Hain Celestial Q1 sales miss estimates
HAIN•Hain Celestial reported fiscal first-quarter net sales of $260.3 million, below the $283.03 million consensus estimate, as sales fell 29% year over year and organic sales declined 7%. Adjusted gross margin rose 320 basis points to 22.8%.
1. Quarterly results
Hain Celestial’s fiscal first-quarter net sales fell 29% year over year to $260.3 million, below the $283.03 million estimate. Organic net sales declined 7%, primarily due to a 7-point decrease in volume and mix, partly offset by a 1-point increase in pricing. Adjusted net loss was $6.628 million, slightly lower than a year earlier, while adjusted gross margin rose 320 basis points to 22.8%. The company did not provide specific financial guidance for current or future periods.
