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Dec 31, 2023
Hain Celestial Q2 2024 Earnings Report
Hain Celestial delivered sequential improvement and fuel generation through Hain Reimagined strategy.
Key Takeaways
Hain Celestial Group reported flat net sales year-over-year at $454.1 million, with a net loss of $13.5 million. However, the company saw improvements in organic net sales, driven by growth in Meal Prep and Beverages. The company is making early progress against Hain Reimagined, especially in the delivery of fuel as planned in this foundational year of the restructure program.
Net sales were flat year-over year at $454.1 million, showing sequential improvement from the first quarter decrease of 3.3%.
Organic net sales increased 0.2% compared to the prior year period, a sequential improvement from the first quarter decrease of 2.9%.
Net loss was $13.5 million compared to net income of $11.0 million in the prior year period.
Free cash flow in the second quarter was $14.8 million compared to negative free cash flow of $4.4 million in the prior year period.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company is revising guidance for fiscal 2024 with organic net sales growth of approximately 1% or more, Adjusted EBITDA between $155 million and $160 million, and free cashflow of $40 to $45 million.
Positive Outlook
- Making early progress against Hain Reimagined.
- Delivery of fuel as planned in this foundational year of the restructure program.
- Accelerated some of the initiatives outlined in the Focus Pillar, primarily portfolio and channel mix improvements.
Challenges Ahead
- Expected to create near-term revenue headwind as we rationalize lower margin SKUs and sales.
- Taking a more conservative view of the balance of fiscal 2024.
- Expect less of a tailwind from foreign exchange than when we initially provided guidance in August.
- Organic net sales growth of approximately 1% or more, compared to previous guidance of 2% to 4% growth.
- Free cashflow of $40 to $45 million, compared to previous guidance of $50 to $55 million, reflecting costs associated with Hain Reimagined.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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