Shares of Hain Celestial Group Inc. (NASDAQ: HAIN) plummeted 8.2% in pre-market trading on November 7, 2024, after the organic and natural food company reported disappointing results for the fiscal first quarter of 2025.

The company reported a net loss of $19.7 million, or $0.22 per share, compared to a net loss of $10.4 million, or $0.12 per share, in the year-ago period. Adjusted loss per share of $0.04 missed analysts' expectations of a $0.02 loss.

Revenue declined 7.2% year-over-year to $394.6 million, driven by a 5% drop in organic net sales. However, revenue slightly beat Wall Street estimates of $394.3 million. Gross margin improved by 90 basis points to 20.7%, benefiting from reduced restructuring costs, productivity gains, and favorable product mix.

Hain Celestial's performance was mixed across segments. The snacks business experienced a 9% organic sales decline due to a promotional event timing shift, while the personal care segment saw an 11% organic sales drop as the company focuses on stabilizing the unit.

Despite the challenges, Hain Celestial reaffirmed its fiscal 2025 guidance, expecting organic net sales growth to be flat or better and adjusted EBITDA to grow by mid-single digits. However, investors seemed concerned about the company's ability to achieve these targets, given the weak start to the fiscal year.