Hain Celestial Q1 sales misses estimates
Overview
Health and wellness food maker's fiscal Q1 net sales fell 29% yr/yr, organic sales down 7%
Adjusted net loss for fiscal Q1 was slightly lower from prior year
Adjusted gross margin rose 320 bps to 22.8% in fiscal Q1
Outlook
Company did not provide specific financial guidance for the current or future periods
Result Drivers
DIVESTITURES AND EXITS - Co said 22% of net sales decline was due to divestitures, discontinued brands and exited product categories
LOWER VOLUME/MIX - Organic net sales fell 7%, primarily due to a 7-point decrease in volume/mix, partly offset by 1-point increase in pricing
GROSS MARGIN IMPROVEMENT - Co attributed higher gross margin to progress on commercial and portfolio actions, including North American Snacks transaction
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Sales | Miss | $260.3 mln | $283.03 mln (2 Analysts) |
Q1 Adjusted Net Loss | $6.628 mln | ||
Q1 Net Loss | $11.3 mln | ||
Q1 Adjusted Gross Margin | 22.80% |
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)