Hain Celestial has booked improved second-quarter sales and earnings, boosted by the performance of its international and protein units.
The company said net sales rose 8% in the three months to the end of December, rising to US$752.6m. The group’s top line performance accelerated in the second quarter. For the first half, sales rose at the slightly slower pace of 7.1%.
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Excluding currency exchange, second-quarter sales were up 11% thanks to an increase in revenue from its overseas and protein divisions of 12% and 21% on a constant-currency basis. The results were partially offset by a 4.7% drop in US sales during the three-month period.
Operating income stood at $87.7m, versus $74m a year ago. Adjusted for factors including M&A, restructuring and integration charges, second-quarter adjusted operating income reached $92.9m, against $87.4m a year earlier.
Adjusted operating margins dipped, falling from 12.5% to 12.3% a year ago. However, Hain Celestial did see this margin metric improve quarter on quarter. In the first three months of the year, its adjusted operating margin was 9.1%.
Net income increased to $56.9m in the quarter compared to $44.5m last year. For the half, net earnings increased to $88.2m versus $63.4m.
Looking to the full year, Hain Celestial reaffirmed its forecast for sales of $2.9-3.04bn – up 7-12% – and for earnings of $1.95 to $2.10 per share, up 4-12%.
Last month, the Tilda rice and Ella’s Kitchen baby food owner cut its guidance for the year.
