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The Hain Celestial Group Inc. (HAIN-6.21%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports net sales of $411.5 million for the quarter, a decrease from $454.1 million in the same period the previous year. This decline is attributed to divestitures, discontinued brands, and exited product categories.
The company's gross profit for the quarter was $93.5 million, down from $102.2 million in the prior year. The gross profit margin increased slightly to 22.7% from 22.5%.
Selling, general, and administrative expenses decreased to $70.2 million from $74.0 million, primarily due to lower employee-related expenses.
The company recorded a goodwill impairment charge of $91.3 million related to its U.S. reporting unit, contributing to an operating loss of $91.9 million for the quarter.
Interest and other financing expenses were $12.8 million, a decrease from $16.1 million, reflecting lower outstanding debt and reduced borrowing rates.
The company reported a net loss of $104.0 million, or $1.15 per diluted share, compared to a net loss of $13.5 million, or $0.15 per diluted share, in the prior year.
Adjusted EBITDA for the quarter was $37.9 million, down from $47.1 million in the previous year, due to lower sales and increased promotional activity.
The company continues to implement its Hain Reimagined Program, aiming to optimize its portfolio and improve profitability by the end of fiscal 2027.
The filing also details ongoing legal proceedings, including consumer class actions related to the presence of heavy metals in baby food products and an SEC investigation into certain accounting matters.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the The Hain Celestial Group Inc. quarterly 10-Q report dated February 10, 2025. To report an error, please email earnings@qz.com.