Natural Food Company Hain Celestial's Q4: Earnings Beat, 2.0% Sales Decline, CFO Transition & More
Portfolio Pulse from Shivani Kumaresan
Hain Celestial Group Inc reported a 2% YoY decline in Q4 FY23 sales to $447.84 million, beating the analyst consensus. Net sales from North America decreased 5.1% YoY. Adjusted gross margin expanded 325 basis points YoY to 22.7%. The company appointed Lee Boyce as the new CFO, effective September 5, 2023. For FY24, the company expects adjusted net sales growth of 2% to 4% and adjusted EBITDA of $155 million - $165 million.
August 24, 2023 | 1:02 pm
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Hain Celestial reported a 2% YoY decline in Q4 FY23 sales but beat analyst consensus. The company appointed a new CFO and provided a positive outlook for FY24.
Despite the YoY decline in sales, Hain Celestial managed to beat analyst consensus, which is a positive sign. The appointment of a new CFO indicates a potential strategic shift, which could be beneficial in the long run. The positive outlook for FY24 also suggests that the company expects improved performance, which could positively impact the stock price in the short term.
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IMPORTANCE 80
RELEVANCE 100