Hain Celestial eyes record gain after Q4 profit beat

Hain Celestial

27/08/2024 17:01

** Hain Celestial Group  HAIN.O  shares up 25.7% at $8.59, a
5-mth high, on Tues after organic products firm's qtrly profit
tops expectations
    ** Shares on course for biggest daily pct gain ever
    ** Terra vegetable chips maker early Tues posted Q4 adj EPS
of 13 cents vs LSEG estimate of 8 cents
    ** Rev in qtr fell 6% yr/yr to ~$419 mln compared to
consensus view of ~$421 mln
    ** It reported Q4 loss of $3 mln, or 3 cents/sh, down from
loss of ~$19 mln, or 21 cents/sh, a yr-ago
    ** Jefferies, which has "hold" rating, says EPS beat driven
by margin improvement, adding progress being made in portfolio
and expects benefits to accrue in fiscal 2025
    ** HAIN last Sept announced business restructuring plan,
'Hain Reimagined', a multi-year strategy aimed to drive
long-term profitable growth, and unveiled new logo
    ** 5 of 15 analysts covering HAIN rate stock "strong buy" or
"buy", rest "hold" and median PT is $8.50 - LSEG
    ** With move on the session, shares off 22% YTD following
32% drop in 2023

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))