logo
Plus   Neg
Share
Email
Comment

Hain Celestial Q2 Profit Rises, Sees Full Year Revenue Below View, Stock Falls

Natural and organic products company Hain Celestial Group Inc. (HAIN) Tuesday said profit in the second quarter increased significantly from last year, backed by a nearly 25 percent increase in revenues. Looking ahead, the company forecast full year revenues below Wall Street estimates. The stock fell almost 5 percent in the extended trade.

Net income climbed to $31.62 million or $0.67 per share from $20.04 million or $0.44 per share reported last year.

Adjusted earnings from continuing operations were $0.72 per share, while it stood at $0.53 per share last year. On average, 14 analysts polled by Thomson Reuters expected the company to earn $0.69 per share for the quarter. Analysts' estimates typically exclude special items.

The latest adjusted results exclude acquisition-related expenses, integration and restructuring charges as well as an acquisition-related currency gain.

Net sales increased to $455.32 million from $364.84 million. Analysts estimated revenues of $473.44 million for the quarter.

Hain Celestial US generated $280.4 million in the quarter and in the U.K., Hain Daniels' net sales were $120.2 million. For the Rest of World segment, which comprises operations of Hain Celestial Canada and Hain Celestial Europe, net sales were $54.7 million.

Looking forward to full year 2013, the company expects earnings of $2.40 to $2.47 per share, and net sales in the range of $1.740 billion to $1.755 billion. Analysts currently estimate earnings of $2.42 per share on revenues of $1.77 billion.

HAIN added 3.4 percent to close at $59.40 on Tuesday. The stock fell 4.6 percent in the extended trade.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Tech giants Amazon.com, YouTube and Twitter as well as Verizon Communications are exploring bids for digital streaming rights to the National Football League or NFL's Thursday Night Football package, according to media reports. The NFL is likely to strike a multi-year deal for the digital streaming rights. However, the television audience for the NFL has declined for two consecutive years. Wynn Resorts Ltd. said Friday that former Chief Executive Officer Steve Wynn is not entitled to any severance payment of other compensation from the company. Wynn resigned last week as CEO and Chairman of the board following allegations of sexual misconduct. In a regulatory filing, Wynn Resorts said it entered into a separation agreement between Steve Wynn, and Wynn Resorts Holdings LLC. Beverages giant Coca-Cola Company on Friday reported a net loss for the fourth quarter, reflecting a one-time charge related to the U.S. tax reform and a double-digit decline in revenues. However, adjusted earnings per share matched analysts' expectations, while revenues beat their estimates. The company's shares are rising more than 2 percent in pre-market activity.
comments powered by Disqus
Follow RTT