Hain Celestial Group Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Hain Celestial Group Inc. filed its Q3 FY24 10-Q report, detailing financial positions and historical company information.</b>

AI Summary

HAIN CELESTIAL GROUP INC (HAIN) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. Hain Celestial Group Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the third quarter of fiscal year 2024. The company's principal executive offices are located at 221 River Street, 12th Floor, Hoboken, NJ 07030. The company was formerly known as Hain Food Group Inc. The filing includes financial data related to common stock, additional paid-in capital, retained earnings, treasury stock, and accumulated other comprehensive income for various periods.

Why It Matters

For investors and stakeholders tracking HAIN CELESTIAL GROUP INC, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial performance and position of Hain Celestial Group Inc., crucial for assessing the company's health and investment potential. Understanding the detailed financial statements and disclosures in this report allows stakeholders to evaluate the company's operational efficiency, profitability, and any potential risks or opportunities.

Risk Assessment

Risk Level: medium — HAIN CELESTIAL GROUP INC shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q) which, while containing important financial data, does not inherently signal significant positive or negative developments beyond routine disclosures. The risk is medium due to the inherent uncertainties in financial reporting and market conditions.

Analyst Insight

Review the detailed financial statements within the 10-Q to identify trends in revenue, expenses, and profitability, and compare them to previous periods and industry benchmarks.

Key Numbers

• 2024-03-31 — Conformed Period of Report (This is the end date for the reporting period.)
• 2024-05-08 — Filed As Of Date (The date the report was officially filed with the SEC.)
• 2024 Q3 — Fiscal Quarter (Indicates the filing is for the third quarter of the fiscal year.)
• 0630 — Fiscal Year End (The company's fiscal year ends on June 30th.)

Key Players & Entities

• HAIN CELESTIAL GROUP INC (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-08 (date) — Filed as of date
• 221 RIVER STREET, 12TH FLOOR (address) — Business address
• HOBOKEN (city) — Business address city
• NJ (state) — Business address state
• 07030 (zip_code) — Business address zip
• HAIN FOOD GROUP INC (company) — Former company name

FAQ

Key Dates

• 2024-03-31: End of Reporting Period — Marks the conclusion of the financial period covered by the 10-Q.
• 2024-05-08: Filing Date — The date the 10-Q was officially submitted to the SEC.

Filing Documents

• hain-20240331.htm (10-Q) — 1950KB
• exhibit101-bellairsseparat.htm (EX-10.1) — 56KB
• hain-331202410qxex311.htm (EX-31.1) — 10KB
• hain-331202410qxex312.htm (EX-31.2) — 10KB
• hain-331202410qxex321.htm (EX-32.1) — 5KB
• hain-331202410qxex322.htm (EX-32.2) — 5KB
• hain-20240331_g1.jpg (GRAPHIC) — 326KB
• 0000910406-24-000038.txt (&nbsp;) — 11839KB
• hain-20240331.xsd (EX-101.SCH) — 69KB
• hain-20240331_cal.xml (EX-101.CAL) — 110KB
• hain-20240331_def.xml (EX-101.DEF) — 383KB
• hain-20240331_lab.xml (EX-101.LAB) — 803KB
• hain-20240331_pre.xml (EX-101.PRE) — 629KB
• hain-20240331_htm.xml (XML) — 2051KB

- Financial Information Page

Part I - Financial Information Page

Financial Statements

Item 1. Financial Statements Consolidated Balance Sheets - March 31, 2024 and June 30, 2023 3 Consolidated Statements of Operations - Three and nine months ended March 31, 2024 and 2023 4 Consolidated Statements of Comprehensive Loss - Three and nine months ended March 31, 2024 and 2023 5 Consolidated Statement of Stockholders' Equity - Three and nine months ended March 31, 2024 and 2023 6 Consolidated Statements of Cash Flows - Nine months ended March 31, 2024 and 2023 8

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 9

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 37

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 53

Controls and Procedures

Item 4. Controls and Procedures 54

- Other Information

Part II - Other Information Items 3 and 4 are not applicable.

