Hain missed estimates on the top line but beat on the bottom line. The company expects a return to organic-sales growth in the new fiscal year.
HAIN's fourth-quarter fiscal 2024 results show increased earnings on the back of the effectiveness of the Hain Reimagined strategy despite a year-over-year decline in sales.
Hain Celestial (HAIN) came out with quarterly earnings of $0.13 per share, beating the Zacks Consensus Estimate of $0.08 per share. This compares to earnings of $0.11 per share a year ago.
Shares of Hain Celestial Group Inc. HAIN, +5.56% tacked on 1.5% in premarket trading Tuesday, after the better-for-you foods company beat fourth-quarter profit expectations although sales fell a bit short, as gross margin improved. The net loss for the quarter to June 30 narrowed to $2.9 million, or 3 cents a share, from $18.7 million, or 21 cents a share, in the same period a year ago.
Hain Celestial's (HAIN) fourth-quarter fiscal 2024 earnings are likely to reflect weakness in the North America segment. However, its focus on Reimagined strategy is an upside.
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