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Hain Celestial Q1 sales misses estimates

By Reuters News


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%


Reuters Recommended Reads

  • Nov 6 - Under Armour Q2 revenue falls 7%, misses estimates

  • Nov 6 - Wendy's Q3 adjusted revenue misses estimates, hurt by weaker US demand

  • Nov 9 - Bedding maker Somnigroup's Q3 results, FY forecast miss estimates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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