Hain Celestial stock took a hit on Tuesday following the release of its earnings report for its fiscal fourth quarter of 2018.
Hain Celestial’s (NASDAQ:HAIN) earnings report for its fiscal fourth quarter of the year starts off with earnings per share of 27 cents. This is down from its earnings per share of 41 cents from the same period of the year prior. Despite the drop, this still beat Wall Street’s earnings per share estimate of 26 cents for the quarter, but wasn’t enough to save Hain Celestial stock today.
Hain Celestial also reported a net loss of $69.94 million for its fiscal fourth quarter of 2018. This is a drop from the company’s net income of $313,000 reported in its fiscal fourth quarter of 2017.
During its fiscal fourth quarter of 2018, Hain Celestial reported operating income of $16.58 million. This is better than the American food company’s operating income of $7.17 million reported during the same time last year.
Revenue reported by Hain Celestial for its fiscal fourth quarter came in at $619.60 million. This is an increase over the company’s revenue of $602.89 million that was reported in its fiscal fourth quarter of the previous year. Despite this, it wasn’t able to reach analysts’ revenue estimate of $629.28 million for the period and is dragging Hain Celestial stock down today.
Hain Celestial notes that weak performance from its U.S. division brought down its revenue for its fiscal fourth quarter of 2018. The company’s U.S. revenue was down 6% from the same time last year.
HAIN stock was down 4% as of Tuesday morning and is down 31% year-to-date.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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