Company Quick10K Filing
Hain Celestial Group
Price21.54 EPS-2
Shares104 P/E-9
MCap2,245 P/FCF48
Net Debt305 EBIT-247
TEV2,550 TEV/EBIT-10
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-03-31 Filed 2020-05-07
10-Q 2019-12-31 Filed 2020-02-06
10-Q 2019-09-30 Filed 2019-11-07
10-K 2019-06-30 Filed 2019-08-29
10-Q 2019-03-31 Filed 2019-05-09
10-Q 2018-12-31 Filed 2019-02-07
10-Q 2018-09-30 Filed 2018-11-08
10-K 2018-06-30 Filed 2018-08-29
10-Q 2018-03-31 Filed 2018-05-08
10-Q 2017-12-31 Filed 2018-02-07
10-Q 2017-09-30 Filed 2017-11-07
10-K 2017-06-30 Filed 2017-09-13
10-Q 2017-03-31 Filed 2017-06-22
10-Q 2016-12-31 Filed 2017-06-22
10-K 2016-09-30 Filed 2017-06-22
10-K 2016-06-30 Filed 2017-06-22
10-Q 2016-03-31 Filed 2016-05-10
10-Q 2015-12-31 Filed 2016-02-09
10-Q 2015-09-30 Filed 2015-11-09
10-K 2015-06-30 Filed 2015-08-21
10-Q 2015-03-31 Filed 2015-05-11
10-Q 2014-12-31 Filed 2015-02-09
10-Q 2014-09-30 Filed 2014-11-07
10-K 2014-06-30 Filed 2014-08-27
10-Q 2014-03-31 Filed 2014-05-12
10-Q 2013-12-31 Filed 2014-02-10
10-Q 2013-09-30 Filed 2013-11-12
10-K 2013-06-30 Filed 2013-08-29
10-Q 2013-03-31 Filed 2013-05-10
10-Q 2012-12-31 Filed 2013-02-11
10-Q 2012-09-30 Filed 2012-11-09
10-K 2012-06-30 Filed 2012-08-29
10-Q 2012-03-31 Filed 2012-05-09
10-Q 2011-12-31 Filed 2012-02-09
10-Q 2011-09-30 Filed 2011-11-09
10-K 2011-06-30 Filed 2011-08-29
10-Q 2011-03-31 Filed 2011-05-10
10-Q 2010-12-31 Filed 2011-02-09
10-Q 2010-09-30 Filed 2010-11-09
10-K 2010-06-30 Filed 2010-08-30
10-Q 2010-03-31 Filed 2010-05-10
10-Q 2009-12-31 Filed 2010-02-09
8-K 2020-05-07
8-K 2020-03-24
8-K 2020-02-06
8-K 2019-11-19
8-K 2019-11-07
8-K 2019-11-07
8-K 2019-11-04
8-K 2019-11-01
8-K 2019-10-04
8-K 2019-08-29
8-K 2019-07-01
8-K 2019-06-25
8-K 2019-05-28
8-K 2019-05-09
8-K 2019-05-09
8-K 2019-04-17
8-K 2019-02-15
8-K 2019-02-07
8-K 2019-01-07
8-K 2018-12-11
8-K 2018-12-07
8-K 2018-11-08
8-K 2018-10-26
8-K 2018-10-26
8-K 2018-08-28
8-K 2018-06-24
8-K 2018-05-08
8-K 2018-02-07
8-K 2018-02-06

HAIN 10Q Quarterly Report

Part I - Financial Information
Item 1. Financial Statements
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II - Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 6. Exhibits
EX-10.1 hain-331202010qxex101.htm
EX-10.2 hain-331202010qxex102.htm
EX-31.1 hain-331202010qxex311.htm
EX-31.2 hain-331202010qxex312.htm
EX-32.1 hain-331202010qxex321.htm
EX-32.2 hain-331202010qxex322.htm

Hain Celestial Group Earnings 2020-03-31

Balance SheetIncome StatementCash Flow
3.42.72.01.40.70.02012201420172020
Assets, Equity
0.80.60.40.20.0-0.22012201420172020
Rev, G Profit, Net Income
0.30.20.0-0.1-0.3-0.42012201420172020
Ops, Inv, Fin

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________________________ 
FORM 10-Q
___________________________________________ 
(Mark One)
Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the quarterly period ended March 31, 2020
or
Transition Report pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
for the transition period from                      to                     
Commission File No. 0-22818
___________________________________________ 
hain-20200331_g1.jpg
THE HAIN CELESTIAL GROUP, INC.
(Exact name of registrant as specified in its charter)
___________________________________________ 
Delaware22-3240619
(State or other jurisdiction
of incorporation)
(I.R.S. Employer Identification No.)

