Market Overview

Hain Celestial Reports Inline Q1, Traders Cheer Outlook

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Shares of Hain Celestial Group Inc (NASDAQ: HAIN) were trading higher by nearly 3 percent during Wednesday's pre-market session after the company reported an in-line third quarter but issued encouraging guidance for the full fiscal year.

Hail Celestial earned $0.45 per share in the third quarter, matching analyst expectations while revenue of $662.74 million was $8.2 million higher than analysts expected and marked a 19 percent increase from the same quarter a year ago, despite foreign exchange rate changes negatively impacting sales by $26 million.

By segment, U.S. sales totaled $343.7 million, United Kingdom sales totaled $178.1 million while the Rest of the World segment reported sales of $57.8 million. The Hain Pure Protein segment (which includes recently acquired Empire brand of kosher foods) reported net sales of $83.2 million.

"I am pleased with our third quarter results. We had record third quarter net sales, as the strength of our core brands and contributions from acquisitions helped us to overcome foreign currency impacts to deliver our 18th consecutive year-over-year double digit net sales growth," said Irwin D. Simon, Founder, President and Chief Executive Officer of Hain Celestial. "Our team managed our expenses and focused on productivity improvements to deliver profitable worldwide expansion in the quarter, while we also experienced greater contribution from our Hain Pure Protein Corporation business as consumers today increasingly seek fresh, antibiotic-free and organic proteins to complement their healthy lifestyles."

Fiscal 2015 Guidance

Hain Celestial updated its annual 2015 guidance and expects to earn $1.86 to $1.90 per share (versus analyst estimates of $1.88) on revenue of $2.692 billion to $2.7 billion (versus analyst estimates of $2.67 billion). The guidance reflects an increase of 17 percent to 20 percent in earnings per share compared to fiscal 2014 and a 25 percent increase in net sales.

Posted-In: Empire Kosher hain celestial Irwin Simon Natural Products Organic FoodEarnings News Guidance

 

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