RTTNews | Jan 18, 2022 07:21AM EST

07:21 Tuesday, January 18, 2022 (RTTNews.com) - The Hain Celestial Group, Inc. (HAIN) has appointed Chris Bellairs to the role of Executive Vice President and Chief Financial Officer, effective February 4, 2022. Prior to joining Hain Celestial, Bellairs served as the Chief Financial Officer of Stone Brewing. Bellairs will succeed Hain current Executive Vice President and Chief Financial Officer, Javier Idrovo. Idrovo will continue to serve as Chief Financial Officer until February 4, 2022.

Hain Celestial said it expects second quarter adjusted net sales down 1% to 3% compared to last year, resulting in adjusted net sales in the first half down 0.5% to 1.5%, compared to prior year. The company noted that these results are at the high end of its previously issued guidance, of a low single-digit percentage decrease for the first half of fiscal 2022.

The company expects second quarter adjusted EBITDA down 4% to 6% from a year ago, with adjusted EBITDA margins above prior year. Adjusted EBITDA in the first half of fiscal year 2022 is projected to be down 8.5% to 9.5%. The company noted that these results are slightly below its previously issued guidance of a mid single-digit percentage decrease for the first half of fiscal year 2022, driven by industry-wide inflation, supply chain and labor challenges.

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