Q4 2024 Hain Celestial Group Inc Earnings Call Transcript
Key Points
- The Hain Celestial Group Inc (HAIN) delivered on its updated guidance with organic net sales growth ahead of expectations and adjusted EBITDA at the upper end of guidance.
- Approximately 85% of the business grew in fiscal year 2024 with organic net sales growth of over 3%.
- The company achieved $65 million in savings from operational efficiency initiatives, surpassing the $61 million target.
- Strong progress in the Hain Reimagined strategy, including consolidation of the global manufacturing footprint and exiting nonstrategic categories.
- Significant improvements in free cash flow, enabling debt reduction and leverage improvement.
- Organic net sales growth was negative 4% year over year in the fourth quarter, driven by lower sales in both North America and International segments.
- Adjusted EBITDA for the fourth quarter was $40 million, down from $44 million a year ago.
- SG&A expenses increased by 8% year over year, primarily due to legal expenses and personnel costs.
- The personal care category saw a 20% organic net sales decline in fiscal 2024.
- The company faced persistent supply disruptions in infant formula, impacting sales and requiring recovery efforts.
Greetings, and welcome to Hain Celestial's fiscal fourth quarter 2024 earnings conference call. (Operator Instructions) Please note this conference is being recorded. At this time, I'll turn the conference over to Alexis Tessier with Investor Relations. Alexis, you may now begin.
Good morning, and thank you for joining us for a review of our fourth quarter results. I am joined this morning by Wendy Davidson, our President and Chief Executive Officer; and Lee Boyce, our Chief Financial Officer.
Slide 2 shows our forward-looking statements disclaimer. As you are aware, during the course of this call, we may make forward-looking statements within the meaning of federal securities laws. These include expectations and assumptions regarding the company's future operations and financial performance. These statements are based on our current expectations and involve risks and uncertainties that could cause actual results to differ materially from our expectations.
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