Business
Hain Celestial Reports First Quarter Fiscal Year 2022 Financial Results
Better than Expected First Quarter Net Sales of $454.9 million versus Previous Guidance First Quarter GAAP EPS of $0.20 and Adjusted EPS of $0.25 Company
About this update from The Hain Celestial Group, Inc.
[{"type":"text","content":"Better than Expected First Quarter Net Sales of $454.9 million versus Previous Guidance\n First Quarter GAAP EPS of $0.20 and Adjusted EPS of $0.25\n Company Reaffirms Full Fiscal Year 2022 Guidance\n\n\nLAKE SUCCESS, N.Y., Nov. 9, 2021 /PRNewswire/ -- The Hain Celestial Group, Inc. (Nasdaq: HAIN) (\"Hain Celestial\", \"Hain\" or the \"Company\"), a leading organic and natural products company with operations in North America, Europe, Asia and the Middle East providing consumers with A Healthier Way of Life®, today reported financial results for the first quarter ended September 30, 2021.\n\n \n \n \n \n \n \n\n \nMark L. Schiller, Hain Celestial's President and Chief Executive Officer, commented, \"We are pleased to have delivered better top line and bottom line first quarter performance than our guidance as we navigated a challenging operating environment affected by industry-wide inflation and labor challenges. In September, we held our Investor Day, during which we shared our Hain 3.0 vision and strategy for the next several years at Hain, focused on building a global healthy food and beverage company with industry-leading top line growth. We believe that we are well positioned for the future, and we expect another strong year as we continue to create shareholder value.\"\nFINANCIAL HIGHLIGHTS*\nSummary of First Quarter Results from Continuing Operations \nNet sales decreased 9% to $454.9 million, or 11% on a constant currency basis, compared to the prior year period. When adjusted for foreign exchange, divestitures and discontinued brands, net sales were flat compared to the prior year period. Gross margin of 23.2%, a 72 basis point decrease from the prior year period. Adjusted gross margin of 23.9%, a 24 basis point decrease from the prior year period. Operating income of $25.5 million compared $3.3 million in the prior year period. Adjusted operating income of $34.3 million compared to $38.8 million in the prior year period. Net income of $19.4 million compared to a net loss of $10.8 million in the prior year period. Adjusted net income of $23.8 million compared to $27.4 million in prior year period. Adjusted EBITDA of $47.3 million compared to $54.9 million in the prior year period. Adjusted EBITDA margin of 10.4%, a 61 basis point decrease compared to the prior year period. Earnings per diluted share (\"EPS\") of $0.20 ...