1111 Marcus Avenue, Lake Success, NY 11042
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code: (516587-5000
Former name, former address and former fiscal year, if changed since last report: N/A
___________________________________________ 


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Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $.01 per shareHAINThe NASDAQ Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.     
Yes  ý    No  ¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes  ý    No  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filerAccelerated filer¨
Non-accelerated filer¨Smaller reporting companyEmerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes      No  ý

As of April 30, 2020, there were 101,954,182 shares outstanding of the registrant’s Common Stock, par value $.01 per share.


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THE HAIN CELESTIAL GROUP, INC.
Index
  
Part I - Financial InformationPage
Item 1.
Item 2.
Item 3.
Item 4.
Part II - Other Information
Items 3, 4 and 5 are not applicable
Item 1.
Item 1A.
Item 2.
Item 6.

 
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Cautionary Note Regarding Forward Looking Information

This Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 (the “Form 10-Q”) contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, relating to our business and financial outlook, which are based on our current beliefs, assumptions, expectations, estimates, forecasts and projections about future events only as of the date of this Quarterly Report on Form 10-Q, and are not statements of historical fact. We make such forward-looking statements pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995.

Many of our forward-looking statements include discussions of trends and anticipated developments under the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section of this Quarterly Report on Form 10-Q. In some cases, you can identify forward-looking statements by terminology such as the use of “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “projects,” “intends,” “predicts,” “potential,” or “continue” and similar expressions, or the negative of those expressions. These forward-looking statements include, among other things, our beliefs or expectations relating to our business strategy, growth strategy, market price, brand portfolio and product performance, the seasonality of our business and our results of operations and financial condition. These forward-looking statements are not guarantees of our future performance and involve risks, uncertainties, estimates and assumptions that are difficult to predict. Therefore, our actual outcomes and results may differ materially from those expressed in these forward-looking statements. You should not place undue reliance on any of these forward-looking statements. Further, any forward-looking statement speaks only as of the date hereof, unless it is specifically otherwise stated to be made as of a different date. We undertake no obligation to further update any such statement to reflect new information, the occurrence of future events or circumstances or otherwise.

The forward-looking statements in this filing do not constitute guarantees or promises of future performance. Factors that could cause or contribute to such differences may include, but are not limited to, challenges and uncertainty resulting from the COVID-19 pandemic, the impact of competitive products and changes to the competitive environment, changes to consumer preferences, the United Kingdom's exit from the European Union, consolidation of customers or the loss of a significant customer, reliance on independent distributors, general economic and financial market conditions, risks associated with our international sales and operations, our ability to manage our supply chain effectively, volatility in the cost of commodities, ingredients, freight and fuel, our ability to execute and realize cost savings initiatives, including stock-keeping unit (“SKU”) rationalization plans, the impact of our debt and our credit agreements on our financial condition and our business, our ability to manage our financial reporting and internal control system processes, potential liabilities due to legal claims, government investigations and other regulatory enforcement actions, costs incurred due to pending and future litigation, potential liability, including in connection with indemnification obligations to our current and former officers and members of our Board of Directors that may not be covered by insurance, potential liability if our products cause illness or physical harm, impairments in the carrying value of goodwill or other intangible assets, our ability to consummate divestitures, our ability to integrate past acquisitions, the availability of organic ingredients, disruption of operations at our manufacturing facilities, loss of one or more independent co-packers, disruption of our transportation systems, risks relating to the protection of intellectual property, the risk of liabilities and claims with respect to environmental matters, the reputation of our brands, our reliance on independent certification for a number of our products and other risks described in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2019 under the heading “Risk Factors”, as supplemented by Part II, Item 1A of this Quarterly Report on Form 10-Q under the heading "Risk Factors", and Part I, Item 2 of this Quarterly Report on Form 10-Q under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations” as well as in other reports that we file in the future.



