Hain Celestial: Reports Q4 and Fiscal Year 2022 Financial Results

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 fourth quarter and fiscal year ended June 30, 2022.

President and 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. Looking forward to fiscal year 2023, we remain confident in our strategy and are poised to restore net sales and Ebitda growth as the year progresses.» Financial highlights:

Summary of Fourth Quarter Results Compared to the Prior Year Period

  • Net sales increased 1.4 percent to USD 457.0 million compared to the prior year period.
  • When adjusted for foreign exchange, acquisitions, divestitures and discontinued brands, net sales decreased 0.6 percent compared to the prior year period.
  • Gross profit margin of 19.5 percent, a 550-basis point decrease from the prior year period.
  • Adjusted gross profit margin of 19.4 percent, a 630-basis point decrease from the prior year period.
  • Operating income of USD 11.9 million compared to USD 41.6 million in the prior year period.
  • Adjusted operating income of USD 19.3 million compared to USD 53.0 million in the prior year period.
  • Net income of USD 3.0 million compared to USD 40.5 million in the prior year period.
  • Adjusted net income of USD 7.6 million compared to USD 39.7 million in prior year period.
  • Adjusted Ebitda of USD 35.4 million compared to USD 68.1 million in the prior year period.
  • Adjusted Ebitda margin of 7.7 percent, a 740-basis point decrease compared to the prior year period.
  • Earnings per diluted share (EPS) of USD 0.03 compared to USD 0.40 in the prior year period.
  • Adjusted EPS of USD 0.08 compared to USD 0.39 in the prior year period.
  • Repurchased 0.5 million shares, or 0.6 percent of the outstanding common stock, at an average price of USD 26.13 per share.

Summary of Fiscal Year 2022 Results Compared to the Prior Year

  • Net sales decreased 4.0 percent to USD 1,891.8 million compared to the prior year.
  • When adjusted for foreign exchange, acquisitions, divestitures and discontinued brands, net sales decreased 0.4 percent compared to the prior year.
  • Gross profit margin of 22.6 percent, a 240-basis point decrease from the prior year.
  • Adjusted gross profit margin of 22.9 percent, a 280-basis point decrease from the prior year.
  • Operating income of USD 104.7 million compared to USD 107.4 million in the prior year.
  • Adjusted operating income of USD 141.8 million compared to USD 199.5 million in the prior year.
  • Net income of USD 77.9 million compared to USD 66.1 million in the prior year.
  • Adjusted net income of USD 95.5 million compared to USD 146.5 million in the prior year.
  • Adjusted Ebitda of USD 200.6 million compared to USD 258.9 million in the prior year.
  • Adjusted Ebitda margin of 10.6 percent, a 250-basis point decrease compared to the prior year.
  • EPS of USD 0.83 compared to USD 0.65 in the prior year.
  • Adjusted EPS of USD 1.02 compared to USD 1.45 in the prior year.
  • Repurchased 10.6 million shares, or 10.7 percent of the outstanding common stock, at an average price of USD 38.48 per share.
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