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EX - 99.1 2 exhibit991 pressrelease - ear.htm EX - 99.1 HAIN CELESTIAL Exhibit 99.1 Hain Celestial Reports Second Quarter Fiscal Year 2021 Financial Results Fourth Consecutive Quarter of Net Sales Growth 376 Basis Point Expansion of Gross Margin $ 43.1 Million Improvement in Operating Cash Flow Gross Margin Improvement and Adjusted EBITDA Growth Expected to Continue Lake Success , NY , February 9 , 2021 - The Hain Celestial Group , Inc. ( Nasdaq : HAIN ) ( " Hain Celestial ” , “ Hain " or the " Company " ) , a leading organic and natural products company with operations in North America , Europe , Asia and the Middle East providing consumers with A Healthier Way of Life TM , today reported financial results for the second quarter ended December 31 , 2020. The results contained herein are presented with the Hain Pure Protein and Tilda operating segments being treated as discontinued operations . All growth comparisons are against the corresponding prior year period unless otherwise noted . Mark L. Schiller , Hain Celestial's President and Chief Executive Officer , commented , " We are very pleased with our second quarter results , delivering mid - single digit topline growth , several hundred basis points of gross margin improvement and strong adjusted EBITDA growth . Although the macro operating environment remains challenging , our team continues to execute well against our transformational agenda . As a result , I am confident we will continue to see solid margin expansion and profit growth as we progress through the second half of fiscal year 2021. " FINANCIAL HIGHLIGHTS1 Summary of Second Quarter Results from Continuing Operations² • • • • • • Net sales increased 4 % to $ 528.4 million , or 2 % on a constant currency basis , compared to the prior year period . When adjusted to exclude the effects of foreign exchange , divestitures and discontinued brands , net sales increased 6 % compared to the prior year period . Gross margin of 24.6 % , a 376 basis point increase from the prior year period . Adjusted gross margin of 25.3 % , a 331 basis point increase from the prior year period . Operating income of $ 13.0 million compared to $ 9.2 million in the prior year period . Adjusted operating income of $ 48.1 million compared to $ 29.5 million in the prior year period . Net income of $ 2.2 million compared to $ 1.9 million in the prior year period . Adjusted net income of $ 34.7 million compared to $ 17.6 million in the prior year period . Adjusted EBITDA of $ 62.2 million compared to $ 45.0 million in the prior year period . Adjusted EBITDA margin of 11.8 % , a 288 basis point increase compared to the prior year period . • Earnings per diluted share ( " EPS " ) of $ 0.02 , flat compared to the prior year period . • Adjusted EPS of $ 0.34 compared to $ 0.17 in the prior year period . • • Repurchased 0.9 million shares , or 0.9 % of the outstanding common stock , at an average price of $ 32.15 per share . Net cash provided by continuing operations of $ 63.9 million compared to $ 20.7 million in prior year period . Operating free cash flow from continuing operations of $ 46.3 million compared to $ 4.6 million in prior year period . 1This press release includes certain non - GAAP financial measures , which are intended to supplement , not substitute for , comparable GAAP financial measures . Reconciliations of non - GAAP financial measures to GAAP financial measures and other non - GAAP financial calculations are provided herein in the tables . " 2Unless otherwise noted all results included in this press release are from continuing operations . The Hain Celestial Group , Inc. • 1111 Marcus Avenue ⚫ Lake Success , NY 11042 516-587-5000 ⚫ www.hain.com 1