Hain Celestial Group reports decreased net sales but increased profit margins for fiscal year 2024.

From GlobeNewswire: 2024-08-27 07:00:00

The Hain Celestial Group reported strong operating cash flow and debt reduction, achieving updated guidance for fiscal 2024. The company is focused on sustainable growth for fiscal 2025, with a strategic plan in place to accelerate growth. Key financial highlights show a decrease in net sales but an increase in adjusted gross profit margin.

In the fiscal fourth quarter of 2024, Hain Celestial Group saw a 6% decrease in net sales, with an organic net sales decrease of 4%. Gross profit margin increased by 90 basis points, while adjusted gross profit margin increased by 70 basis points. Net loss was $3 million, with adjusted net income at $11 million. Adjusted EBITDA was $40 million, with a margin of 9.4%.

For the full fiscal year 2024, net sales were down 3%, with organic net sales decreasing by 2%. Gross profit margin saw a slight decrease, while adjusted gross profit margin increased. Net loss for the year was $75 million, with adjusted net income at $30 million. Adjusted EBITDA for the year was $155 million, with a margin of 8.9%.

In the North America segment, organic net sales decreased 5% in the fourth quarter and 6% for the full fiscal year. Gross profit margin increased slightly but adjusted gross profit margin decreased. Adjusted EBITDA saw a decrease, with a lower margin compared to the prior year period.

The International segment saw a 4% decline in organic net sales for the fourth quarter. Gross profit margin increased, as did adjusted gross profit margin. Adjusted EBITDA for the segment also increased. The company is focused on driving growth in both segments to deliver sustainable value to shareholders.



Read more at GlobeNewswire:: Hain Celestial Reports Fourth Quarter and Fiscal Year 2024