Hain Celestial announces Q1 adjusted EPS of 8 cents, surpassing consensus estimate of 5 cents.
Reports Q1 revenue $368M, consensus $361.09M. "First quarter results met our expectations on the top- and bottom-line. During the quarter, organic net sales trends demonstrated sequential improvement in both our North America and International segments. Cost discipline and the decisive actions taken to streamline our cost structure drove a reduction in SG&A, and we are seeing early results from the execution against our '5 actions to win', including benefits from pricing initiatives beginning to build," said Alison Lewis, interim President and CEO. Our near-term priorities remain clear: stabilizing sales, improving profitability, optimizing cash, and deleveraging our balance sheet. We have made tangible progress in laying the operational and financial foundations necessary to position Hain for sustainable growth, and we have building blocks in place to drive improved trends in the back half of the year. In parallel, we continue to make good progress against the strategic review work with Goldman Sachs."
