Hain Celestial pitches organic growth outlook into negative territory [Yahoo! Finance]
The Hain Celestial Group, Inc. (HAIN)
Last the hain celestial group, inc. earnings: 2/6 07:30 am
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Source: Yahoo! Finance
Issues with baby formula and snacks, along with the personal care part of the business, have prompted Hain Celestial to predict negative organic growth of 3-4% for the 2024 fiscal year as that metric fell 3.7% in the third quarter. As recently as February, organic growth was envisaged by the tea and alt-dairy drinks maker at 1% “or more”, which in itself represented a cut from the positive 2-4% previous outlook. Finance chief Lee Boyce said today (8 May) the third-quarter results “were below our expectations” as Hain Celestial also trimmed its adjusted EBITDA range to $150-155m, from the $155-160m in February. That also marked a cut from the prior estimate of $155-165m. “Our infant-formula business did not recover as expected as our supplier did not meet their commitment, execution in our snacks business did not meet our standards, and stabilisation of our personal-care business is taking longer than expected,” Boyce explained as the factors behind the less upbeat outlook. Th
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News
- Hot Beverages (Coffee and Tea) Global Strategic Business Report 2024-2030 - Growing Demand for Protein-Fortified, Organic, and Functional Beverages [Yahoo! Finance]Yahoo! Finance
- The Hain Celestial Group, Inc. (NASDAQ: HAIN) had its price target lowered by analysts at DA Davidson from $10.00 to $8.00. They now have a "neutral" rating on the stock.MarketBeat
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- The Hain Celestial Group, Inc. (NASDAQ: HAIN) had its price target lowered by analysts at Mizuho from $10.00 to $8.00. They now have a "neutral" rating on the stock.MarketBeat
- The Hain Celestial Group, Inc. (NASDAQ: HAIN) had its price target lowered by analysts at Barclays PLC from $8.00 to $7.00. They now have an "equal weight" rating on the stock.MarketBeat
HAIN
Earnings
- 5/8/24 - Beat
HAIN
Sec Filings
- 5/15/24 - Form 4
- 5/13/24 - Form 4
- 5/13/24 - Form 4
- HAIN's page on the SEC website