Hain Celestial gains on restructuring plan, change in logo

Hain Celestial

13/09/2023 19:03

** Shares of Hain Celestial  HAIN.O  rise 8% to $10.6 after
the organic products maker announces business transformation
strategies
    ** Stock on track for biggest single-day percentage gain
since October 2022
    ** Co announces business transformation strategy, 'Hain
Reimagined' at its Investors Day 2023, unveils new logo 
    ** Expects revenue growth and capital management program to
deliver $400 mln in free cash by FY27
    ** Plan sees compound annual growth rate of net sales to
rise by 3%, adj. EBITDA margin to rise by 12% by FY27
    ** Co's restructuring program targets $130 mln to $150 mln
in savings, $165 mln conversion of working capital cash by FY27
    ** Expects to incur one-time restructuring charge of $90 to
$100 mln 
    ** HAIN down 34.7% YTD, including session gains

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thopmsonreuters.com))