Lake Success / NY. (hc) The Hain Celestial Group Inc., a leading organic and natural products company with operations in North America, Europe and India providing consumers with A Healthier Way of Life, reported financial results for the first quarter ended September 30, 2019. The results contained herein are presented with the Hain Pure Protein and Tilda operating segments being treated as discontinued operations.
«We are pleased to report strong first quarter results that are consistent with both our fiscal year 2020 guidance and the long-term strategy we announced at our Investor Day last February,» commented Mark L. Schiller, Hain Celestial’s President and Chief Executive Officer. «Our transformational strategic plan to simplify the portfolio and strengthen capabilities, while expanding margins and cash flow is on track and we are confident in our ability to reinvigorate top-line growth over time. We are reiterating our fiscal year 2020 guidance and look forward to creating shareholder value as we continue to execute on our initiatives.»
Financial Highlights
Summary of First Quarter Results from Continuing Operations
- Net sales decreased 7 percent to USD 482.1 million or 5 percent on a constant currency basis compared to the prior year period.
- When adjusted for Foreign Exchange and Acquisitions, Divestitures and certain other items, including the Stock Keeping Unit (SKU) rationalization3, net sales decreased 1 percent compared to the prior year period.
- Gross margin of 20.3 percent, a 320 basis point increase over the prior year period.
- Adjusted gross margin of 20.9 percent, a 240 basis point increase over the prior year period.
- Operating income of USD 2.5 million compared to operating loss of USD 28.0 million in the prior year period.
- Adjusted operating income of USD 16.9 million compared to USD 17.0 million in the prior year period.
- Net loss of USD 5.0 million compared to a net loss of USD 23.1 million in the prior year period.
- Adjusted net income of USD 8.4 million compared to USD 9.0 million in prior year period.
- Ebitda of USD 17.7 million compared to a loss of USD 11.3 million in the prior year period.
- Ebitda margin of 3.7 percent, a 590 basis point improvement over the prior year period.
- Adjusted Ebitda of USD 32.1 million compared to USD 28.7 million in the prior year period.
- Adjusted Ebitda margin of 6.7 percent, a 110 basis point increase compared to the prior year period.
- Loss per diluted share of USD 0.05 compared to USD 0.22 in the prior year period.
- Adjusted earnings per diluted share (EPS) of USD 0.08 compared to USD 0.09 in the prior year period.
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