Business
Hain Celestial Reports Fourth Quarter and Fiscal Year 2021 Financial Results
Fourth Quarter Net Income Improved by $37 million from $4 million in the Prior Year Fourth Quarter GAAP EPS of $0.40; Adjusted EPS of $0.39 Fourth Quarter
About this update from The Hain Celestial Group, Inc.
[{"type":"text","content":"Fourth Quarter Net Income Improved by $37 million from $4 million in the Prior Year\n Fourth Quarter GAAP EPS of $0.40; Adjusted EPS of $0.39\n Fourth Quarter Adjusted EBITDA Growth of 10%\n Announces Incremental $300 Million Share Repurchase Authorization\n Provides Fiscal Year 2022 Guidance\n\n\nLAKE SUCCESS, N.Y., Aug. 26, 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 fourth quarter and fiscal year ended June 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 very proud of our solid fourth quarter and full fiscal year 2021 results. In spite of the many challenges our industry faced this past year, we continued to successfully execute against our transformation plan, delivering robust full year margin expansion and strong adjusted EBITDA growth. Heading into 2022, we expect another strong year with adjusted net sales growth, margin expansion and adjusted EBITDA growth even in this challenging environment of high inflation and labor shortages.\"\nFINANCIAL HIGHLIGHTS*\nSummary of Fourth Quarter Results from Continuing Operations \nNet sales decreased 12% to $450.7 million, or 17% on a constant currency basis, compared to the prior year period. When adjusted for foreign exchange, divestitures and discontinued brands, net sales decreased 8% compared to the prior year period. Gross margin of 25.0%, a 41 basis point decrease from the prior year period. Adjusted gross margin of 25.7%, a 49 basis point increase from the prior year period. Operating income of $41.6 million compared $25.3 million in the prior year period. Adjusted operating income of $53.0 million compared to $47.9 million in the prior year period. Net income of $40.5 million compared to $3.7 million in the prior year period. Adjusted net income of $39.7 million compared to $32.3 million in prior year period. Adjusted EBITDA of $68.1 million compared to $62.2 million in the prior year period. Adjusted EBITDA margin of 15.1%, a 296 basis point increase compared to the prior year period. Earnings per diluted share (\"EPS...