Hain Celestial Q2 Profit Tops View

(RTTNews) - Hain Celestial Group Inc. (HAIN) reported that its second-quarter net income was $2.14 million or $0.02 per share compared to a loss of $964,000 or $0.01 per share in the prior year period.

Adjusted earnings per share were $0.34 compared to $0.17 in the prior year period. Analysts polled by Thomson Reuters expected the company to report earnings of $0.30 per share for the second-quarter. Analysts' estimates typically exclude special items.

Net sales increased 4% to $528.4 million or 2% on a constant currency basis, compared to the prior year period. When adjusted to exclude the effects of foreign exchange, divestitures and discontinued brands, net sales increased 6% from the prior year. Analysts expected revenues of $522.45 million.

The company said it did not provide specific financial guidance for fiscal year 2021, due to the continuing uncertainty around the duration and impact of the COVID-19 pandemic.

The company reaffirmed its expectation for gross and adjusted EBITDA margin expansion as well as strong double-digit adjusted EBITDA and operating free cash flow growth for fiscal year 2021.

However, for the third quarter fiscal year 2021, in comparison to the prior year period, the company expects strong gross margin and EBITDA margin improvement and adjusted EBITDA growth near 10%.