Hain Celestial misses 3Q profit forecasts
LAKE SUCCESS, N.Y. (AP) _ The Hain Celestial Group Inc. (HAIN) on Thursday reported fiscal third-quarter earnings of $31.3 million.
On a per-share basis, the Lake Success, New York-based company said it had profit of 30 cents. Earnings, adjusted for non-recurring costs, came to 33 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The organic and natural products company posted revenue of $706.6 million in the period.
For the current quarter ending in June, Hain Celestial expects its per-share earnings to range from 40 cents to 43 cents.
The company said it expects revenue in the range of $715 million to $735 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $721.2 million.
Hain Celestial expects full-year earnings in the range of $1.19 to $1.22 per share, with revenue ranging from $2.84 billion to $2.86 billion.
Hain Celestial shares have fallen 15 percent since the beginning of the year. The stock has declined 37 percent in the last 12 months.
Keywords: Hain Celestial, Earnings Report