Lake Success, NY—The Hain Celestial Group has reported financial results for the third quarter 2021 ended March 31, 2021, in a press release.
- Net sales decreased 11% to $492.6 million compared to the prior year period. When adjusted to exclude the effects of foreign exchange, divestitures and discontinued brands, net sales decreased 6% compared to the prior year period.
- Gross margin of 26.4%, a 244 basis point increase from the prior year period.
- Operating income of $49.6 million compared to $19.1 million in the prior year period.
- Net income of $34.3 million compared to $25.0 million in the prior year period.
- Adjusted EBITDA of $73.8 million compared to $60.7 million in the prior year period.
- Earnings per diluted share (“EPS”) of $0.34 compared to $0.24 in the prior year period.
- Repurchased 0.2 million shares, or 0.2% of the outstanding common stock, at an average price of $41.86 per share.
Hain expects a strong gross margin and EBITDA margin improvement in the fourth quarter, as well as mid-single digit growth in net sales when compared to fiscal year 2019.
Mark L. Schiller, Hain Celestial’s President and Chief Executive Officer, commented, “We are pleased with our strong third quarter results. We successfully lapped the March 2020 stock up period to deliver sales in line with our guidance, several hundred basis points of margin improvement and strong adjusted EBITDA growth. I am extremely proud of our team which continues to execute more than a full year into this challenging macro operating environment. As a result, I remain confident we will continue to see growth in our get bigger businesses, solid margin expansion and profit growth as we progress through the remainder of fiscal year 2021.”