Hain Pure Protein net sales up 2 percent

Net sales of Hain Celestial’s Hain Pure Protein segment increased 2 percent during the first quarter of Hain Celestial’s 2018 fiscal year.

Roy Graber Headshot
(Hain Celestial)
(Hain Celestial)

Net sales of Hain Celestial’s Hain Pure Protein segment increased 2 percent during the first quarter of Hain Celestial’s 2018 fiscal year.

The company on November 7 reported the financial results of the first quarter, which ended September 30.

Hain Pure Protein recorded $119.1 million for the quarter, a 2 percent increase on a year-over-year basis. Sales of the company’s FreeBird and Plainville Farms brands increased by about 6 percent, while Empire Kosher sales declined 6 percent.

However, during a conference call with shareholders, Hain Celestial President and CEO Irwin Simon said a key reason for the year-over-year drop in Empire Kosher sales was because the timing of Jewish holidays was different during the two years, therefore having the impact in different quarters.

Challenges in turkey market

Simon reported that sales of Plainville Farms turkey products was disappointing, due to overall lower turkey pricing and a company decision “in a reduction of conventional turkeys.” However, Simon said many of those challenges are behind Hain Celestial as it readies for healthy sales of turkey during the Thanksgiving and Christmas holidays.

Simon estimated that the company would deliver between 1.5 and 1.8 million turkeys.

Hain Celestial net income, net sales increase

The increase in Hain Pure Protein poultry product sales during the quarter contributed to a solid quarter overall for Hain Celestial, which saw net sales increase 4 percent to $708.3 million.

It reported a 131 percent increase in net income when compared to the first quarter of fiscal year 2017. During the most recent quarter, Hain Celestial’s net income was $19.8 million.

“Our first quarter results were solid with improved net sales growth and profitability, meeting our expectations across our business segments,” Simon said.

A diversified organic and natural products company, Hain Celestial has operations in North America, Europe, Asia and the Middle East.

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