Hain Celestial Reports Fourth Quarter and Fiscal Year 2024 Financial Results
Hain Celestial Group (Nasdaq: HAIN) reported its Q4 and FY 2024 financial results, highlighting strong operating cash flow and debt reduction. Net sales for Q4 were $419 million, down 6% year-over-year, while organic net sales decreased by 4%. The gross profit margin improved to 23.4%, up 90 basis points from the prior year. Despite a net loss of $3 million in Q4, adjusted net income was $11 million, an increase from $10 million the previous year. For FY 2024, net sales were $1,736 million, a 3% decline year-over-year, with an adjusted gross profit margin of 22.4%. Net loss was $75 million, an improvement from $117 million the previous year. Adjusted EPS was $0.33, down from $0.50 in the prior year. The company reduced net debt by $86 million, ending with a leverage ratio of 3.7x. Hain Celestial expects to achieve flat or better organic net sales growth and mid-single-digit EBITDA growth in FY 2025.
Hain Celestial Group (Nasdaq: HAIN) ha riportato i risultati finanziari per il Q4 e l'anno fiscale 2024, evidenziando un forte flusso di cassa operativo e una riduzione del debito. Le vendite nette per il Q4 sono state di $419 milioni, in calo del 6% rispetto all'anno precedente, mentre le vendite nette organiche sono diminuite del 4%. Il margine di profitto lordo è migliorato al 23,4%, con un aumento di 90 punti base rispetto all'anno precedente. Nonostante una perdita netta di $3 milioni nel Q4, il reddito netto adjusted è stato di $11 milioni, in aumento rispetto ai $10 milioni dell'anno precedente. Per l'anno fiscale 2024, le vendite nette sono state di $1.736 milioni, con un calo del 3% rispetto all'anno precedente, e un margine di profitto lordo adjusted del 22,4%. La perdita netta è stata di $75 milioni, un miglioramento rispetto ai $117 milioni dell'anno precedente. L'EPS adjusted è stato di $0,33, in calo rispetto a $0,50 dell'anno precedente. L'azienda ha ridotto il debito netto di $86 milioni, chiudendo con un rapporto di leverage di 3,7x. Hain Celestial prevede di raggiungere una crescita delle vendite nette organiche piatta o migliore e una crescita dell'EBITDA a un cifra medio-bassa nell'anno fiscale 2025.
Hain Celestial Group (Nasdaq: HAIN) reportó sus resultados financieros del Q4 y el año fiscal 2024, destacando un fuerte flujo de caja operativo y reducción de deuda. Las ventas netas para el Q4 fueron de $419 millones, un 6% menos en comparación al año anterior, mientras que las ventas netas orgánicas disminuyeron un 4%. El margen de beneficio bruto mejoró al 23.4%, un aumento de 90 puntos básicos respecto al año anterior. A pesar de una pérdida neta de $3 millones en el Q4, el ingreso neto ajustado fue de $11 millones, un incremento frente a los $10 millones del año pasado. Para el año fiscal 2024, las ventas netas alcanzaron los $1,736 millones, una disminución del 3% en comparación al año anterior, con un margen de beneficio bruto ajustado del 22.4%. La pérdida neta fue de $75 millones, una mejora respecto a los $117 millones del año anterior. El EPS ajustado fue de $0.33, bajando de $0.50 del año previo. La compañía redujo su deuda neta en $86 millones, terminando con una relación de apalancamiento de 3.7x. Hain Celestial espera lograr un crecimiento plano o mejor de las ventas netas orgánicas y un crecimiento del EBITDA de un solo dígito medio en el año fiscal 2025.
헤인 셀레스티얼 그룹 (Nasdaq: HAIN)은 2024 회계연도 4분기 및 전체 회계연도 재무 결과를 발표하며 강력한 운영 현금 흐름과 부채 감소를 강조했습니다. 4분기 순매출은 4억 1900만 달러로 전년 대비 6% 감소했으며, 유기농 순매출은 4% 감소했습니다. 총 이익률은 23.4%로 개선되어 전년 대비 90bp 상승했습니다. 4분기 순손실이 300만 달러였음에도 불구하고 조정된 순이익은 1100만 달러로, 전년의 1000만 달러에서 증가했습니다. 2024 회계연도의 순매출은 17억 3600만 달러로, 전년 대비 3% 감소했으며, 조정된 총 이익률은 22.4%였습니다. 순손실은 7500만 달러로, 전년의 1억 1700만 달러에서 개선되었습니다. 조정 EPS는 0.33달러로, 전년의 0.50달러에서 감소했습니다. 이 회사는 순부채를 8600만 달러 줄여 레버리지 비율이 3.7배로 마감되었습니다. 헤인 셀레스티얼은 2025 회계연도에 유기농 순매출 성장률이 평평하거나 더 높고, 중간 한 자릿수의 EBITDA 성장을 달성할 것으로 기대하고 있습니다.
Hain Celestial Group (Nasdaq: HAIN) a publié ses résultats financiers pour le quatrième trimestre et l'année fiscale 2024, mettant en avant un fort flux de trésorerie opérationnel et une réduction de la dette. Les ventes nettes pour le quatrième trimestre se sont élevées à 419 millions de dollars, en baisse de 6 % par rapport à l'année précédente, tandis que les ventes nettes organiques ont diminué de 4 %. La marge brute a été améliorée à 23,4 %, soit une augmentation de 90 points de base par rapport à l'année précédente. Malgré une perte nette de 3 millions de dollars au quatrième trimestre, le revenu net ajusté a été de 11 millions de dollars, en hausse par rapport aux 10 millions de dollars de l'année précédente. Pour l'exercice 2024, les ventes nettes ont atteint 1 736 millions de dollars, soit une baisse de 3 % par rapport à l'année précédente, avec une marge brute ajustée de 22,4 %. La perte nette s'élevait à 75 millions de dollars, une amélioration par rapport aux 117 millions de dollars de l'année précédente. Le BPA ajusté était de 0,33 dollar, en baisse par rapport à 0,50 dollar l'année précédente. L'entreprise a réduit sa dette nette de 86 millions de dollars, finissant avec un ratio d'endettement de 3,7x. Hain Celestial s'attend à atteindre une croissance des ventes nettes organiques plate ou meilleure et une croissance de l'EBITDA à un chiffre intermédiaire pour l'exercice 2025.
