Business
Hain Celestial Reports Second Quarter Fiscal Year 2021 Financial Results
Fourth Consecutive Quarter of Net Sales Growth 376 Basis Point Expansion of Gross Margin $43.1 Million Improvement in Operating Cash Flow Gross Margin
About this update from The Hain Celestial Group, Inc.
[{"type":"text","content":"Fourth Consecutive Quarter of Net Sales Growth\n 376 Basis Point Expansion of Gross Margin\n $43.1 Million Improvement in Operating Cash Flow\n Gross Margin Improvement and Adjusted EBITDA Growth Expected to Continue\n\n\nLAKE SUCCESS, N.Y., Feb. 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 second quarter ended December 31, 2020. The results contained herein are presented with the Hain Pure Protein and Tilda operating segments being treated as discontinued operations. All growth comparisons are against the corresponding prior year period unless otherwise noted.\n\n \n \n \n \n \n \n\n \nMark L. Schiller, Hain Celestial's President and Chief Executive Officer, commented, \"We are very pleased with our second quarter results, delivering mid-single digit topline growth, several hundred basis points of gross margin improvement and strong adjusted EBITDA growth. Although the macro operating environment remains challenging, our team continues to execute well against our transformational agenda. As a result, I am confident we will continue to see solid margin expansion and profit growth as we progress through the second half of fiscal year 2021.\"\nFINANCIAL HIGHLIGHTS1\nSummary of Second Quarter Results from Continuing Operations2\nNet sales increased 4% to $528.4 million, or 2% on a constant currency basis, compared to the prior year period. When adjusted to exclude the effects of foreign exchange, divestitures and discontinued brands, net sales increased 6% compared to the prior year period. Gross margin of 24.6%, a 376 basis point increase from the prior year period. Adjusted gross margin of 25.3%, a 331 basis point increase from the prior year period. Operating income of $13.0 million compared to $9.2 million in the prior year period. Adjusted operating income of $48.1 million compared to $29.5 million in the prior year period. Net income of $2.2 million compared to $1.9 million in the prior year period. Adjusted net income of $34.7 million compared to $17.6 million in the prior year period. Adjusted EBITDA of $62.2 million compared to $45.0 million in t...