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PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS
THE HAIN CELESTIAL GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
MARCH 31, 2020 AND JUNE 30, 2019
(In thousands, except par values)
March 31,June 30,
20202019
ASSETS
Current assets:
Cash and cash equivalents$41,549  $31,017  
Accounts receivable, less allowance for doubtful accounts of $851 and $588, respectively
237,719  209,990  
Inventories238,133  299,341  
Prepaid expenses and other current assets86,653  51,391  
Current assets of discontinued operations  110,048  
Total current assets604,054  701,787  
Property, plant and equipment, net287,629  287,845  
Goodwill861,067  875,881  
Trademarks and other intangible assets, net355,714  380,286  
Investments and joint ventures18,103  18,890  
Operating lease right-of-use assets81,959  —  
Other assets27,611  58,764  
Noncurrent assets of discontinued operations  259,167  
Total assets$2,236,137  $2,582,620  
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable$181,783  $219,957  
Accrued expenses and other current liabilities118,405  114,265  
Current portion of long-term debt2,041  17,232  
Current liabilities of discontinued operations  31,703  
Total current liabilities302,229  383,157  
Long-term debt, less current portion363,526  613,537  
Deferred income taxes40,136  34,757  
Operating lease liabilities, noncurrent portion74,937  —  
Other noncurrent liabilities16,261  14,489  
Noncurrent liabilities of discontinued operations  17,361  
Total liabilities797,089  1,063,301  
Commitments and contingencies (Note 16)
Stockholders’ equity:
Preferred stock - $.01 par value, authorized 5,000 shares; issued and outstanding: none
    
Common stock - $.01 par value, authorized 150,000 shares; issued: 109,089 and 108,833 shares, respectively; outstanding:101,972 and 104,219 shares, respectively
1,092  1,088  
Additional paid-in capital1,168,378  1,158,257  
Retained earnings610,932  695,017  
Accumulated other comprehensive loss(172,403) (225,004) 
1,607,999  1,629,358  
Less: Treasury stock, at cost, 7,117 and 4,614 shares, respectively
(168,951) (110,039) 
Total stockholders’ equity1,439,048  1,519,319  
Total liabilities and stockholders’ equity$2,236,137  $2,582,620  
See notes to consolidated financial statements.
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THE HAIN CELESTIAL GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
FOR THE THREE AND NINE MONTHS ENDED MARCH 31, 2020 AND 2019
(In thousands, except per share amounts) 
 Three Months Ended March 31,Nine Months Ended March 31,
 2020201920202019
Net sales$553,297  $547,257  $1,542,157  $1,599,301  
Cost of sales420,902  434,049  1,206,324  1,295,834  
Gross profit132,395  113,208  335,833  303,467  
Selling, general and administrative expenses85,447  81,088  245,205  235,561  
Amortization of acquired intangibles3,174  3,265  9,446  9,946  
Productivity and transformation costs
11,514  9,408  37,949  29,613  
Chief Executive Officer Succession Plan expense, net
  455    30,156  
Proceeds from insurance claim
(400)   (2,962)   
Accounting review and remediation costs, net of insurance proceeds      4,334  
Long-lived asset and intangibles impairment13,525    15,414  23,709  
Operating income (loss)19,135  18,992  30,781  (29,852) 
Interest and other financing expense, net4,037  5,994  15,068  15,736  
Other (income) expense, net(260) 1,067  2,312  2,038  
Income (loss) from continuing operations before income taxes and equity in net loss of equity-method investees15,358  11,931  13,401  (47,626) 
(Benefit) provision for income taxes(10,242) 2,943  (9,753) (1,926) 
Equity in net loss of equity-method investees564  205  1,219  391  
Net income (loss) from continuing operations$25,036  $8,783  $21,935  $(46,091) 
Net loss from discontinued operations, net of tax(697) (74,620) (105,581) (123,672) 
Net income (loss)$24,339  $(65,837) $(83,646) $(169,763) 
Net income (loss) per common share(1):
Basic net income (loss) per common share from continuing operations$0.24  $0.08  $0.21  $(0.44) 
Basic net loss per common share from discontinued operations(0.01) (0.72) (1.01) (1.19) 
Basic net income (loss) per common share$0.23  $(0.63) $(0.80) $(1.63) 
Diluted net income (loss) per common share from continuing operations$0.24  $0.08  $0.21  $(0.44) 
Diluted net loss per common share from discontinued operations(0.01) (0.72) (1.01) (1.19) 
Diluted net income (loss) per common share $0.23  $(0.63) $(0.80) $(1.63) 
Shares used in the calculation of net income (loss) per common share:
Basic104,032  104,117  104,192  104,045  
Diluted104,337  104,334  104,489  104,045  
(1) Net income (loss) per common share may not add in certain periods due to rounding.
See notes to consolidated financial statements.
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Table of Contents
THE HAIN CELESTIAL GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED)
FOR THE THREE AND NINE MONTHS ENDED MARCH 31, 2020 AND 2019
(In thousands)
 Three Months Ended
March 31, 2020March 31, 2019
 