Hain Celestial Group (Nasdaq: HAIN) hat seine finanziellen Ergebnisse für Q4 und das Geschäftsjahr 2024 veröffentlicht und dabei einen starken operativen Cashflow und Schuldenabbau hervorgehoben. Der Nettoumsatz für das Q4 betrug 419 Millionen Dollar, was einem Rückgang von 6% im Jahresvergleich entspricht, während der organische Nettoumsatz um 4% sank. Die Bruttogewinnmarge verbesserte sich auf 23,4%, ein Anstieg um 90 Basispunkte im Vergleich zum Vorjahr. Trotz eines Nettoverlusts von 3 Millionen Dollar im Q4 betrug der bereinigte Nettoertrag 11 Millionen Dollar, ein Anstieg im Vergleich zu 10 Millionen Dollar im Vorjahr. Für das Geschäftsjahr 2024 betrug der Nettoumsatz 1.736 Millionen Dollar, ein Rückgang um 3% im Jahresvergleich, mit einer bereinigten Bruttogewinnmarge von 22,4%. Der Nettoverlust betrug 75 Millionen Dollar, eine Verbesserung gegenüber 117 Millionen Dollar im Vorjahr. Der bereinigte Gewinn pro Aktie betrug 0,33 Dollar, ein Rückgang gegenüber 0,50 Dollar im Vorjahr. Das Unternehmen hat die Nettoverbindlichkeiten um 86 Millionen Dollar reduziert und schloss mit einem Verschuldungsgrad von 3,7x. Hain Celestial erwartet, im Geschäftsjahr 2025 ein flaches oder besseres organisches Nettoumsatzwachstum sowie ein EBITDA-Wachstum im mittleren einstelligen Bereich zu erreichen.
- Net debt reduced by $86 million.
- Gross profit margin increased to 23.4% in Q4.
- Adjusted net income for Q4 rose to $11 million.
- Adjusted EPS for Q4 increased to $0.13.
- Net sales for Q4 decreased by 6%.
- Net loss of $3 million in Q4.
- Adjusted EBITDA for Q4 was $40 million, down from $44 million.
- FY 2024 net sales decreased by 3%.
- Adjusted EPS for FY 2024 dropped to $0.33 from $0.50.
Insights
Hain Celestial's Q4 and FY2024 results show mixed performance. While the company achieved its updated guidance, there are some concerning trends:
- Q4 net sales decreased
6% year-over-year to$419 million , with organic net sales down4% . - FY2024 net sales declined
3% to$1.736 billion , with organic net sales down2% . - Q4 adjusted EBITDA fell to
$40 million from$44 million last year, with margin decreasing 30 basis points to9.4% . - FY2024 adjusted EBITDA decreased to
$155 million from$167 million , with margin down 40 basis points to8.9% .
On the positive side, the company reduced net debt by
Hain Celestial's performance reflects broader challenges in the health and wellness sector. Key observations:
- North America segment struggled with a
5% Q4 organic sales decline, primarily due to weakness in personal care and infant formula. - International segment saw a
4% Q4 organic sales decline, mainly in plant-based meat alternatives and snacks. - Beverages showed resilience with
3% Q4 and6% FY2024 organic growth, driven by non-dairy beverages and tea. - Personal Care category faced significant headwinds, with a
17% Q4 and20% FY2024 organic sales decline.
The company's focus on simplification and cost-cutting may help stabilize performance, but revitalizing growth in key categories like plant-based products and personal care will be important for long-term success.
Delivers Strong Operating Cash Flow, Debt Reduction & Achieves Updated Guidance
Company Positioned to Deliver Sustainable Growth in Fiscal 2025
HOBOKEN, N.J., Aug. 27, 2024 (GLOBE NEWSWIRE) -- Hain Celestial Group (Nasdaq: HAIN), a leading global health and wellness company whose purpose is to inspire healthier living through better-for-you brands, today reported financial results for its fourth quarter and fiscal year ended June 30, 2024.
“Fiscal 2024 was the foundational year of our Hain Reimagined strategy, during which we made substantial progress in simplifying our business and generating fuel. We transitioned to a global operating model, reducing geographic complexity and driving scale, and developed a performance-driven, values-based culture,” said Wendy Davidson, President and CEO. “Our fuel initiatives exceeded our targets for fiscal 2024, allowing us to pay down debt, invest in capabilities, and to deliver on our updated full-year guidance.”
Davidson added, “Building on this solid foundation, in fiscal 2025 we will focus on commercial execution to accelerate top- and bottom-line growth. We remain confident in our Hain Reimagined strategy, the strength of our diversified portfolio and geographic footprint, the benefits of our scale model, and our ability to deliver sustainable growth and long-term value to shareholders.”
“We are pleased with our free cash flow generation in fiscal 2024 which came in above our expectations for the year. This strong performance enabled us to reduce net debt by
FINANCIAL HIGHLIGHTS*
Summary of Fiscal Fourth Quarter Results Compared to the Prior Year Period
- Net sales were
$419 million , down6% year-over year.- Organic net sales decreased
4% compared to the prior year period.
- Organic net sales decreased
- Gross profit margin was
23.4% , a 90-basis point increase from the prior year period.- Adjusted gross profit margin was
23.4% , a 70-basis point increase from the prior year period.
- Adjusted gross profit margin was
- Net loss was
$3 million compared to net loss of$19 million in the prior year period.- Adjusted net income was
$11 million compared to adjusted net income of$10 million in the prior year period.
- Adjusted net income was
- Net loss margin was (
0.7% ), as compared to net loss margin of (4.2% ) in the prior year period.- Adjusted net income margin was
2.7% , as compared to2.2% in the prior year period.
- Adjusted net income margin was
- Adjusted EBITDA was
$40 million compared to$44 million in the prior year period; Adjusted EBITDA margin was9.4% , a 30-basis point decrease compared to the prior year period. - Loss per diluted share was
$0.03 compared to$0.21 in the prior year period.- Adjusted earnings per share (“EPS”) was
$0.13 compared to$0.11 in the prior year period.
- Adjusted earnings per share (“EPS”) was
_________________________
* This press release includes certain non-GAAP financial measures, which are intended to supplement, not substitute for, comparable GAAP financial measures. Reconciliations of non-GAAP financial measures to GAAP financial measures and other non-GAAP financial calculations are provided in the tables included in this press release.
Summary of Fiscal Full Year 2024 Results Compared to the Prior Year
- Net sales were
$1,736 million , down3% year-over year.- Organic net sales decreased
2% compared to the prior year. The decrease in organic net sales is inclusive of approximately 1 percentage point of benefit from foreign exchange.
- Organic net sales decreased
- Gross profit margin was
21.9% , a 10-basis point decrease from the prior year.- Adjusted gross profit margin was
22.4% , a 30-basis point increase from the prior year.
- Adjusted gross profit margin was
- Net loss was
$75 million compared to net loss of$117 million in the prior year.- Adjusted net income was
$30 million compared to adjusted net income of$45 million in the prior year.
- Adjusted net income was
- Net loss margin was (
4.3% ), as compared to net loss margin of (6.5% ) in the prior year.- Adjusted net income margin was
1.7% , as compared to2.5% in the prior year.
- Adjusted net income margin was
- Adjusted EBITDA was
$155 million compared to$167 million in the prior year; Adjusted EBITDA margin was8.9% , a 40-basis point decrease compared to the prior year. - Loss per diluted share was
$0.84 compared to$1.30 in the prior year.- Adjusted EPS was
$0.33 compared to$0.50 in the prior year.
