- Hain Celestial Group Inc HAIN reported fourth-quarter FY22 sales growth of 1.4% year-on-year to $457.01 million.
- Net sales from North America increased 17% Y/Y, driven by stronger sales in the snacks, baby, and personal care categories. International sales declined 19%, reflecting softness in the plant-based protein and beverage categories.
- Adjusted gross margin for the quarter fell 630 basis points Y/Y to 19.4%. The gross margin contracted 550 basis points to 19.5%.
- The operating margin was 2.6%, and operating income for the quarter was $11.9 million versus $41.6 million last year.
- Adjusted EBITDA of $35.4 million decreased 48% Y/Y with an adjusted EBITDA margin decline of 740 basis points to 7.7%.
- Adjusted EPS was $0.08 versus $0.39 a year back.
- The company held $65.5 million in cash and equivalents as of June 30, 2022.
- CEO Mark L. Schiller commented, "Fiscal year 2022 and Q4 presented unprecedented volatility and numerous challenges. While our results have been below our expectations and we still face challenges, especially in Europe, we exit the year with strong topline momentum in North America, improving supply chain performance, additional pricing and stabilizing total store revenues in the UK."
- Outlook: Hain Celestial expects FY22 adjusted net sales and adjusted EBITDA on a constant currency basis of -1% to +4% Y/Y.
- Price Action: HAIN shares are trading lower by 4.78% at $23.53 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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