The Hain Celestial Group Inc. (NASDAQ:HAIN) reported higher profit for the first quarter as revenue showed growth. Hain Celestial Group manufactures, markets, distributes and sells natural and organic specialty and snack food products and natural personal care products.
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The Hain Celestial Group Inc. Earnings Cheat Sheet
Results: Net income for The Hain Celestial Group Inc. rose to $19.8 million (35 cents per share) vs. $12.6 million (26 cents per share) in the same quarter a year earlier. This marks a rise of 57.1% from the year-earlier quarter.
Revenue: Rose 25.5% to $359.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: The Hain Celestial Group Inc. fell short of the mean analyst estimate of 39 cents per share. It fell short of the average revenue estimate of $405.5 million.
Quoting Management: “We had a strong start to our fiscal year with solid growth of our business led by Hain Celestial United States and with contributions from our expanded international operations during our first quarter. Our increased scale provided us the leverage for improved operating efficiencies across our global portfolio enabling us to deliver solid results from all of our segments. At the same time, our cash conversion cycle improved to 66 days compared 83 days during the first quarter last year,” said Irwin D. Simon, Founder, President and Chief Executive Officer of Hain Celestial.
The company fell short of forecasts after beating estimates in the previous two quarters. In the fourth quarter of the last fiscal year, it topped the mark by 2 cents, and in the third quarter of the last fiscal year, it was ahead by 4 cents.
Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the second quarter has moved up from 61 cents a share to 69 cents over the last ninety days. For the fiscal year, the average estimate has moved up from $2.10 a share to $2.38 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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