- Adjusted EPS was
Cash Flow and Balance Sheet Highlights
- Net cash provided by operating activities in the fiscal fourth quarter was
$39 million compared to$41 million in the prior year period. - Free cash flow in the fiscal fourth quarter was
$31 million compared to$34 million in the prior year period. - Total debt at the end of the fiscal year was
$744 million down from$829 million at the beginning of the fiscal year. - Net debt at the end of the fiscal year was
$690 million compared to$775 million at the beginning of the fiscal year. - The company ended the fiscal year with a net secured leverage ratio of 3.7x as calculated under our amended credit agreement as compared to 4.3x at the beginning of the fiscal year.
SEGMENT HIGHLIGHTS
The company operates under two reportable segments: North America and International.
| Net Sales | ||||||||||
| Quarter Ended June 30, 2024 | Year Ended June 30, 2024 | |||||||||
| $ Millions | Reported Growth Y/Y | M&A/Exit Impact1 | Organic Growth Y/Y2 | FX Impact2 | $ Millions | Reported Growth Y/Y | M&A/Exit Impact1 | Organic Growth Y/Y2 | FX Impact2 | |
| North America | 260 | - | - | - | 1,056 | - | - | - | ||
| International | 159 | - | - | 681 | ||||||
| Total | 419 | - | - | - | 1,736 | - | - | - | ||
1 Reflects the impact within reported net sales growth of the following items that are excluded from organic net sales growth: net sales from divested brands (Thinsters® snacks brand and Queen Helene® personal care brand), discontinued brands, and exited product categories.
2 For fiscal 2024, organic net sales growth is not adjusted for the impact of foreign exchange.
North America
The fiscal fourth quarter organic net sales decrease was
Segment gross profit in the fiscal fourth quarter was
Adjusted EBITDA in the fiscal fourth quarter was
For fiscal 2024, North America organic net sales decreased
Segment gross profit in fiscal 2024 was
Adjusted EBITDA in fiscal 2024 was
International
The fiscal fourth quarter organic net sales decline was
Segment gross profit in the fiscal fourth quarter was
Adjusted EBITDA in the fiscal fourth quarter was
For fiscal 2024, organic net sales increased
Segment gross profit in fiscal 2024 was
Adjusted EBITDA in fiscal 2024 was
CATEGORY HIGHLIGHTS
| Net Sales | ||||||||||
| Quarter Ended June 30, 2024 | Year Ended June 30, 2024 | |||||||||
| $ Millions | Reported Growth Y/Y | M&A/Exit Impact1 | Organic Growth Y/Y2 | FX Impact2 | $ Millions | Reported Growth Y/Y | M&A/Exit Impact1 | Organic Growth Y/Y2 | FX Impact2 | |
| Snacks | 121 | - | - | 463 | - | - | - | |||
| Baby & Kids | 64 | - | - | 253 | - | - | ||||
| Beverages | 56 | - | 253 | |||||||
| Meal Prep | 149 | - | - | 662 | - | |||||
| Personal Care | 29 | - | - | - | 105 | - | - | - | ||
| Total | 419 | - | - | - | 1,736 | - | - | - | ||
1 Reflects the impact within reported net sales growth of the following items that are excluded from organic net sales growth: net sales from divested brands (Thinsters® snacks brand and Queen Helene® personal care brand), discontinued brands, and exited product categories.
2 For fiscal 2024, organic net sales growth is not adjusted for the impact of foreign exchange.
Snacks
Fiscal fourth quarter organic net sales growth was flat year-over-year, driven primarily by growth in Terra® and Garden Veggie Snacks™, offset by softness in Hartley’s® Jelly. For fiscal 2024, organic net sales growth was down
Baby & Kids
The fiscal fourth quarter organic net sales decline of
Beverages
Fiscal fourth quarter organic net sales growth was
Meal Prep
The fiscal fourth quarter organic net sales decline of
Personal Care
The fiscal fourth quarter organic net sales decline was
FISCAL 2025 GUIDANCE*
The company is offering the following guidance for fiscal 2025:
- Organic net sales growth is expected to be flat or better.
- The definition of organic net sales will be updated for fiscal 2025 to exclude the impact of foreign exchange in addition to the impact of acquisitions, divestitures, discontinued brands and exited product categories.
- Adjusted EBITDA is expected to grow by mid-single-digits.
- Gross margin is expected to increase by at least 125 basis points.
- Free cash flow is expected to be at least
$60 million .
* The forward-looking non-GAAP financial measures included in this section are not reconciled to the comparable forward-looking GAAP financial measures. The company is not able to reconcile these forward-looking non-GAAP financial measures to their most directly comparable forward-looking GAAP financial measures without unreasonable efforts because the company is unable to predict with a reasonable degree of certainty the type and extent of certain items that would be expected to impact GAAP measures but would not impact the non-GAAP measures. Such items may include certain litigation and related expenses, transaction costs associated with acquisitions and divestitures, productivity and transformation costs, impairments, gains or losses on sales of assets and businesses, foreign exchange movements and other items. The unavailable information could have a significant impact on the company’s GAAP financial results.
Conference Call and Webcast Information
Hain Celestial will host a conference call and webcast today at 8:00 AM ET to discuss its results and business outlook. The live webcast and accompanying presentation are available under the Investors section of the company’s corporate website at www.hain.com. Investors and analysts can access the live call by dialing 877-407-9716 or 201-493-6779. Participation by the press and public in the Q&A session will be in listen-only mode. A replay of the call will be available approximately shortly after the conclusion of the live call until Tuesday, September 3, 2024, and can be accessed by dialing 844-512-2921 or 412-317-6671 and referencing the conference access ID: 13747882.
About The Hain Celestial Group
Hain Celestial Group is a leading health and wellness company whose purpose is to inspire healthier living for people, communities and the planet through better-for-you brands. For more than 30 years, Hain has intentionally focused on delivering nutrition and well-being that positively impacts today and tomorrow. Headquartered in Hoboken, N.J., Hain Celestial's products across snacks, baby/kids, beverages, meal preparation, and personal care, are marketed and sold in over 70 countries around the world. Our leading brands include Garden Veggie Snacks™, Terra® chips, Garden of Eatin'® snacks, Hartley’s® Jelly, Earth's Best® and Ella's Kitchen® baby and kids foods, Celestial Seasonings® teas, Joya® and Natumi® plant-based beverages, Greek Gods® yogurt, Cully & Sully®, Yorkshire Provender®, New Covent Garden® and Imagine® soups, Yves® and Linda McCartney's® (under license) meat-free, and Avalon Organics® personal care, among others. For more information, visit hain.com and LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties and assumptions. If the risks or uncertainties ever materialize or the assumptions prove incorrect, our results may differ materially from those expressed or implied by such forward-looking statements. The words “believe,” “expect,” “anticipate,” “may,” “should,” “plan,” “intend,” “potential,” “will” and similar expressions are intended to identify such forward-looking statements. Forward-looking statements include, among other things: our beliefs or expectations relating to our future performance, results of operations and financial condition; our strategic initiatives, including statements related to Hain Reimagined; our business strategy; our supply chain, including the availability and pricing of raw materials; our brand portfolio; pricing actions and product performance; inflation rates; and current or future macroeconomic trends.
