Lake Success, NY—The Hain Celestial Group has reported financial results for the fourth quarter and full fiscal year ended June 30, 2020, in a press release. The quarter saw higher sales than Q4 2019, but the year overall saw a drop in sales compared to fiscal year 2019.
Quarterly highlights include:
- Net sales increased 1% to $511.7 million, or 3% on a constant currency basis, compared to the prior year period.
- Operating income of $25.3 million compared to an operating loss of $2.6 million in the prior year period.
- Net income of $3.7 million compared to a net loss of $7.3 million in the prior year period.
- Adjusted EBITDA of $62.2 million compared to $49.4 million in the prior year period.
- Earnings per diluted share (“EPS”) of $0.04 compared to a loss of $0.07 in the prior year period.
- Repurchased 0.1 million shares, or 0.1% of the outstanding common stock, at an average price of $24.97 per share.
- Net cash provided by continuing operations of $92.8 million compared to $21.0 million in prior year period.
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Results of fiscal year 2020 include:
- Net sales decreased 2% to $2,053.9 million compared to the prior year.
- When adjusted for Foreign Exchange, Divestitures, discontinued brands and “SKU” rationalization3, net sales increased 3% compared to the prior year.
- Gross margin of 22.7%, a 374 basis point increase over the prior year.
- Operating income of $56.0 million compared to operating loss of $32.5 million in the prior year.
- Net income of $25.6 million compared to net loss of $53.4 million in the prior year.
- Adjusted EBITDA of $200.0 million compared to $165.1 million in the prior year.
- EPS of $0.25 compared to a loss of $0.51 in the prior year.
- Repurchased 2.6 million shares, or 2.4% of the outstanding common stock, at an average price of $23.59 per share.
Mark L. Schiller, Hain Celestial’s President and CEO, commented in the press release: “We are pleased to report profitability at the high-end of our expectations for the fiscal year. Our results were strong because of our team’s execution of our transformational strategic plan, which resulted in strong margin improvement and operating cash flow generation. In this dynamic operating environment, we believe we will maintain our positive momentum and remain committed to sustainable long-term growth as we deliver on our four key pillars for growth—portfolio simplification, capability building, cost control and sales acceleration.”