Hain Celestial said that it hit a new record in net sales for its first quarter, having seen strong performances across many of its segments.
“We continued to benefit from the diversification of our business across our branded organic and natural product categories, sales channels, and geographies, which fueled solid worldwide results in our typically lowest sales and profitability quarter,” said Irwin D. Simon, Founder, President, and CEO.
For the company’s first quarter of 2016, Hain Celestial said it reached net sales of $687.2 million, a 9% increase over the prior year period.
The FreeBird® and Plainville Farms® brands both grew 27%.
The company reported that its United States segment reported first quarter net sales of $331 million. This segment didn’t meet its expectations, however, as strong performance in its snacks, yogurt, tea, and personal care brands was overshadowed by “temporary disruptions from some of our distributor and retail customers as well as a decline in grocery brands associated with deceleration in the natural channel,” said Simon.
Other highlights from the quarter include:
For its fiscal year 2016 outlook, Hain said that it expects a total net sales range of $2.97 billion to $3.11 billion, a 10% to 15% increase when compared to fiscal year 2015.
“We remain optimistic about our growth opportunities in fiscal 2016 and beyond,” said Simon. “We expect to build momentum throughout the year across our global footprint through the strength of our diversified product portfolio and customer base while investing in our brands and gaining distribution in the important health and wellness category.”
As of November 9, 2015 at 4:10 pm EST, Hain’s stock was up 1.87% to $46.76.