Risks and uncertainties that may cause actual results to differ materially from forward-looking statements include: challenges and uncertainty resulting from the impact of competition; our ability to manage our supply chain effectively; input cost inflation, including with respect to freight and other distribution costs; disruption of operations at our manufacturing facilities; reliance on independent contract manufacturers; changes to consumer preferences; customer concentration; our ability to execute our cost reduction initiatives and related strategic initiatives; reliance on independent distributors; risks associated with operating internationally; the availability of organic ingredients; risks associated with outsourcing arrangements; risks associated with geopolitical conflicts or events; our ability to identify and complete acquisitions or divestitures and our level of success in integrating acquisitions; our reliance on independent certification for a number of our products; our ability to attract and retain highly skilled people; risks related to tax matters; impairments in the carrying value of goodwill or other intangible assets; the reputation of our company and our brands; our ability to use and protect trademarks; foreign currency exchange risk; general economic conditions; compliance with our credit agreement; cybersecurity incidents; disruptions to information technology systems; the impact of climate change and related disclosure regulations; liabilities, claims or regulatory change with respect to environmental matters; pending and future litigation, including litigation relating to Earth’s Best® baby food products; potential liability if our products cause illness or physical harm; the highly regulated environment in which we operate; compliance with data privacy laws; the adequacy of our insurance coverage; and other risks and matters described in our most recent Annual Report on Form 10-K and our other filings from time to time with the U.S. Securities and Exchange Commission.
We undertake no obligation to update forward-looking statements to reflect actual results or changes in assumptions or circumstances, except as required by applicable law.
Non-GAAP Financial Measures
This press release and the accompanying tables include non-GAAP financial measures, including, among others, organic net sales, adjusted operating income and its related margin, adjusted gross profit and its related margin, adjusted net income and its related margin, adjusted earnings per diluted share, adjusted EBITDA and its related margin, free cash flow and net debt. The reconciliations of historic non-GAAP financial measures to the comparable GAAP financial measures are provided in the tables below. These non-GAAP financial measures should not be considered in isolation or as a substitute for the comparable GAAP measures. In addition, these non-GAAP measures may not be the same as similar measures provided by other companies due to potential differences in methods of calculation and items being excluded. They should be read only in connection with the company’s consolidated financial statements presented in accordance with GAAP.
We define our non-GAAP financial measures as follows:
- Organic net sales (for fiscal 2024): net sales excluding the impact of acquisitions, divestitures, discontinued brands and exited product categories. To adjust organic net sales for the impact of acquisitions, the net sales of an acquired business are excluded from fiscal quarters constituting or falling within the current period and prior period where the applicable fiscal quarter in the prior period did not include the acquired business for the entire quarter. To adjust organic net sales for the impact of divestitures, discontinued brands and exited product categories, the net sales of a divested business, discontinued brand or exited product category are excluded from all periods.
Organic net sales (for fiscal 2025): net sales excluding the impact of acquisitions, divestitures, discontinued brands and exited product categories and foreign exchange. To adjust organic net sales for the impact of acquisitions, the net sales of an acquired business are excluded from fiscal quarters constituting or falling within the current period and prior period where the applicable fiscal quarter in the prior period did not include the acquired business for the entire quarter. To adjust organic net sales for the impact of divestitures, discontinued brands and exited product categories, the net sales of a divested business, discontinued brand or exited product category are excluded from all periods. To adjust organic net sales for the impact of foreign exchange, current period net sales for entities reporting in currencies other than the U.S. dollar are translated into U.S. dollars at the average monthly exchange rates in effect during the corresponding period of the prior fiscal year, rather than at the actual average monthly exchange rate in effect during the current period of the current fiscal year.
- Adjusted gross profit and its related margin: gross profit, before plant closure related costs, net, warehouse and manufacturing consolidation and other costs, net, and other costs.
- Adjusted operating income and its related margin: operating loss before certain litigation expenses, net, plant closure related costs, net, productivity and transformation costs, CEO succession costs, warehouse and manufacturing consolidation and other costs, net, costs associated with acquisitions, divestitures and other transactions, and intangibles and long-lived asset impairments.
- Adjusted net income and its related margin and diluted net income per common share, as adjusted: net loss, adjusted to exclude the impact of certain litigation expenses, net, plant closure related costs, net, productivity and transformation costs, CEO succession costs, warehouse and manufacturing consolidation and other costs, net, costs associated with acquisitions, divestitures and other transactions, (gains) losses on sales of assets, intangibles and long-lived asset impairments, unrealized currency (gains) losses and the related tax effects of such adjustments, and other costs.
- Adjusted EBITDA: net loss before net interest expense, income taxes, depreciation and amortization, equity in net loss of equity-method investees, stock-based compensation, net, unrealized currency losses, certain litigation and related costs, plant closure related costs, net, productivity and transformation costs, CEO succession costs, warehouse and manufacturing consolidation and other costs, costs associated with acquisitions, divestitures and other transactions, (gains) losses on sales of assets, transaction and integration costs, net, goodwill impairment, intangibles and long-lived asset impairments and other adjustments.
- Free cash flow: net cash provided by operating activities less purchases of property, plant and equipment.
- Net debt: total debt less cash and cash equivalents.
We believe that the non-GAAP financial measures presented provide useful additional information to investors about current trends in the company’s operations and are useful for period-over-period comparisons of operations. We provide:
- Organic net sales to demonstrate the growth rate of net sales excluding the impact of acquisitions, divestitures and discontinued brands (and, starting in fiscal 2025, foreign exchange), and believe organic net sales is useful to investors because it enables them to better understand the growth of our business from period to period.
- Adjusted results as important supplemental measures of our performance and believe they are frequently used by securities analysts, investors and other interested parties in the evaluation of our Company and companies in our industry.
- Free cash flow as one factor in evaluating the amount of cash available for discretionary investments.
- Net debt as a useful measure to monitor leverage and evaluate the balance sheet.