Pre-tax
amount
Tax (expense) benefitAfter-tax amount
Pre-tax
amount
Tax (expense) benefitAfter-tax amount
Net income (loss)$24,339  $(65,837) 
Other comprehensive (loss) income:
Foreign currency translation adjustments before reclassifications$(52,315) $  (52,315) $20,934  $  20,934  
Change in deferred gains (losses) on cash flow hedging instruments134  (25) 109  (52) 10  (42) 
Total other comprehensive (loss) income
$(52,181) $(25) $(52,206) $20,882  $10  $20,892  
Total comprehensive loss$(27,867) $(44,945) 
 Nine Months Ended
March 31, 2020March 31, 2019
 Pre-tax
amount
Tax (expense) benefitAfter-tax amountPre-tax
amount
Tax (expense) benefitAfter-tax amount
Net loss$(83,646) $(169,763) 
Other comprehensive income (loss):
Foreign currency translation adjustments before reclassifications$(42,602) $  (42,602) $(20,533) $  (20,533) 
Reclassification of currency translation adjustment included in Net loss from discontinued operations, net of tax95,120    95,120        
Change in deferred gains (losses) on cash flow hedging instruments108  (25) 83  (52) 10  (42) 
Total other comprehensive income (loss)
$52,626  $(25) $52,601  $(20,585) $10  $(20,575) 
Total comprehensive loss$(31,045) $(190,338) 
See notes to consolidated financial statements.
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Table of Contents
THE HAIN CELESTIAL GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY (UNAUDITED)
FOR THE THREE AND NINE MONTHS ENDED MARCH 31, 2020
(In thousands, except par values)

 Common StockAdditional   
Accumulated
Other
 
  AmountPaid-inRetainedTreasury StockComprehensive 
 Shares
at $.01
CapitalEarningsSharesAmount(Loss) Income Total
Balance at June 30, 2019  108,833  $1,088  $1,158,257  $695,017  4,614  $(110,039) $(225,004) $1,519,319  
Net loss(107,021) (107,021) 
Cumulative effect of adoption of ASU 2016-02(439) (439) 
Other comprehensive income56,110  56,110  
Issuance of common stock pursuant to stock-based compensation plans
40  1  (1)   
Shares withheld for payment of employee payroll taxes due on shares issued under stock-based compensation plans
17  (312) (312) 
Stock-based compensation expense3,281  3,281  
Balance at September 30, 2019108,873  $1,089  $1,161,537  $587,557  4,631  $(110,351) $(168,894) $1,470,938  
Net loss (964) (964) 
Other comprehensive income 48,697  48,697  
Issuance of common stock pursuant to stock-based compensation plans
146  2  (2)   
Shares withheld for payment of employee payroll taxes due on shares issued under stock-based compensation plans
27  (671) (671) 
Stock-based compensation expense3,083  3,083  
Balance at December 31, 2019109,019  $1,091  $1,164,618  $586,593  4,658  $(111,022) $(120,197) $1,521,083  
Net income24,339  24,339  
Cumulative effect of adoption of ASU 2016-02    
Other comprehensive loss(52,206) (52,206) 
Issuance of common stock pursuant to stock-based compensation plans
70  1  (1)   
Shares withheld for payment of employee payroll taxes due on shares issued under stock-based compensation plans
20  (523) (523) 
Repurchases of common stock2,439  (57,406) 
Stock-based compensation expense3,761  3,761  
Balance at March 31, 2020109,089  $1,092  $1,168,378  $610,932  7,117  $(168,951) $(172,403) $1,439,048  

See notes to consolidated financial statements.





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Table of Contents
THE HAIN CELESTIAL GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY (UNAUDITED)
FOR THE THREE AND NINE MONTHS ENDED MARCH 31, 2019
(In thousands, except par values)

 Common StockAdditional   
Accumulated
Other
 
  AmountPaid-inRetainedTreasury StockComprehensive 
 Shares
at $.01
CapitalEarningsSharesAmount(Loss) Income Total
Balance at June 30, 2018  108,422  $1,084  $1,148,196  $878,516  4,470  $(106,507) $(184,240) $1,737,049  
Net loss(37,425) (37,425) 
Cumulative effect of adoption of ASU 2016-01(348) 348    
Cumulative effect of adoption of ASU 2014-09163  163  
Other comprehensive loss
(13,519) (13,519) 
Issuance of common stock pursuant to stock-based compensation plans
85  1  (1)   
Shares withheld for payment of employee payroll taxes due on shares issued under stock-based compensation plans
35  (979) (979) 
Stock-based compensation expense135  135  
Balance at September 30, 2018108,507  $1,085  $