By Chris Wack
Hain Celestial Group shares were down 14% to $4.04 after the company reported a second-quarter loss that was wider than expected.
The shares hit their 52-week low of $3.28 a share earlier in the session, and are down 58% in the past 12 months.
The food company said it had a quarterly loss $104 million, or $1.15 a share, compared with a loss of $13.5 million, or 15 cents a share, in the same quarter last year. Analysts polled by FactSet were looking for earnings of 8 cents a share.
Sales for the quarter were $411.5 million, compared with last year's $454.1 million and the $430.8 million analysts had forecast.
the company said sales growth was hampered by poor in-store performance in snacks, driven by marketing and promotion effectiveness, and supply-chain challenges.
Hain said it is expecting to see organic sales drop 2% to 4% in fiscal 2025.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
February 10, 2025 13:39 ET (18:39 GMT)
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