Natural Food Company Hain Celestial's Q1 Revenue Falls, Hit By Supply challenges In Baby & Kids Organic Formula
Portfolio Pulse from Shivani Kumaresan
Hain Celestial Group Inc reported a Q1 FY24 sales decline of 3.3% YoY to $425.03 million, missing the analyst consensus estimate of $431.7 million. The decline was mainly due to lower sales in baby & kids products and challenges in organic formula supply. However, international net sales rose 9.3%. The company reaffirmed its FY24 organic net sales growth outlook of 2% to 4% and adjusted EBITDA of $155 million - $165 million.
November 07, 2023 | 4:20 pm
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Hain Celestial's Q1 FY24 sales fell short of estimates due to lower sales in baby & kids products and supply challenges. Despite this, the company's shares traded higher and it reaffirmed its FY24 outlook.
Hain Celestial's Q1 FY24 sales fell short of estimates, which could have a negative impact on the stock. However, the company's shares traded higher, possibly due to the reaffirmation of its FY24 outlook. This suggests that investors may have confidence in the company's future performance despite the recent sales decline.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100