Lake Success, NY—The Hain Celestial Group has reported financial results for the first quarter 2021 ended September 30, 2020. A press release from the company notes that the results are presented with the Hain Pure Protein and Tilda segments being treated as discontinued operations.
- Net sales increased 3%, to $498.6 million, compared to the prior year period.
- Net sales increased 5% compared to the prior year period, when adjusted to exclude the effects of foreign exchange, divestitures and discontinued brands.
- Gross margin of 23.9%, a 360 basis point increase from the prior year period.
- Operating income of $3.3 million compared to $2.5 million in the prior year period.
- Net loss of $10.8 million, primarily driven by the United Kingdom fruit business impairment of $32.5 million, compared to $5.0 million in the prior year period.
- Adjusted net income of $27.4 million compared to $8.4 million in prior year period.
- Adjusted EBITDA of $54.9 million compared to $32.1 million in the prior year period.
- Loss per diluted share of $0.11 compared to $0.05 in the prior year period.
- Adjusted earnings per diluted share (“EPS”) of $0.27 compared to $0.08 in the prior year period.
- Repurchased 1.3 million shares, or 1.3% of the outstanding common stock, at an average price of $32.81 per share.
Mark L. Schiller, Hain Celestial’s President and CEO, commented in the press release, “We are very pleased with our first quarter results, which exceeded our initial expectations of several hundred basis points of margin expansion, significant growth in adjusted EBITDA and mid-single digit adjusted net sales growth. The strength in adjusted earnings, in both the North America and International segments once again showcases our continued ability to execute against our transformational plan. While the current macro operating environment remains fluid, we remain confident and committed to sustainable long-term growth, including continued gross and adjusted EBITDA margin expansion and double-digit adjusted EBITDA growth in fiscal year 2021.”