RTTNews | Aug 26, 2021 07:49AM EDT

07:48 Thursday, August 26, 2021 (RTTNews.com) - While reporting financial results for the fourth quarter on Thursday, organic and natural products company Hain Celestial Group, Inc. (HAIN) initiated adjusted net sales growth and adjusted EBITDA growth guidance for the full year 2022.

For fiscal 2022, the company now projects adjusted net sales growth in the low single digit percentage and adjusted EBITDA growth in the mid-to-high single digit percentage.

On average, 11 analysts polled by Thomson Reuters expect the company to report a sales decline of 3.7 percent to $1.98 billion for the year.

The company is announcing today that its Board of Directors has approved an additional $300 million share repurchase authorization.

For the fourth quarter, net income soared to $40.5 million or $0.40 per share from $3.7 million $0.04 per share in the prior-year quarter. Excluding items, adjusted earnings for the quarter was $0.39 per share, compared to $0.32 per share in the year-ago quarter.

Net sales for the quarter decreased 12 percent to $450.7 million from $511.7 million in the same quarter last year. Net sales also declined 17 percent on a constant currency basis and 8 percent on an organic basis.

The Street was looking for earnings of $0.39 per share on revenues of $459.23 million for the quarter.

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