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Hain Celestial profit beats but sales miss

Hain Celestial Group Inc. (HAIN) reported fiscal second-quarter net income of $30.9 million, or 33 cents per share, up from $2.1 million, or 2 cents per share, last year. Adjusted EPS of 36 cents beat the FactSet consensus for 33 cents. Sales of $476.9 million were down from $528.4 million and below the FactSet consensus of $481.5 million. "We have utilized aggressive pricing and productivity to offset most of the cost headwinds and have revised guidance to reflect the expectation of accelerating topline growth in the second half of the year and continued elevated supply chain costs and disruptions," said Mark Schiller, chief executive of the food, beverage, and personal care company. Hain Celestial brands include Garden of Eatin', Health Valley and Terra. Hain stock is down 11.3% over the past year while the S&P 500 index is up 20%.

-Tonya Garcia

 

(END) Dow Jones Newswires

02-05-22 0412ET

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