Hain Celestial issues upbeat full year guidance after forecast beating fourth quarter

Hain Celestial issues upbeat full year guidance after forecast beating fourth quarter

Food and beverage company, The Hain Celestial Group Inc. (NYSE:HAIN) has comfortably beat market forecast for its fourth quarter results and issued upbeat guidance for the full year 2018.

The company said net income in the fourth quarter came in at US$313.0mln or breakeven earnings per share. It reported a loss of US$88.6mln or 86 US cents per share the year before.

The company’s brands include: Celestial Seasonings, Arrowhead Mills, and Rudi's Organic Bakery.
Company ups fiscal 2018 sales

Adjusted EPS was 43 US cents, beating the 40 US cents market consensus.

Sales was lower at US$725.1mln from the US$737.5mln recorded the year before but still ahead of the market estimate for US$719.0mln.

Hain Celestial has now upped its fiscal 2018 sales to between US$2.967bn and US$3.036bn, with adjusted EPS of US$1.63 to US$1.80.

The market consensus is for 2018 sales of US$2.97bn and EPS of US$1.65.

Hain Celestial shares are up 8.47% at US$40.61 in premarket trade.