Benzinga | Jan 18, 2022 07:23AM EST

Hain Celestial Sees Prelim. Q2 Adj. Net Sales Down 1-3%

Financial Update

Hain Celestial also announced it is finalizing its second quarter fiscal year 2022 financial results and expects to report:

Second quarter adjusted net sales down 1% to 3% compared to the same quarter in the prior year, resulting in adjusted net sales in the first half of fiscal year 2022 down 0.5% to 1.5%, compared to first half of the prior year.? These results are at the high end of the Company?s previously issued guidance, of a low single-digit percentage decrease for the first half of fiscal year 2022.

Second quarter adjusted EBITDA down 4% to 6% compared to the same quarter in the prior year, with adjusted EBITDA margins above the same quarter last year. Adjusted EBITDA in the first half of fiscal year 2022 is projected to be down 8.5% to 9.5% compared to the first half of the prior year. These? results are slightly below the Company?s previously issued guidance of a mid single-digit percentage decrease for the first half of fiscal year 2022, driven by well-publicized industry-wide inflation, supply chain and labor challenges.