Investor Relations Contact:
Alexis Tessier
Investor.Relations@hain.com
Media Contact:
Jen Davis
Jen.Davis@hain.com
| THE HAIN CELESTIAL GROUP, INC. AND SUBSIDIARIES | |||||||||||||||
| Consolidated Statements of Operations | |||||||||||||||
| (unaudited and in thousands, except per share amounts) | |||||||||||||||
| Fourth Quarter | Fourth Quarter Year to Date | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Net sales | $ | 418,799 | $ | 447,841 | $ | 1,736,286 | $ | 1,796,643 | |||||||
| Cost of sales | 320,796 | 347,098 | 1,355,454 | 1,400,229 | |||||||||||
| Gross profit | 98,003 | 100,743 | 380,832 | 396,414 | |||||||||||
| Selling, general and administrative expenses | 72,279 | 66,878 | 290,116 | 289,233 | |||||||||||
| Intangibles and long-lived asset impairment | 5,357 | 18,578 | 76,143 | 175,501 | |||||||||||
| Productivity and transformation costs | 7,294 | 1,592 | 27,741 | 7,284 | |||||||||||
| Amortization of acquired intangible assets | 1,061 | 1,601 | 5,780 | 10,016 | |||||||||||
| Operating income (loss) | 12,012 | 12,094 | (18,948 | ) | (85,620 | ) | |||||||||
| Interest and other financing expense, net | 13,704 | 13,873 | 57,213 | 45,783 | |||||||||||
| Other expense (income), net | 4,327 | 591 | 4,120 | (1,822 | ) | ||||||||||
| Loss before income taxes and equity in net loss (income) of equity-method investees | (6,019 | ) | (2,370 | ) | (80,281 | ) | (129,581 | ) | |||||||
| (Benefit) provision for income taxes | (3,292 | ) | 16,421 | (7,820 | ) | (14,178 | ) | ||||||||
| Equity in net loss (income) of equity-method investees | 210 | (92 | ) | 2,581 | 1,134 | ||||||||||
| Net loss | $ | (2,937 | ) | $ | (18,699 | ) | $ | (75,042 | ) | $ | (116,537 | ) | |||
| Net loss per common share: | |||||||||||||||
| Basic | $ | (0.03 | ) | $ | (0.21 | ) | $ | (0.84 | ) | $ | (1.30 | ) | |||
| Diluted | $ | (0.03 | ) | $ | (0.21 | ) | $ | (0.84 | ) | $ | (1.30 | ) | |||
| Shares used in the calculation of net loss per common share: | |||||||||||||||
| Basic | 89,845 | 89,477 | 89,750 | 89,396 | |||||||||||
| Diluted | 89,845 | 89,477 | 89,750 | 89,396 | |||||||||||
| THE HAIN CELESTIAL GROUP, INC. AND SUBSIDIARIES | |||||||
| Consolidated Balance Sheets | |||||||
| (unaudited and in thousands) | |||||||
| June 30, 2024 | June 30, 2023 | ||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 54,307 | $ | 53,364 | |||
| Accounts receivable, net | 179,190 | 160,948 | |||||
| Inventories | 274,128 | 310,341 | |||||
| Prepaid expenses and other current assets | 49,434 | 66,378 | |||||
| Total current assets | 557,059 | 591,031 | |||||
| Property, plant and equipment, net | 261,730 | 296,325 | |||||
| Goodwill | 929,304 | 938,640 | |||||
| Trademarks and other intangible assets, net | 244,799 | 298,105 | |||||
| Investments and joint ventures | 10,228 | 12,798 | |||||
| Operating lease right-of-use assets, net | 86,634 | 95,894 | |||||
| Other assets | 27,794 | 25,846 | |||||
| Total assets | $ | 2,117,548 | $ | 2,258,639 | |||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 188,220 | $ | 134,780 | |||
| Accrued expenses and other current liabilities | 85,714 | 88,520 | |||||
| Current portion of long-term debt | 7,569 | 7,567 | |||||
| Total current liabilities | 281,503 | 230,867 | |||||
| Long-term debt, less current portion | 736,523 | 821,181 | |||||
| Deferred income taxes | 47,826 | 72,086 | |||||
| Operating lease liabilities, noncurrent portion | 80,863 | 90,014 | |||||
| Other noncurrent liabilities | 27,920 | 26,584 | |||||
| Total liabilities | 1,174,635 | 1,240,732 | |||||
| Stockholders' equity: | |||||||
| Common stock | 1,119 | 1,113 | |||||
| Additional paid-in capital | 1,230,253 | 1,217,549 | |||||
| Retained earnings | 577,519 | 652,561 | |||||
| Accumulated other comprehensive loss | (137,245 | ) | (126,216 | ) | |||
| 1,671,646 | 1,745,007 | ||||||
| Less: Treasury stock | (728,733 | ) | (727,100 | ) | |||
| Total stockholders' equity | 942,913 | 1,017,907 | |||||
| Total liabilities and stockholders' equity | $ | 2,117,548 | $ | 2,258,639 | |||
| THE HAIN CELESTIAL GROUP, INC. AND SUBSIDIARIES | |||||||||||||||
| Consolidated Statements of Cash Flows | |||||||||||||||
| (unaudited and in thousands) | |||||||||||||||
| Fourth Quarter | Fourth Quarter Year to Date | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||||||||
| Net loss | $ | (2,937 | ) | $ | (18,699 | ) | $ | (75,042 | ) | $ | (116,537 | ) | |||
| Adjustments to reconcile net loss to net cash provided by operating activities | |||||||||||||||
| Depreciation and amortization | 10,305 | 12,868 | 44,665 | 50,777 | |||||||||||
| Deferred income taxes | (4,597 | ) | 18,856 | (23,361 | ) | (25,953 | ) | ||||||||
| Equity in net loss (income) of equity-method investees | 210 | (92 | ) | 2,581 | 1,134 | ||||||||||
| Stock-based compensation, net | 2,569 | 3,766 | 12,704 | 14,423 | |||||||||||
| Intangibles and long-lived asset impairment | 5,357 | 18,578 | 76,143 | 175,501 | |||||||||||
| Loss (gain) on sale of assets | 3,572 | - | 3,634 | (3,529 | ) | ||||||||||
| Other non-cash items, net | 160 | 255 | 1,104 | (1,271 | ) | ||||||||||
| Increase (decrease) in cash attributable to changes in operating assets and liabilities: | |||||||||||||||
| Accounts receivable | 11,709 | 20,993 | (18,963 | ) | 13,067 | ||||||||||
| Inventories | 4,039 | 8,723 | 31,471 | 189 | |||||||||||
| Other current assets | 276 | (3,286 | ) | 14,106 | (2,831 | ) | |||||||||
