Hain Celestial Trims FY24 Sales Growth Outlook; Q2 Adj. EPS Meets Estimates
(RTTNews) - While reporting financial results for the second quarter on Tuesday, organic and natural products company Hain Celestial Group, Inc. (HAIN) trims its organic net sales growth guidance for the full year 2024.
For fiscal 2024, the company now projects organic net sales growth of approximately 1 percent or more, compared to previous guidance of 2 to 4 percent growth.
On average, 12 analysts polled by Thomson Reuters expect the company to report a sales decline of 2.1 percent to $1.84 billion for the year.
For the second quarter, the company posted a net loss of $13.54 million or $0.15 per share, compared to net income of $10.97 million or $0.12 per share in the prior-year quarter. Excluding items, adjusted earnings for the quarter was $0.12 per share, compared to $0.20 per share in the year-ago quarter.
Net sales for the quarter edged down to $454.10 million from $454.21 million in the same quarter last year. Organic net sales edged up 0.2 percent, when adjusted for foreign exchange, acquisitions, divestitures and discontinued brands.
The Street was looking for earnings of $0.12 per share on revenues of $462.05 million for the quarter.
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