TreeHouse Foods, Inc. (NYSE:THS) Q1 2023 Earnings Conference Call May 8, 2023 8:30 AM ET
Company Participants
P.I. Aquino - Vice President of Investor Relations
Steve Oakland - Chairman, Chief Executive Officer, and President
Patrick O'Donnell - Executive Vice President and Chief Financial Officer
Conference Call Participants
Andrew Lazar - Barclays Capital
Bill Chappell - Truist Securities
Matt Smith - Stifel
William Reuter - Bank of America
Michael Coppola - JPMorgan
Hale Holden - Barclays Capital
Operator
Welcome to the TreeHouse Foods' First Quarter 2023 Conference Call. This call is being recorded.
At this time, I will turn the call over to TreeHouse Foods for the reading of the Safe Harbor statements.
P.I. Aquino
Good morning, and thanks for joining us today. Our press release and earnings deck, both issued this morning are available in the Investor Relations section of our website at treehousefoods.com.
Before we begin, we would like to advise you that all forward-looking statements made on today's call are intended to fall within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and projections and involve risks and uncertainties that may cause actual results to differ materially from our forward-looking statements.
Information concerning those risks is contained in the company's filings with the SEC. On October 3, 2022 we completed the divestiture of a significant portion of our Meal Preparation business. Consistent with the prior two quarters, we will discuss our results on an adjusted continuing operations basis. A reconciliation of non-GAAP measures to their most direct comparable GAAP measures can be found in today's press release and the appendix tables of today's earnings deck.
With that, let me turn the call over to our Chairman, CEO and President Mr. Steve Oakland for his opening remarks.
Steve Oakland
Thank you, P.I., and good morning, everyone. I'm pleased to be here today to share our strong first quarter results and reaffirm our guidance for 2023.
Over the last year, we have optimized our portfolio, strengthened our balance sheet and simplified our business. Today, TreeHouse Foods is a higher growth, higher margin business focused on private label snacking and beverages. Our strategic ambition is profitable growth driven by leadership in consumer trending categories. I'm excited about all we've accomplished so far in our journey and the direction we're heading.
We continue to see a macro environment that supports private label growth, which coupled with our improved supply chain and our investments in our business, support our guidance and our algorithm. We had a strong start to the year and I'm very pleased with our performance. Importantly, I want to express my gratitude to our teams for their hard work as we continue to execute on our strategy.