| Other assets and liabilities | 1,174 | (950 | ) | (3,292 | ) | 2,546 | |||||||||
| Accounts payable and accrued expenses | 7,559 | (20,502 | ) | 50,605 | (40,697 | ) | |||||||||
| Net cash provided by operating activities | 39,396 | 40,510 | 116,355 | 66,819 | |||||||||||
| CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||||||
| Purchases of property, plant and equipment | (8,692 | ) | (6,445 | ) | (33,461 | ) | (27,879 | ) | |||||||
| Investments and joint ventures, net | - | - | - | 433 | |||||||||||
| Proceeds from sale of assets | 8,019 | 48 | 9,539 | 7,806 | |||||||||||
| Net cash used in investing activities | (673 | ) | (6,397 | ) | (23,922 | ) | (19,640 | ) | |||||||
| CASH FLOWS FROM FINANCING ACTIVITIES | |||||||||||||||
| Borrowings under bank revolving credit facility | 34,000 | 53,000 | 186,000 | 328,000 | |||||||||||
| Repayments under bank revolving credit facility | (55,000 | ) | (79,000 | ) | (252,000 | ) | (380,000 | ) | |||||||
| Repayments under term loan | (12,575 | ) | (1,875 | ) | (18,200 | ) | (7,500 | ) | |||||||
| Payments of other debt, net | (21 | ) | (29 | ) | (3,896 | ) | (2,145 | ) | |||||||
| Employee shares withheld for taxes | (33 | ) | (364 | ) | (1,633 | ) | (1,415 | ) | |||||||
| Net cash used in financing activities | (33,629 | ) | (28,268 | ) | (89,729 | ) | (63,060 | ) | |||||||
| Effect of exchange rate changes on cash | (336 | ) | 3,837 | (1,761 | ) | 3,733 | |||||||||
| Net increase (decrease) in cash and cash equivalents | 4,758 | 9,682 | 943 | (12,148 | ) | ||||||||||
| Cash and cash equivalents at beginning of period | 49,549 | 43,682 | 53,364 | 65,512 | |||||||||||
| Cash and cash equivalents at end of period | $ | 54,307 | $ | 53,364 | $ | 54,307 | $ | 53,364 | |||||||
| THE HAIN CELESTIAL GROUP, INC. AND SUBSIDIARIES | |||||||||||||||
| Net Sales, Gross Profit and Adjusted EBITDA by Segment | |||||||||||||||
| (unaudited and in thousands) | |||||||||||||||
| North America | International | Corporate/Other | Hain Consolidated | ||||||||||||
| Net Sales | |||||||||||||||
| Net sales - Q4 FY24 | $ | 259,695 | $ | 159,104 | $ | - | $ | 418,799 | |||||||
| Net sales - Q4 FY23 | $ | 281,756 | $ | 166,085 | $ | - | $ | 447,841 | |||||||
| % change - FY24 net sales vs. FY23 net sales | (7.8 | )% | (4.2 | )% | (6.5 | )% | |||||||||
| Gross Profit | |||||||||||||||
| Q4 FY24 | |||||||||||||||
| Gross profit | $ | 58,574 | $ | 39,429 | $ | - | $ | 98,003 | |||||||
| Non-GAAP adjustments(1) | - | (12 | ) | - | (12 | ) | |||||||||
| Adjusted gross profit | $ | 58,574 | $ | 39,417 | $ | - | $ | 97,991 | |||||||
| % change - FY24 gross profit vs. FY23 gross profit | (7.1 | )% | 4.6 | % | (2.7 | )% | |||||||||
| % change - FY24 adjusted gross profit vs. FY23 adjusted gross profit | (8.6 | )% | 4.6 | % | (3.7 | )% | |||||||||
| Gross margin | 22.6 | % | 24.8 | % | 23.4 | % | |||||||||
| Adjusted gross margin | 22.6 | % | 24.8 | % | 23.4 | % | |||||||||
| Q4 FY23 | |||||||||||||||
| Gross profit | $ | 63,051 | $ | 37,692 | $ | - | $ | 100,743 | |||||||
| Non-GAAP adjustments(1) | 1,025 | - | - | 1,025 | |||||||||||
| Adjusted gross profit | $ | 64,076 | $ | 37,692 | $ | - | $ | 101,768 | |||||||
| Gross margin | 22.4 | % | 22.7 | % | 22.5 | % | |||||||||
| Adjusted gross margin | 22.7 | % | 22.7 | % | 22.7 | % | |||||||||
| Adjusted EBITDA | |||||||||||||||
| Q4 FY24 | |||||||||||||||
| Adjusted EBITDA | $ | 20,900 | $ | 27,020 | $ | (8,376 | ) | $ | 39,544 | ||||||
| % change - FY24 adjusted EBITDA vs. FY23 adjusted EBITDA | (22.5 | )% | (1.7 | )% | 23.4 | % | (9.1 | )% | |||||||
| Adjusted EBITDA margin | 8.0 | % | 17.0 | % | 9.4 | % | |||||||||
| Q4 FY23 | |||||||||||||||
| Adjusted EBITDA | $ | 26,959 | $ | 27,487 | $ | (10,930 | ) | $ | 43,516 | ||||||
| Adjusted EBITDA margin | 9.6 | % | 16.6 | % | 9.7 | % | |||||||||
| (1) See accompanying table "Adjusted Gross Profit, Adjusted Operating Income, Adjusted Net Income and Adjusted EPS" | |||||||||||||||
| THE HAIN CELESTIAL GROUP, INC. AND SUBSIDIARIES | |||||||||||||||
| Net Sales, Gross Profit and Adjusted EBITDA by Segment | |||||||||||||||
| (unaudited and in thousands) | |||||||||||||||
| North America | International | Corporate/Other | Hain Consolidated | ||||||||||||
| Net Sales | |||||||||||||||
| Net sales - Q4 FY24 YTD | $ | 1,055,527 | $ | 680,759 | $ | - | $ | 1,736,286 | |||||||
| Net sales - Q4 FY23 YTD | $ | 1,139,162 | $ | 657,481 | $ | - | $ | 1,796,643 | |||||||
| % change - FY24 net sales vs. FY23 net sales | (7.3 | )% | 3.5 | % | (3.4 | )% | |||||||||
| Gross Profit | |||||||||||||||
| Q4 FY24 YTD | |||||||||||||||
| Gross profit | $ | 230,689 | $ | 150,143 | $ | - | $ | 380,832 | |||||||
| Non-GAAP adjustments(1) | 8,157 | 804 | - | 8,961 | |||||||||||
| Adjusted gross profit | $ | 238,846 | $ | 150,947 | $ | - | $ | 389,793 | |||||||
| % change - FY24 gross profit vs. FY23 gross profit | (12.1 | )% | 12.1 | % | (3.9 | )% | |||||||||
| % change - FY24 adjusted gross profit vs. FY23 adjusted gross profit | (9.4 | )% | 12.7 | % | (1.9 | )% | |||||||||
| Gross margin | 21.9 | % | 22.1 | % | 21.9 | % | |||||||||
| Adjusted gross margin | 22.6 | % | 22.2 | % | 22.4 | % | |||||||||
| Q4 FY23 YTD | |||||||||||||||
| Gross profit | $ | 262,455 | $ | 133,959 | $ | - | $ | 396,414 | |||||||
| Non-GAAP adjustments(1) | 1,099 | 10 | - | 1,109 | |||||||||||
| Adjusted gross profit | $ | 263,554 | $ | 133,969 | $ | - | $ | 397,523 | |||||||
