Why TreeHouse Foods, Inc. Stock Plummeted Thursday
Shares of food and beverage manufacturer TreeHouse Foods (NYSE: THS) were slammed on Thursday, following the company's third-quarter earnings report. The stock fell as much as 30%. Shares are down 29.6% at the time of this writing.
The stock's decline comes as management missed both analysts' and management's own forecasts for third-quarter profitability. TreeHouse management had said it expected third-quarter adjusted earnings per share to be between $0.75 and $0.83. But adjusted EPS was $0.67, down from $0.70 in the year-ago quarter. On average, analysts were expecting adjusted EPS of $0.77.
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Source: Fool.com