Legal Proceedings

Item 1. Legal Proceedings 55

Risk Factors

Item 1A. Risk Factors 55

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 55

Other Information

Item 5. Other Information 56

Exhibits

Item 6. Exhibits 56

Signatures

Signatures 57 1 Table of Contents

Forward-Looking Statements

Forward-Looking Statements This Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 (the "Form 10-Q") contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties and assumptions. If the risks or uncertainties ever materialize or the assumptions prove incorrect, the results of The Hain Celestial Group, Inc. (collectively with its subsidiaries, the "Company," "Hain Celestial," "we," "us" or "our") may differ materially from those expressed or implied by such forward-looking statements. The words "believe," "expect," "anticipate," "may," "should," "plan," "intend," "potential," "will" and similar expressions are intended to identify such forward-looking statements. Forward-looking statements include, among other things: our beliefs or expectations relating to our future performance, results of operations and financial condition; our strategic initiatives (including statements related to Hain Reimagined and our related investments in our business); our business strategy; our supply chain, including the availability and pricing of raw materials; our brand portfolio; pricing actions and product performance; inflation rates; and current or future macroeconomic trends. Risks and uncertainties that may cause actual results to differ materially from forward-looking statements include: challenges and uncertainty resulting from the impact of competition; our ability to manage our supply chain effectively; input cost inflation, including with respect to freight and other distribution costs; disruption of operations at our manufacturing facilities; reliance on independent contract manufacturers; impairments in the carrying amount of goodwill or other intangible assets; changes to consumer preferences; customer concentration; reliance on independent distributors; risks associated with operating internationally; pending and future litigat

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS THE HAIN CELESTIAL GROUP, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (UNAUDITED) MARCH 31, 2024 AND JUNE 30, 2023 (In thousands, except par values) March 31, June 30, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 49,549 $ 53,364 Accounts receivable, less allowance for doubtful accounts of $ 1,786 and $ 2,750 , respectively 191,192 160,948 Inventories 281,399 310,341 Prepaid expenses and other current assets 49,813 66,378 Total current assets 571,953 591,031 Property, plant and equipment, net 264,470 296,325 Goodwill 936,135 938,640 Trademarks and other intangible assets, net 250,265 298,105 Investments and joint ventures 10,456 12,798 Operating lease right-of-use assets, net 87,599 95,894 Other assets 28,356 25,846 Total assets $ 2,149,234 $ 2,258,639 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 179,068 $ 134,780 Accrued expenses and other current liabilities 85,736 88,520 Current portion of long-term debt 7,569 7,567 Total current liabilities 272,373 230,867 Long-term debt, less current portion 769,948 821,181 Deferred income taxes 52,310 72,086 Operating lease liabilities, noncurrent portion 82,435 90,014 Other noncurrent liabilities 27,681 26,584 Total liabilities 1,204,747 1,240,732 Commitments and contingencies (Note 17) Stockholders' equity: Preferred stock - $ .01 par value, authorized 5,000 shares; issued and outstanding: none — — Common stock - $ .01 par value, authorized 150,000 shares; issued: 111,850 and 111,339 shares, respectively; outstanding: 89,834 and 89,475 shares, respectively 1,119 1,113 Additional paid-in capital 1,227,684 1,217,549 Retained earnings 580,456 652,561 Accumulated other comprehensive loss ( 136,072 ) ( 126,216 ) 1,673,187 1,745,007 Less: Treasury stock, at cost, 22,016 and 21,864 shares, respectively ( 728,700 ) ( 727,100 ) Total stockholders' equity 944,487 1,017,907 Total liabilities and stockhold

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Amounts in thousands, except par values and per share data) 1. BUSINESS The Hain Celestial Group, Inc., a Delaware corporation (collectively with its subsidiaries, the "Company," "Hain Celestial," "we," "us" or "our"), was founded in 1993 and is headquartered in Hoboken, New Jersey. The Company's mission has continued to evolve since its founding, with health and wellness being the core tenet. The Company continues to be a leading marketer, manufacturer, and seller of organic and natural, "better-for-you" products by anticipating and exceeding consumer expectations in providing quality, innovation, value and convenience. The Company is committed to growing sustainably while continuing to implement environmentally sound business practices and manufacturing processes. Hain Celestial sells its products through specialty and natural food distributors, supermarkets, natural food stores, mass-market and e-commerce retailers, food service channels and club, drug, and convenience stores worldwide. The Company operates under two reportable segments: North America and International. 2. BASIS OF PRESENTATION The Company's unaudited consolidated financial statements include the accounts of the Company and its wholly-owned and majority-owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. Investments in affiliated companies in which the Company exerts significant influence, but which it does not control, are accounted for under the equity method of accounting. As such, consolidated net (loss) income includes the Company's equity in the current losses or earnings of such companies. The Company's unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do

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