| Gross margin | 23.0 | % | 20.4 | % | 22.1 | % | |||||||||
| Adjusted gross margin | 23.1 | % | 20.4 | % | 22.1 | % | |||||||||
| Adjusted EBITDA | |||||||||||||||
| Q4 FY24 YTD | |||||||||||||||
| Adjusted EBITDA | $ | 98,728 | $ | 94,974 | $ | (39,180 | ) | $ | 154,522 | ||||||
| % change - FY24 adjusted EBITDA vs. FY23 adjusted EBITDA | (20.0 | )% | 14.5 | % | 1.5 | % | (7.3 | )% | |||||||
| Adjusted EBITDA margin | 9.4 | % | 14.0 | % | 8.9 | % | |||||||||
| Q4 FY23 YTD | |||||||||||||||
| Adjusted EBITDA | $ | 123,443 | $ | 82,945 | $ | (39,766 | ) | $ | 166,622 | ||||||
| Adjusted EBITDA margin | 10.8 | % | 12.6 | % | 9.3 | % | |||||||||
| (1) See accompanying table "Adjusted Gross Profit, Adjusted Operating Income, Adjusted Net Income and Adjusted EPS" | |||||||||||||||
| THE HAIN CELESTIAL GROUP, INC. AND SUBSIDIARIES | |||||||||||||||
| Adjusted Gross Profit, Adjusted Operating Income, Adjusted Net Income and Adjusted EPS | |||||||||||||||
| (unaudited and in thousands, except per share amounts) | |||||||||||||||
| Reconciliation of Gross Profit, GAAP to Gross Profit, as Adjusted: | |||||||||||||||
| Fourth Quarter | Fourth Quarter Year to Date | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Gross profit, GAAP | $ | 98,003 | $ | 100,743 | $ | 380,832 | $ | 396,414 | |||||||
| Adjustments to Cost of sales: | |||||||||||||||
| Plant closure related costs, net | (12 | ) | 1,025 | 6,523 | 1,099 | ||||||||||
| Warehouse/manufacturing consolidation and other costs, net | - | - | 995 | 10 | |||||||||||
| Other | - | - | 1,443 | - | |||||||||||
| Gross profit, as adjusted | $ | 97,991 | $ | 101,768 | $ | 389,793 | $ | 397,523 | |||||||
| Reconciliation of Operating Income (Loss), GAAP to Operating Income, as Adjusted: | |||||||||||||||
| Fourth Quarter | Fourth Quarter Year to Date | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Operating income (loss), GAAP | $ | 12,012 | $ | 12,094 | $ | (18,948 | ) | $ | (85,620 | ) | |||||
| Adjustments to Cost of sales: | |||||||||||||||
| Plant closure related costs, net | (12 | ) | 1,025 | 6,523 | 1,099 | ||||||||||
| Warehouse/manufacturing consolidation and other costs, net | - | - | 995 | 10 | |||||||||||
| Other | - | - | 1,443 | - | |||||||||||
| Adjustments to Operating expenses(a): | |||||||||||||||
| Productivity and transformation costs | 7,294 | 1,592 | 27,741 | 7,284 | |||||||||||
| Intangibles and long-lived asset impairment | 5,357 | 18,578 | 76,143 | 175,501 | |||||||||||
| Certain litigation expenses, net(b) | 3,189 | (4,732 | ) | 7,262 | (1,369 | ) | |||||||||
| Plant closure related costs, net | (25 | ) | - | 154 | (1 | ) | |||||||||
| Transaction and integration costs, net | (316 | ) | 34 | (34 | ) | 2,018 | |||||||||
| CEO succession | - | - | - | 5,113 | |||||||||||
| Warehouse/manufacturing consolidation and other costs, net | - | 127 | - | 2,696 | |||||||||||
| Operating income, as adjusted | $ | 27,499 | $ | 28,718 | $ | 101,279 | $ | 106,731 | |||||||
| Reconciliation of Net Loss, GAAP to Net Income, as Adjusted: | |||||||||||||||
| Fourth Quarter | Fourth Quarter Year to Date | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Net loss, GAAP | $ | (2,937 | ) | $ | (18,699 | ) | $ | (75,042 | ) | $ | (116,537 | ) | |||
| Adjustments to Cost of sales: | |||||||||||||||
| Plant closure related costs, net | (12 | ) | 1,025 | 6,523 | 1,099 | ||||||||||
| Warehouse/manufacturing consolidation and other costs, net | - | - | 995 | 10 | |||||||||||
| Other | - | - | 1,443 | - | |||||||||||
| Adjustments to Operating expenses(a): | |||||||||||||||
| Productivity and transformation costs | 7,294 | 1,592 | 27,741 | 7,284 | |||||||||||
| Intangibles and long-lived asset impairment | 5,357 | 18,578 | 76,143 | 175,501 | |||||||||||
| Certain litigation expenses, net(b) | 3,189 | (4,732 | ) | 7,262 | (1,369 | ) | |||||||||
| Plant closure related costs, net | (25 | ) | - | 154 | (1 | ) | |||||||||
| Transaction and integration costs, net | (316 | ) | 34 | (34 | ) | 2,018 | |||||||||
| CEO succession | - | - | - | 5,113 | |||||||||||
| Warehouse/manufacturing consolidation and other costs, net | - | 127 | - | 2,696 | |||||||||||
| Adjustments to Interest and other expense, net(c): | |||||||||||||||
| Loss (gain) on sale of assets | 4,322 | - | 4,384 | (3,529 | ) | ||||||||||
| Unrealized currency (gains) losses | (74 | ) | 451 | 9 | 1,102 | ||||||||||
| Adjustments to (Benefit) provision for income taxes: | |||||||||||||||
| Net tax impact of non-GAAP adjustments | (5,466 | ) | 11,673 | (19,605 | ) | (28,478 | ) | ||||||||
| Net income, as adjusted | $ | 11,332 | $ | 10,049 | $ | 29,973 | $ | 44,909 | |||||||
| Net loss margin | (0.7 | )% | (4.2 | )% | (4.3 | )% | (6.5 | )% | |||||||
| Adjusted net income margin | 2.7 | % | 2.2 | % | 1.7 | % | 2.5 | % | |||||||
| Diluted shares used in the calculation of net loss per common share: | 89,845 | 89,477 | 89,750 | 89,396 | |||||||||||
| Diluted shares used in the calculation of adjusted net income per common share: | 89,965 | 89,698 | 89,923 | 89,604 | |||||||||||
| Diluted net loss per common share, GAAP | $ | (0.03 | ) | $ | (0.21 | ) | $ | (0.84 | ) | $ | (1.30 | ) | |||
| Diluted net income per common share, as adjusted | $ | 0.13 | $ | 0.11 | $ | 0.33 | $ | 0.50 | |||||||
