Hain Celestial reports Q1 adjusted EPS (4c), consensus (6c)

Reports Q1 revenue $425.029M, consensus $431.32M. “During the quarter, we unveiled Hain Reimagined, our bold strategy to transform the business and deliver sustainable profitable growth,” said Wendy Davidson, President and Chief Executive Officer. “Several initiatives underlying Hain Reimagined showed signs of progress in the fiscal first quarter, contributing to net sales that were in line with our expectations and adjusted EBITDA that beat our guidance.” Davidson continued, “We are realizing early progress in Garden Veggie, the cornerstone of our better-for-you snack platform, and in better-for-you beverages, led by strength in Celestial Seasonings bagged tea and non-dairy beverage in Europe. Our channel expansion strategy delivered incremental distribution in grocery and we’ve made notable progress in away-from-home channels across travel, restaurants, alternative retail, and convenience. These results fortify our confidence in our strategy, and we remain focused on the execution of Hain Reimagined.”