Hain Celestial has cut its guidance for 2016 and predicted second-quarter results below analyst expectations.
The US natural foods group said it now anticipates full-year sales of US$2.9-3.04bn and earnings per share in the range of $1.95-2.10. Previously, Hain had forecast revenue of $2.97-3.11bn and EPS of $2.11-1.26.
The group also revealed it anticipates second-quarter sales of $740-760m and EPS of $0.53-0.56. Analyst consensus expectations were for sales of $767m and earnings of $0.57 a share in the quarter to end-December.
Hain said the second-quarter guidance reflected the “continuing strong performance” of its Hain Pure Protein division and its international businesses “in constant currency”. However, the Earth’s Best owner noted that was “offset by certain impacts relating to the United States segment including lower consumption and reductions in shipments and inventories at certain customers”.
Tha announcement was released ahead of Hain Celestial’s scheduled presentation at the ICR Conference later today (12 January).
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