| (a) Operating expenses include amortization of acquired intangibles, selling, general and administrative expenses, intangibles and long-lived asset impairment and productivity and transformation costs. | |||||||||||||||
| (b) Expenses and items relating to securities class action, baby food litigation and SEC investigation. | |||||||||||||||
| (c) Interest and other expense, net includes interest and other financing expenses, net, unrealized currency (gains) losses, loss (gain) on sale of assets and other expense, net. | |||||||||||||||
| THE HAIN CELESTIAL GROUP, INC. AND SUBSIDIARIES | |||||||||||
| Organic Net Sales Growth | |||||||||||
| (unaudited and in thousands) | |||||||||||
| Q4 FY24 | North America | International | Hain Consolidated | ||||||||
| Net sales | $ | 259,695 | $ | 159,104 | $ | 418,799 | |||||
| Divestitures, discontinued brands and exited product categories | (1,043 | ) | (593 | ) | (1,636 | ) | |||||
| Organic net sales | $ | 258,652 | $ | 158,511 | $ | 417,163 | |||||
| Q4 FY23 | |||||||||||
| Net sales | $ | 281,756 | $ | 166,085 | $ | 447,841 | |||||
| Divestitures, discontinued brands and exited product categories | (10,484 | ) | (581 | ) | (11,065 | ) | |||||
| Organic net sales | $ | 271,272 | $ | 165,504 | $ | 436,776 | |||||
| Net sales decline | (7.8 | )% | (4.2 | )% | (6.5 | )% | |||||
| Impact of divestitures, discontinued brands and exited product categories | 3.1 | % | (0.0 | )% | 2.0 | % | |||||
| Organic net sales decline | (4.7 | )% | (4.2 | )% | (4.5 | )% | |||||
| Q4 FY24 YTD | North America | International | Hain Consolidated | ||||||||
| Net sales | $ | 1,055,527 | $ | 680,759 | $ | 1,736,286 | |||||
| Divestitures, discontinued brands and exited product categories | (19,519 | ) | (1,682 | ) | (21,201 | ) | |||||
| Organic net sales | $ | 1,036,008 | $ | 679,077 | $ | 1,715,085 | |||||
| Q4 FY23 YTD | |||||||||||
| Net sales | $ | 1,139,162 | $ | 657,481 | $ | 1,796,643 | |||||
| Divestitures, discontinued brands and exited product categories | (36,093 | ) | (2,662 | ) | (38,755 | ) | |||||
| Organic net sales | $ | 1,103,069 | $ | 654,819 | $ | 1,757,888 | |||||
| Net sales (decline) growth | (7.3 | )% | 3.5 | % | (3.4 | )% | |||||
| Impact of divestitures, discontinued brands and exited product categories | 1.2 | % | 0.2 | % | 1.0 | % | |||||
| Organic net sales (decline) growth | (6.1 | )% | 3.7 | % | (2.4 | )% | |||||
| THE HAIN CELESTIAL GROUP, INC. AND SUBSIDIARIES | |||||||||||||||
| Adjusted EBITDA | |||||||||||||||
| (unaudited and in thousands) | |||||||||||||||
| Fourth Quarter | Fourth Quarter Year to Date | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Net loss | $ | (2,937 | ) | $ | (18,699 | ) | $ | (75,042 | ) | $ | (116,537 | ) | |||
| Depreciation and amortization | 10,305 | 12,868 | 44,665 | 50,777 | |||||||||||
| Equity in net loss (income) of equity-method investees | 210 | (92 | ) | 2,581 | 1,134 | ||||||||||
| Interest expense, net | 12,954 | 13,354 | 54,232 | 43,936 | |||||||||||
| (Benefit) provision for income taxes | (3,292 | ) | 16,421 | (7,820 | ) | (14,178 | ) | ||||||||
| Stock-based compensation, net | 2,569 | 3,766 | 12,704 | 14,423 | |||||||||||
| Unrealized currency (gains) losses | (74 | ) | 278 | 17 | 929 | ||||||||||
| Certain litigation expenses, net(a) | 3,189 | (4,732 | ) | 7,262 | (1,369 | ) | |||||||||
| Restructuring activities | |||||||||||||||
| Productivity and transformation costs | 7,294 | 1,592 | 27,741 | 7,284 | |||||||||||
| Plant closure related costs, net | (37 | ) | 21 | 5,251 | 94 | ||||||||||
| Warehouse/manufacturing consolidation and other costs, net | - | 127 | 995 | 1,026 | |||||||||||
| CEO succession | - | - | - | 5,113 | |||||||||||
| Acquisitions, divestitures and other | |||||||||||||||
| Loss (gain) on sale of assets | 4,322 | - | 4,384 | (3,529 | ) | ||||||||||
| Transaction and integration costs, net | (316 | ) | 34 | (34 | ) | 2,018 | |||||||||
| Impairment charges | |||||||||||||||
| Intangibles and long-lived asset impairment | 5,357 | 18,578 | 76,143 | 175,501 | |||||||||||
| Other | - | - | 1,443 | - | |||||||||||
| Adjusted EBITDA | $ | 39,544 | $ | 43,516 | $ | 154,522 | $ | 166,622 | |||||||
| (a) Expenses and items relating to securities class action, baby food litigation and SEC investigation. | |||||||||||||||
| THE HAIN CELESTIAL GROUP, INC. AND SUBSIDIARIES | |||||||||||||||
| Free Cash Flow | |||||||||||||||
| (unaudited and in thousands) | |||||||||||||||
| Fourth Quarter | Fourth Quarter Year to Date | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Net cash provided by operating activities | $ | 39,396 | $ | 40,510 | $ | 116,355 | $ | 66,819 | |||||||
| Purchases of property, plant and equipment | (8,692 | ) | (6,445 | ) | (33,461 | ) | (27,879 | ) | |||||||
| Free cash flow | $ | 30,704 | $ | 34,065 | $ | 82,894 | $ | 38,940 | |||||||
| THE HAIN CELESTIAL GROUP, INC. AND SUBSIDIARIES | |||||
| Net Debt | |||||
| (unaudited and in thousands) | |||||
| June 30, 2024 | June 30, 2023 | ||||
| Debt | |||||
| Long-term debt, less current portion | $ | 736,523 | $ | 821,181 | |
| Current portion of long-term debt | 7,569 | 7,567 | |||
| Total debt | 744,092 | 828,748 | |||
| Less: Cash and cash equivalents | 54,307 | 53,364 | |||
| Net debt | $ | 689,785 | $ | 775,384 | |
FAQ
What were Hain Celestial's Q4 2024 net sales?
How did Hain Celestial perform in terms of net debt reduction in FY 2024?
What was Hain Celestial's adjusted net income for Q4 2024?
What is Hain Celestial's FY 2025 guidance?
