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Hain Celestial Group Inc (HAIN) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

SEC Filings

HAIN Quarterly Reports

Hain Celestial Group Inc

CIK: 910406 Ticker: HAIN

Exhibit 99.1

haincelestialnewlogoa0.jpg
Hain Celestial Reports Third Quarter Fiscal Year 2020 Financial Results

Third Quarter 2020 Results Exceed Expectations and 2020 Fiscal Year Guidance Raised

Company Returns to Top Line Growth

Bought Back 2.3% of Shares Outstanding During the Third Quarter

Lake Success, NY, May 7, 2020—
The Hain Celestial Group, Inc. (Nasdaq: HAIN) (“Hain Celestial”, “Hain” 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 third quarter ended March 31, 2020. The results contained herein are presented with the Hain Pure Protein and Tilda operating segments being treated as discontinued operations.

Mark L. Schiller, Hain Celestial’s President and Chief Executive Officer, commented, “I am pleased to be raising our full year guidance for 2020 as third quarter financial performance exceeded our previous guidance and is expected to show continuing strength in the current quarter. With our transformation plan taking hold and food-at-home consumption accelerating, Hain Celestial’s natural and organic product offerings resonated with consumers, resulting in year-over-year growth in third quarter net sales, the first such increase since fiscal 2018.”

Schiller continued, “Across our organization, we are taking necessary safety measures to best manage our business in the current operating environment as we continue to deliver against our transformational strategic plan. I am proud of how Hain associates across the globe rose to the occasion to partner with our valued customers and suppliers to deliver for our consumers and local communities in the face of unprecedented global challenges. As a result of the actions we have taken, we are well positioned to manage through this unprecedented crisis and emerge an even stronger company.”

FINANCIAL HIGHLIGHTS1

Summary of Third Quarter Results from Continuing Operations2
Net sales increased 1% to $553.3 million or 2% on a constant currency basis compared to the prior year period.
When adjusted for Foreign Exchange, Divestitures and Stock Keeping Unit (“SKU”) rationalization3, net sales increased 6% compared to the prior year period.
Gross margin of 23.9%, a 324 basis point increase from the prior year period.
Adjusted gross margin of 24.3%, a 282 basis point increase from the prior year period.
Operating income of $19.1 million compared to $19.0 million in the prior year period.
Adjusted operating income of $45.7 million compared to $34.0 million in the prior year period.
Net income of $25.0 million compared to $8.8 million in the prior year period.
Adjusted net income of $28.8 million compared to $20.2 million in prior year period.
Adjusted EBITDA of $60.7 million compared to $49.1 million in the prior year period.
Adjusted EBITDA margin of 11.0%, a 199 basis point increase compared to the prior year period.
Earnings per diluted share (“EPS”) of $0.24 compared to $0.08 in the prior year period.
Adjusted EPS of $0.28 compared to $0.19 in the prior year period.
Repurchased 2.4 million shares, or 2.3% of the outstanding common stock, at an average price of $23.52 per share.

1This 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.”
2Unless otherwise noted all results included in this press release are from continuing operations.
3Refer to “Net Sales Growth at Constant Currency" and "Adjusted for Divestitures and SKU Rationalization” provided herein.















The Hain Celestial Group, Inc. • 1111 Marcus Avenue • Lake Success, NY 11042
516-587-5000 • www.hain.com
1

The following information was filed by Hain Celestial Group Inc (HAIN) on Thursday, May 7, 2020 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-Q Quarterly 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-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statement Of Stockholders' Equity (Unaudited)
Consolidated Statement Of Stockholders' Equity (Unaudited) (Parenthetical)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Comprehensive Loss (Unaudited)
Consolidated Statements Of Operations (Unaudited)
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive (Loss) Income (Details)
Accumulated Other Comprehensive (Loss) Income (Tables)
Basis Of Presentation
Basis Of Presentation (Details)
Basis Of Presentation (Policies)
Business
Business (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt And Borrowings
Debt And Borrowings (Components Of Debt) (Details)
Debt And Borrowings (Credit Agreement) (Details)
Debt And Borrowings (Tables)
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 (Tables)
Former Chief Executive Officer Succession Plan
Former Chief Executive Officer Succession Plan (Details)
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 Trademarks And Other Intangible Assets) (Details)
Goodwill And Other Intangible Assets (Narrative) (Details)
Goodwill And Other Intangible Assets (Tables)
Income Taxes
Income Taxes (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Investments
Investments (Details)
Leases
Leases (Lease Expense) (Details)
Leases (Maturities Of Lease Liabilities) (Details)
Leases (Maturities, Prior To Adoption) (Details)
Leases (Other Information) (Details)
Leases (Supplemental Balance Sheet Information) (Details)
Leases (Tables)
Property, Plant And Equipment, Net
Property, Plant And Equipment, Net (Details)
Property, Plant And Equipment, Net (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 (Compensation Cost And Related Income Tax Benefits Recognized) (Details)
Stock-Based Compensation And Incentive Performance Plans (Narrative) (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 (Summary Of Stock Option Activity) (Details)
Stock-Based Compensation And Incentive Performance Plans (Tables)
Ticker: HAIN
CIK: 910406
Form Type: 10-Q Quarterly Report
Accession Number: 0000910406-20-000048
Submitted to the SEC: Thu May 07 2020 4:53:49 PM EST
Accepted by the SEC: Thu May 07 2020
Period: Tuesday, March 31, 2020
Industry: Food And Kindred Products

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