Business
Hain Celestial Reports Third Quarter Fiscal Year 2022 Financial Results
Total Net Sales Increased 2.1%; North America Net Sales Increased 13.3% EPS of $0.27; Adjusted EPS of $0.33 Multiple Actions Being Taken to Offset Input Cost
About this update from The Hain Celestial Group, Inc.
[{"type":"text","content":"Total Net Sales Increased 2.1%; North America Net Sales Increased 13.3% EPS of $0.27; Adjusted EPS of $0.33 Multiple Actions Being Taken to Offset Input Cost Inflation and Improve Margins LAKE SUCCESS, N.Y., May 05, 2022 (GLOBE NEWSWIRE) -- 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 third quarter ended March 31, 2022. Mark L. Schiller, Hain Celestial’s President and Chief Executive Officer, commented, “Despite a very challenging quarter, we are pleased to see underlying strength in our brands and accelerating topline growth in Q3, while navigating supply chain and labor disruptions and escalating inflationary costs. Consumption growth in the U.S. was extremely strong and is expected to continue into the fourth quarter. To offset cost pressures and deliver sequential margin improvement in Q4, we have increased prices and are delivering additional supply chain productivity initiatives. The team remains confident in our Hain 3.0 strategy and laser-focused on delivering accelerating top line and long-term profitable growth.” FINANCIAL HIGHLIGHTS Summary of Third Quarter Results from Continuing Operations Compared to the Prior Year Period Net sales increased 2.1% to $502.9 million compared to the prior year period.When adjusted for foreign exchange, acquisitions, divestitures and discontinued brands, net sales increased 1.5% compared to the prior year period.Gross profit margin of 23.0%, a 340 basis point decrease from the prior year period.Adjusted gross profit margin of 23.4%, a 400 basis point decrease from the prior year period.Operating income of $35.2 million compared to $49.6 million in the prior year period.Adjusted operating income of $42.4 million compared to $59.7 million in the prior year period.Net income of $24.5 million compared to $34.3 million in the prior year period.Adjusted net income of $29.7 million compared to $44.7 million in prior year period.Adjusted EBITDA of $58.7 million compared to $73.8 million in the prior year period.Adjusted EBITDA margin of 11.7%, a 330 basis point decrease compared to the prior year period.Earnings per diluted share (“EPS”) of $0.27...