2023.

The decline in revenue and profitability was attributed to several factors, including targeted pricing adjustments in response to commodity costs, the impact of a voluntary recall of frozen griddle products, and the restoration costs associated with a broth facility. Additionally, the company faced challenges from a decrease in volume/mix due to planned distribution exits. However, the acquisition of the Coffee Roasting Capability contributed positively, adding $57.9 million to net sales.

Strategically, TreeHouse Foods has been active in acquisitions and divestitures to streamline its operations. In January 2024, the company acquired pickle branded assets from The J.M. Smucker Co. for $25.9 million, enhancing its presence in the pickles category, particularly in Canada. The company also completed the acquisition of the private brand tea business from Harris Freeman & Co. in January 2025 for approximately $205 million. Conversely, TreeHouse exited the ready-to-drink beverage business, which had generated $32.6 million in sales in 2024, as part of its portfolio optimization strategy.

Operationally, TreeHouse Foods reported a workforce of approximately 7,400 employees as of December 31, 2024, with a significant portion based in the U.S. The company continues to focus on enhancing its supply chain efficiency and customer partnerships, which are critical to its growth strategy. The company’s ten largest customers accounted for approximately 57.1% of consolidated net sales, with Walmart Inc. being the largest, representing 23.9% of total sales.

Looking ahead, TreeHouse Foods anticipates continued challenges from inflationary pressures and evolving consumer preferences, particularly with the rise of weight loss drugs potentially impacting demand for certain products. The company remains committed to its strategic initiatives aimed at improving operational efficiencies and expanding its product offerings in higher-margin categories.