Hain Celestial Files 10-Q, Focus on Financials & Assets

TL;DR

HAIN 10-Q filed: Financials look stable, managing assets and debt. No major red flags.

AI Summary

Hain Celestial Group Inc. reported its quarterly results for the period ending September 30, 2024. The company's filing indicates a focus on financial instruments and asset management, with specific mentions of interest rate swaps and property, plant, and equipment. The company also referenced a Second Amendment and Restated Credit Agreement dated August 22, 2023.

Why It Matters

This filing provides insight into Hain Celestial's financial health and operational strategies, including its use of financial instruments and management of its physical assets.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediate indicators of significant financial distress or unusual events.

Key Numbers

• N/A — Revenue (Specific revenue figures are not detailed in the provided snippet.)
• N/A — Net Income (Specific net income figures are not detailed in the provided snippet.)
• N/A — Assets (While 'Land' and 'PrepaidExpensesAndOtherCurrentAssets' are mentioned, total asset value is not specified.)

Key Players & Entities

• HAIN CELESTIAL GROUP INC (company) — Filer
• 20240930 (date) — Reporting Period End Date
• 20241107 (date) — Filing Date
• 0000910406 (company) — Central Index Key
• Second Amendment and Restated Credit Agreement (document) — Financial Agreement
• 2023-08-22 (date) — Credit Agreement Date

FAQ

Filing Documents

• hain-20240930.htm (10-Q) — 2032KB
• hain-ex31_1.htm (EX-31.1) — 16KB
• hain-ex31_2.htm (EX-31.2) — 16KB
• hain-ex32_1.htm (EX-32.1) — 9KB
• hain-ex32_2.htm (EX-32.2) — 10KB
• img106520629_0.jpg (GRAPHIC) — 326KB
• 0000950170-24-123246.txt ( ) — 10696KB
• hain-20240930.xsd (EX-101.SCH) — 1495KB
• hain-20240930_htm.xml (XML) — 1889KB

- Financial Information

Part I - Financial Information Page Item 1.

Financial Statements

Financial Statements 3 Consolidated Balance Sheets - September 30, 2024 and June 30, 2024 3 Consolidated Statements of Operations - Three months ended September 30, 2024 and 2023 4 Consolidated Statements of Comprehensive Income (Loss) - Three months ended September 30, 2024 and 2023 5 Consolidated Statement of Stockholders' Equity - Three months ended September 30, 2024 and 2023 6 Consolidated Statements of Cash Flows - Three months ended September 30, 2024 and 2023 8

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 9 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 29 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 40 Item 4.

Controls and Procedures

Controls and Procedures 40

- Other Information

Part II - Other Information Items 3, and 4 are not applicable Item 1.

Legal Proceedings

Legal Proceedings 41 Item 1A.

Risk Factors

Risk Factors 41 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41 Item 5. Other Information 41 Item 6. Exhibits 42

Signatures

Signatures 43 1 Table of Contents

Forward-Looking Statements

Forward-Looking Statements This Quarterly Report on Form 10-Q for the quarter ended September 30, 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 and business strategy, including statements related to Hain Reimagined; 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; changes to consumer preferences; customer concentration; our ability to execute our cost reduction initiatives and related strategic initiatives; reliance on independent distributors; risks associated with operating internationally; the availability of organic ingredients; risks associa

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS THE HAIN CELESTIAL GROUP, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (UNAUDITED) September 30, 2024 AND JUNE 30, 2024 (In thousands, except par values) September 30, June 30, 2024 2024 ASSETS Current assets: Cash and cash equivalents $ 56,853 $ 54,307 Accounts receivable, less allowance for doubtful accounts of $ 1,511 and $ 1,517 , respectively 188,190 179,190 Inventories 270,418 274,128 Prepaid expenses and other current assets 48,570 49,434 Total current assets 564,031 557,059 Property, plant and equipment, net 266,947 261,730 Goodwill 936,341 929,304 Trademarks and other intangible assets, net 250,179 244,799 Investments and joint ventures 10,080 10,228 Operating lease right-of-use assets, net 85,029 86,634 Other assets 22,202 27,794 Total assets $ 2,134,809 $ 2,117,548 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 184,969 $ 188,220 Accrued expenses and other current liabilities 88,160 85,714 Current portion of long-term debt 7,567 7,569 Total current liabilities 280,696 281,503 Long-term debt, less current portion 732,799 736,523 Deferred income taxes 45,397 47,826 Operating lease liabilities, noncurrent portion 78,905 80,863 Other noncurrent liabilities 33,351 27,920 Total liabilities 1,171,148 1,174,635 Commitments and contingencies (Note 16) 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: 111,964 and 111,867 shares, respectively; outstanding: 89,907 and 89,846 shares, respectively 1,120 1,119 Additional paid-in capital 1,233,129 1,230,253 Retained earnings 557,856 577,519 Accumulated other comprehensive loss ( 99,409 ) ( 137,245 ) 1,692,696 1,671,646 Less: Tr

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. Hain Celestial is a leading global health and wellness company whose purpose is to inspire healthier living for people, communities and the planet through better-for-you brands. For more than 30 years, Hain Celestial has intentionally focused on delivering nutrition and well-being that positively impacts today and tomorrow. Headquartered in Hoboken, N.J., Hain Celestial's products across snacks, baby & kids, beverages, meal preparation, and personal care are marketed and sold in over 70 countries around the world. The Company operates under two reportable segments: North America and International. The Company's leading brands include Garden Veggie Snacks, Terra chips, Garden of Eatin' snacks, Hartley's Jelly, Earth's Best and Ella's Kitchen baby and kids foods, Celestial Seasonings teas, Joya and Natumi plant-based beverages, Greek Gods yogurt, Cully & Sully , Yorkshire Provender , New Covent Garden and Imagine soups, Yves and Linda McCartney's (under license) meat-free, and Avalon Organics personal care, among others. 9 Table of Contents 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 includes the Company's equity in the current earnings or losses of such companies. The Company's unaudited consolidated financial statements have been prepared in accordance

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View this 10-Q filing on SEC EDGAR