Hain Celestial: Fiscal 1Q Earnings Snapshot
LAKE SUCCESS, N.Y. (AP) _ The Hain Celestial Group Inc. (HAIN) on Thursday reported a fiscal first-quarter loss of $37.4 million, after reporting a profit in the same period a year earlier.
The Lake Success, New York-based company said it had a loss of 36 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 9 cents per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The organic and natural products company posted revenue of $560.8 million in the period, which also did not meet Street forecasts. Seven analysts surveyed by Zacks expected $587 million.
Hain Celestial expects full-year earnings in the range of $1.21 to $1.38 per share, with revenue in the range of $2.5 billion to $2.56 billion.
Hain Celestial shares have dropped 38 percent since the beginning of the year. The stock has fallen 24 percent in the last 12 months.