TreeHouse Foods, Inc. (NYSE:THS) Q4 2022 Earnings Conference Call February 13, 2023 8:30 AM ET
Company Participants
P.I. Aquino - VP of IR
Steve Oakland - President, CEO & Director
Pat O’Donnell - CAO
Conference Call Participants
Andrew Lazar - Barclays
Rob Moskow - Credit Suisse
Bill Chappell - Truist Securities
Chris Growe - Stifel
Connor Rattigan - Consumer Edge Research
Robert Dickerson - Jefferies
Carla Casella - JPMorgan
Operator
Welcome to the TreeHouse Foods' Fourth Quarter 2022 Conference Call. All participants will be in listen-only mode. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note that this event is being recorded.
At this time, I would like to turn the call over to TreeHouse Foods for the reading of the Safe Harbor statements.
P.I. Aquino
Good morning, and thank you for joining us today. Earlier this morning, we issued our earnings release and posted our earnings deck, those of which are available within 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. As such, we'll be discussing 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 the release and the appendix of today's earnings deck.
With that, let me now turn the call over to our CEO and President, Mr. Steve Oakland.
Steve Oakland
Thank you, P.I., and thank you all for joining us today. I'm pleased to be here to report our progress on the strategic transformation of TreeHouse. Starting with our strong fourth quarter and continuing in our outlook for 2023 and beyond.
On Slide 3, we've shared the key messages that I'd like you to take away from today's call. First, we've accomplished a great deal in 2022, reaching a major strategic milestone in early October, by divesting a significant portion of our Meal Prep business at a compelling valuation. We reshaped our portfolio, sharpening our focus as a higher growth, higher margin private label snacking and beverage business. This will enable us to improve the consistency of our execution and our results.