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Hain Celestial Group Inc (HAIN) SEC Filing 10-K Annual report for the fiscal year ending Sunday, June 30, 2019

Hain Celestial Group Inc

CIK: 910406 Ticker: HAIN

Exhibit 99.1

 

LOGO

Hain Celestial Reports Fourth Quarter and Fiscal Year 2019 Financial Results

Successful Continued Execution of Transformational Strategic Plan

Third Consecutive Quarter of Sequential Adjusted Margin Improvement

Provides Fiscal Year 2020 Guidance

Lake Success, NY, August 29, 2019—The Hain Celestial Group, Inc. (Nasdaq: HAIN) (“Hain Celestial” or the “Company”), a leading organic and natural products company with operations in North America, Europe, Asia and the Middle East providing consumers with A Healthier Way of Life, today reported financial results for the fourth quarter and fiscal year ended June 30, 2019. The results contained herein are presented with the Hain Pure Protein operating segment being treated as a discontinued operation.

“We are pleased with our team’s solid execution on our transformational strategic plan during the fourth quarter. Our financial results demonstrate the third consecutive quarter of sequential adjusted margin improvement along with key operational improvements in the United States and internationally,” commented Mark L. Schiller, Hain Celestial’s President and Chief Executive Officer. “In a very short period of time, we have started to make significant progress on our key strategies in the United States including simplifying the portfolio, strengthening our core capabilities and expanding margins and cash flow. The team is delivering on the plan we outlined at our Investor Day in February which was to first get smaller and more profitable so that we could then focus our resources on reinvigorating profitable topline growth in a core set of brands by optimizing in-store assortment, building innovation and enhancing marketing. For fiscal 2020, we remain confident in our ability to generate significant further improvements in overall profit across our business and in building the foundation for future accelerated growth.”

FINANCIAL HIGHLIGHTS1

Summary of Fourth Quarter Results from Continuing Operations2

 

   

Net sales decreased 10% to $557.7 million compared to the prior year period.

 

   

Net sales decreased 7% on a constant currency basis compared to the prior year period.

 

   

When adjusted for Foreign Exchange and Acquisitions, Divestitures and certain other items, including the Project Terra Stock Keeping Unit (“SKU”) rationalization3, net sales decreased 6% compared to the prior year period.

 

   

Gross margin of 19.0%, a 120 basis point decrease over the prior year period and a 190 basis point decrease from the third quarter of fiscal 2019.

 

   

Adjusted gross margin of 23.0%, a 190 basis point increase over the prior year period and a 140 basis point increase from the third quarter of fiscal 2019.

 

1 

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 are provided herein in the tables “Reconciliation of GAAP Results to Non-GAAP Measures.”

2 

Unless otherwise noted all results included in this press release are from continuing operations.

3 

Refer to “Net Sales Growth at Constant Currency and Adjusted for Acquisitions, Divestitures and Other” provided herein.

 

 

