Hain Celestial Q3 Adj. Profit Declines

(RTTNews) - The Hain Celestial Group, Inc. (HAIN) reported third quarter adjusted EPS from continuing operations of $0.33 compared to $0.44, last year. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.45, for the quarter. Analysts' estimates typically exclude special items. Adjusted gross profit margin was 23.4%, a 400 basis point decrease from prior year period.

Net income from continuing operations was $24.5 million compared to $34.3 million in the prior year period. Earnings per share was $0.27 compared to $0.34.

Third quarter net sales increased 2.1% to $502.9 million compared to the prior year period. Analysts on average had estimated $521.54 million in revenue. When adjusted for foreign exchange, acquisitions, divestitures and discontinued brands, net sales increased 1.5%.

For the fourth quarter of fiscal 2022, the company expects: low to mid single digit adjusted net sales growth, modest adjusted gross margin reduction, and adjusted EBITDA down low to mid single digits.

The company updated its adjusted net sales and adjusted EBITDA guidance for fiscal 2022, and now expects: approximately flat adjusted net sales, modest adjusted gross margin reduction, and a low double digit adjusted EBITDA decline.

Shares of Hain Celestial Group were down 3% in pre-market trade on Thursday.