Hain Celestial · Q3 2023 earnings

Briefing

Hain Celestial's Q3 2023 financial results were reported, with a new CEO taking steps to shape the future for growth.

Hain Celestial reported a 9% decrease in net sales to $455.2 million. The company experienced a net loss of $115.7 million, including pretax non-cash impairment charges of $156.6 million. Adjusted EPS was $0.08, compared to $0.33 in the prior year period.

• Net sales decreased by 9% to $455.2 million compared to the prior year period.
• Net loss was $115.7 million, compared to net income of $24.5 million in the prior year period, including $156.6 million in pretax non-cash impairment charges.
• Adjusted net income was $7.4 million compared to $29.7 million in the prior year period.
• Adjusted EPS was $0.08 compared to $0.33 in the prior year period.

Headline financials

Revenue & EPS history

The Company is updating its financial guidance for full year fiscal 2023 for both adjusted net sales and adjusted EBITDA on a constant currency basis compared to the prior year and now expects:Adjusted net sales to be down -4% to -3% versus prior year, and Adjusted EBITDA at constant currency to be down -15% to -13%. For the fourth quarter of fiscal 2023, the Company expects:Adjusted net sales to be down low single digit percentages versus the prior year period, Adjusted gross margins to be up year-over-year and sequentially, and Adjusted EBITDA at constant currency expected to be approximately $40 million to $44 million.