Treehouse Foods, Inc. (NYSE:THS) Q4 2023 Earnings Conference Call February 16, 2024 8:30 AM ET
Company Participants
Steve Oakland - Chairman, President & CEO
Pat O'Donnell - EVP & CFO
Matt Siler - IR
Conference Call Participants
Andrew Lazar - Barclays
Matt Smith - Stifel
Jim Salera - Stephens, Inc.
Rob Moskow - TD Cowen
Rob Dickerson - Jefferies
William Browder - Bank of America
Carla Casella - J.P. Morgan
Jon Anderson - William Blair
Operator
Welcome to the Treehouse Foods Fourth Quarter 2023 Conference Call. [Operator Instructions]. At this time, I would like to turn the call over to Treehouse Foods for the reading of the Safe Harbor statement.
Matt Siler
Good morning, and thank you for joining us today. Earlier this morning, we issued our earnings and posted our earnings deck, both 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. A reconciliation of non-GAAP measures to their most direct comparable GAAP measures can be found in the release and the appendix tables of today's earnings deck.
With that, let me now turn the call over to our Chairman, CEO, and President, Mr. Steve Oakland.
Steve Oakland
Thank you, Matt, and good morning, everyone. Please join me in welcoming Matt as our new Investor Relations Officer. Today, I will share with you our fourth quarter and full year 2023 financial results, as well as provide a highlight of our 2024 guidance. On Slide 3, you can see key takeaways for the quarter, but I want to start by discussing some highlights from the year. Fiscal 2023 represented our first full year operating as a more simplified private brand snacking and beverages company. With this sharpened focus, we successfully executed on our strategic priorities, including initiatives to build depth in our higher growth, higher margin categories, better optimize our supply chain and improve our service levels. As a result, we finished the year with a stronger portfolio, enhanced capabilities and depth, all while investing in our supply chain to better align it with these priorities. We delivered annual net sales growth of 4%, and adjusted EBITDA growth of 25%.