Lake Success / NY. (hc) The Hain Celestial Group Inc., a leading organic and natural products company with operations in North America, Europe and India providing consumers with A Healthier Way of Life, reported financial results for the third quarter ended March 31, 2021. The results contained herein are presented with the Hain Pure Protein and Tilda operating segments being treated as discontinued operations. All growth comparisons are against the corresponding prior year period unless otherwise noted.
President and Chief Executive Officer Mark L. Schiller: «We are pleased with our strong third quarter results. We successfully lapped the March 2020 stock up period to deliver sales in line with our guidance, several hundred basis points of margin improvement and strong adjusted Ebitda growth. I am extremely proud of our team which continues to execute more than a full year into this challenging macro operating environment. As a result, I remain confident we will continue to see growth in our get bigger businesses, solid margin expansion and profit growth as we progress through the remainder of fiscal year 2021.»
Summary of Third Quarter Results from Continuing Operations
- Net sales decreased 11 percent to USD 492.6 million compared to the prior year period.
- When adjusted to exclude the effects of foreign exchange, divestitures and discontinued brands, net sales decreased 6 percent compared to the prior year period.
- Gross margin of 26.4 percent, a 244 basis point increase from the prior year period.
- Adjusted gross margin of 27.4 percent, a 317 basis point increase from the prior year period.
- Operating income of USD 49.6 million compared to USD 19.1 million in the prior year period.
- Adjusted operating income of USD 59.7 million compared to USD 45.7 million in the prior year period.
- Net income of USD 34.3 million compared to USD 25.0 million in the prior year period.
- Adjusted net income of USD 44.7 million compared to USD 28.8 million in the prior year period.
- Adjusted Ebitda of USD 73.8 million compared to USD 60.7 million in the prior year period.
- Adjusted Ebitda margin of 15.0 percent, a 400 basis point increase compared to the prior year period.
- Earnings per diluted share (EPS) of USD 0.34 compared to USD 0.24 in the prior year period.
- Adjusted EPS of USD 0.44 compared to USD 0.28 in the prior year period.
- Repurchased 0.2 million shares, or 0.2 percent of the outstanding common stock, at an average price of USD 41.86 per share.
For additional information please read the Company’s PDF file below (84 KB):20210512-HAINCELESTIAL-Q3-2021