Business
Hain Celestial Reports Second Quarter Fiscal Year 2020 Financial Results
Transformational Strategic Plan Continues to Progress Narrows and Reaffirms Fiscal Year 2020 Guidance LAKE SUCCESS, N.Y., Feb. 6, 2020 /PRNewswire/ -- The
About this update from The Hain Celestial Group, Inc.
[{"type":"text","content":"Transformational Strategic Plan Continues to Progress\n Narrows and Reaffirms Fiscal Year 2020 Guidance\n\n\nLAKE SUCCESS, N.Y., Feb. 6, 2020 /PRNewswire/ -- The Hain Celestial Group, Inc. (Nasdaq: HAIN) (\"Hain Celestial\" 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 second quarter ended December 31, 2019. The results contained herein are presented with the Hain Pure Protein and Tilda operating segments being treated as discontinued operations.\n\n \n \n\n \nMark L. Schiller, Hain Celestial's President and Chief Executive Officer, commented, \"Our team continues to execute on our transformational strategic plan, as we demonstrate another quarter of operational and financial improvement on a year-over-year basis. We have made significant progress in a very short period of time. We are delivering on the commitments we communicated to further simplify the portfolio and organization, strengthen our core capabilities, expand our margins and cash flow as well as reinvigorate profitable sales growth in a core set of high potential brands. We remain committed to delivering strong, consistent results for all our stakeholders.\"\nFINANCIAL HIGHLIGHTS1\nSummary of Second Quarter Results from Continuing Operations2 \nNet sales of $506.8 million decreased 5% on an as reported and constant currency basis compared to the prior year period. When adjusted for Foreign Exchange, Divestitures and Stock Keeping Unit (\"SKU\") rationalization3, net sales decreased 1% compared to the prior year period. Gross margin of 20.8%, a 180 basis point increase from the prior year period. Adjusted gross margin of 22.0%, a 220 basis point increase from the prior year period. Operating income of $9.2 million compared to an operating loss of $20.9 million in the prior year period. Adjusted operating income of $29.5 million compared to $24.4 million in the prior year period. Net income of $1.9 million compared to a net loss of $31.8 million in the prior year period. Adjusted net income of $17.6 million compared to $13.0 million in prior year period. EBITDA of $24.9 million compared to $12.2 million in the prior year period. EBITDA margin of 4.9%, a 260 basis point improvement from the ...