Hain Celestial Group reports soft sales in 2022 Q2, expects stronger finish to year

Organic and natural products maker Hain Celestial Group Inc. (Nasdaq: HAIN) posted second-quarter fiscal 2022 results with net sales of $476.9 million, 10% decrease, compared to the prior year period. The company posted adjusted earnings of $0.36 a share for second quarter, ended Dec. 31, up 5.9% from $0.34 reported in the prior-year quarter.

Hain Celestial Group operates under two reportable segments: North America and International. North America net sales in the second quarter were $275 million, a decrease of 3%, compared with the prior year period. International net sales in the second quarter were $201.9 million, a decline of 18%, compared with the same quarter last fiscal year.

“Our second-quarter results delivered adjusted net sales growth consistent with initial guidance, behind strong U.S. consumption growth, despite industry-wide labor and supply chain challenges," said Hain Celestial president and chief executive Mark L. Schiller.

"We have utilized aggressive pricing and productivity to offset most of the cost headwinds and have revised guidance to reflect the expectation of accelerating top-line growth in the second half of the year and continued elevated supply chain costs and disruptions," Schiller added. "We believe that many of these costs will abate over time and remain very focused on our Hain 3.0 strategy as we pivot toward becoming a high growth and highly profitable global health and wellness company.”

For fiscal 2022, the company continues to expect low single-digit growth in adjusted net sales year over year, adjusting for currency, acquisitions, divestitures and discontinued brands.

Hain Celestial Group's popular brands include Celestial Seasonings, Cully & Sully, Earth’s Best, Sensible Portions and Terra, among dozens of others, many of which sell in vending and micro markets.