The Hain Celestial Group, Inc.  •  1111 Marcus Avenue  •  Lake Success, NY 11042

516-587-5000  •  www.hain.com


The following information was filed by Hain Celestial Group Inc (HAIN) on Thursday, August 29, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Hain Celestial Group Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (Details)
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statement Of Stockholders' Equity
Consolidated Statement Of Stockholders' Equity (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Operations
Accrued Expenses And Other Current Liabilities
Accrued Expenses And Other Current Liabilities (Details)
Accrued Expenses And Other Current Liabilities (Tables)
Acquisitions
Acquisitions (Fiscal 2017) (Narrative) (Details)
Acquisitions (Fiscal 2018) (Narrative) (Details)
Chief Executive Officer Succession Plan
Chief Executive Officer Succession Plan (Details)
Commitments And Contingencies
Commitments And Contingencies (Legal Proceedings) (Details)
Commitments And Contingencies (Operating Lease Future Minimum Payments) (Details)
Commitments And Contingencies (Tables)
Debt And Borrowings
Debt And Borrowings (Components Of Debt) (Details)
Debt And Borrowings (Credit Agreement) (Details)
Debt And Borrowings (Maturities Of Debt Instruments) (Details)
Debt And Borrowings (Tilda Short-Term Borrowing Arrangements) (Details)
Debt And Borrowings Debt And Borrowings (Tables)
Defined Contribution Plans
Defined Contribution Plans (Details)
Description Of Business And Basis Of Presentation
Description Of Business And Basis Of Presentation (Details)
Discontinued Operations
Discontinued Operations (Balance Sheet) (Details)
Discontinued Operations (Narrative) (Details)
Discontinued Operations (Statements Of Operations) (Details)
Discontinued Operations (Tables)
Earnings (Loss) Per Share
Earnings (Loss) Per Share (Computation Of Basic And Diluted Earnings Per Share) (Details)
Earnings (Loss) Per Share (Narrative) (Details)
Earnings (Loss) Per Share (Tables)
Financial Instruments Measured At Fair Value
Financial Instruments Measured At Fair Value (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details)
Financial Instruments Measured At Fair Value (Narrative) (Details)
Financial Instruments Measured At Fair Value (Summary Of Level 3 Activity) (Details)
Financial Instruments Measured At Fair Value (Tables)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Amortization Expense) (Details)
Goodwill And Other Intangible Assets (Changes In Carrying Amount Of Goodwill) (Details)
Goodwill And Other Intangible Assets (Components Of Other Intangible Assets) (Details)
Goodwill And Other Intangible Assets (Expected Amortization Expense Over Next Five Fiscal Years) (Details)
Goodwill And Other Intangible Assets (Narrative) (Details)
Goodwill And Other Intangible Assets (Tables)
Income Taxes
Income Taxes (Changes In Valuation Allowances) (Details)
Income Taxes (Components Of Deferred Tax Assets And Liabilities) (Details)
Income Taxes (Components Of Income Before Income Taxes) (Details)
Income Taxes (Narrative) (Details)
Income Taxes (Provision For Income Taxes) (Details)
Income Taxes (Reconciliation Of Expected Income Taxes) (Details)
Income Taxes (Tables)
Income Taxes (Unrecognized Tax Benefits Activity) (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Investments And Joint Ventures
Investments And Joint Ventures (Equity Method Investment) (Details)
Property, Plant And Equipment, Net
Property, Plant And Equipment, Net (Details)
Property, Plant And Equipment, Net (Narrative) (Details)
Property, Plant And Equipment, Net (Tables)
Quarterly Financial Data (Unaudited)
Quarterly Financial Data (Unaudited) (Narrative) (Details)
Quarterly Financial Data (Unaudited) (Schedule Of Quarterly Data) (Details)
Quarterly Financial Data (Unaudited) (Tables)
Segment Information
Segment Information (Long-Lived Assets) (Details)
Segment Information (Net Sales) (Details)
Segment Information (Segment Data) (Details)
Segment Information (Tables)
Stock-Based Compensation And Incentive Performance Plans
Stock-Based Compensation And Incentive Performance Plans (2019 Equity Inducement Award Program) (Details)
Stock-Based Compensation And Incentive Performance Plans (Ceo Inducement Grant) (Details)
Stock-Based Compensation And Incentive Performance Plans (Compensation Cost And Related Income Tax Benefits Recognized) (Details)
Stock-Based Compensation And Incentive Performance Plans (Long-Term Incentive Plan) (Details)
Stock-Based Compensation And Incentive Performance Plans (Non-Vested Restricted Stock And Restricted Share Unit Awards) (Details)
Stock-Based Compensation And Incentive Performance Plans (Restricted Stock Grant Information) (Details)
Stock-Based Compensation And Incentive Performance Plans (Schedule Of Cash Proceeds Received From Share-Based Payment Awards) (Details)
Stock-Based Compensation And Incentive Performance Plans (Stock Plans Narrative) (Details)
Stock-Based Compensation And Incentive Performance Plans (Summary Of Stock Option Activity) (Details)
Stock-Based Compensation And Incentive Performance Plans (Tables)
Stockholders' Equity
Stockholders' Equity (Accumulated Other Comprehensive Loss) (Details)
Stockholders' Equity (Narrative) (Details)
Stockholders' Equity (Tables)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies And Practices
Summary Of Significant Accounting Policies And Practices (Narrative) (Details)
Summary Of Significant Accounting Policies And Practices (Newly Adopted Accounting Pronouncements) (Details)
Summary Of Significant Accounting Policies And Practices (Policies)
Summary Of Significant Accounting Policies And Practices (Ppe Useful Life) (Details)
Summary Of Significant Accounting Policies And Practices (Revenue Recognition) (Details)
Summary Of Significant Accounting Policies And Practices (Tables)
Summary Of Significant Accounting Policies And Practices (Valuation Of Accounts And Chargebacks Receivable And Concentration Of Credit Risk) (Details)
Ticker: HAIN
CIK: 910406
Form Type: 10-K Annual Report
Accession Number: 0000910406-19-000077
Submitted to the SEC: Thu Aug 29 2019 12:22:26 PM EST
Accepted by the SEC: Thu Aug 29 2019
Period: Sunday, June 30, 2019
Industry: Food And Kindred Products

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