- Hain Celestial Group Inc. experienced a 2% YoY sales decline in Q4 FY23, with an offset by yogurt and baby product sales.
- The decrease in sales was primarily driven by a reduction in the personal care and ParmCrisps segments.
- The company oversaw a transition in the position of CFO during this period.
The organic and natural products company, Hain Celestial Group Inc. (NASDAQ: HAIN), experienced a 2% Year-Over-Year (YoY) sales decline in its fourth-quarter fiscal year 2023 (Q4 FY23). The reported sales of $447.84 million albeit did surpass the analysts' consensus of $442.40 million, thereby somehow mitigating the blow of the contraction.
The North American region primarily contributed to the revenue contraction with a 5.1% decline YoY, tallying at $447.84 million, overtaking the analyst consensus of $442.4 million. On adjusting the sales for various factors, we found the decline narrows down to 4.3%. Primarily, the sales slump was driven by lower sales in the personal care and ParmCrisps categories that have seen reduced customer distribution and promotion.
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