Lake Success, NY—The Hain Celestial Group has reported financial results for the second quarter ended December 31, 2019, in a press release.
- Net sales of $506.8 million decreased 5% compared to the prior year period. When adjusted for foreign exchange, divestitures, and SKU rationalization, net sales decreased 1%.
- Gross margin of 20.8%, a 180 basis point increase from the prior year period.
- Operating income of $9.2 million compared to an operating loss of $20.9 million in the prior year period.
- Net income of $1.9 million compared to a net loss of $31.8 million in the prior year period.
- EBITDA of $24.9 million compared to $12.2 million in the prior year period.
- Earnings per diluted share of $0.02 compared to a loss of $0.31 per share in the prior year period.
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Mark L. Schiller, President and CEO of Hain Celestial, said in the release: “Our team continues to execute on our transformational strategic plan, as we demonstrate another quarter of operational and financial improvement on a year-over-year basis. We have made significant progress in a very short period of time. We are delivering on the commitments we communicated to further simplify the portfolio and organization, strengthen our core capabilities, expand our margins and cash flow as well as reinvigorate profitable sales growth in a core set of high potential brands. We remain committed to delivering strong, consistent results for all our stakeholders.”