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BUZZ-Hain Celestial falls to a near-three-decade low after cutting annual forecasts

Reuters
Feb 10, 2025
BUZZ-Hain Celestial falls to a near-three-decade low after cutting annual forecasts

** Organic and natural products company Hain Celestial's HAIN.O shares plunge 25% to a more than 27-year low of $3.52 in early market trade

** Co now sees full-year organic net sales to be down 2 to 4% vs previous forecast of flat or above growth, due to a challenging macroeconomic backdrop

** Also sees annual adjusted EBITDA to be flat, compared with the previous mid-single-digits growth forecast

** Reports Q2 sales decline of 9% to $411.5 million vs estimates of $431.6 million - data compiled by LSEG

** Says sales decrease was driven by lower demand in snacks, personal care segment segments

** Posts Q2 adjusted EPS of 8 cents, below estimates of 12 cents

** HAIN fell 44% in 2024

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))

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