HAIN - Hain Celestial tops sales and adjusted EBITDA estimates

Hain Celestial (HAIN) is on watch after reporting sales rose 3% in FQ1 or +1% on a constant currency basis. Adjusted EBITDA came in at $54.9M vs. $44.2M consensus and $32.1M a year ago. Adjusted gross margin was up 257 bps Y/Y to 25.3% of sales. CEO update: "The strength in adjusted earnings, in both the North America and International segments once again showcases our continued ability to execute against our transformational plan. While the current macro operating environment remains fluid, we remain confident and committed to sustainable long-term growth, including continued gross and adjusted EBITDA margin expansion and double-digit adjusted EBITDA growth in fiscal year 2021." Looking ahead, Hain expects mid-single digit topline growth in FQ2 with several hundred basis points of gross margin improvement and adjusted EBITDA growth similar to the growth in the second half of the prior year. Shares of Hain are flat in AH trading

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Hain Celestial tops sales and adjusted EBITDA estimates