Hain Celestial Unlocks Fuel For Growth Through Productivity and Sourcing, Cash Management and Operational Efficiencies

Rhea-AI Summary

The Hain Celestial Group (Nasdaq: HAIN) is making significant progress on its Hain Reimagined multi-year growth strategy, particularly in the Fuel pillar. The company is on track to deliver over $60 million in cost savings by the end of fiscal year 2024 through strategic initiatives focused on productivity, sourcing, cash management, and operational efficiencies.

Introduced in September 2023, Hain Reimagined aims to transform the company into a globally integrated enterprise to drive scale and long-term shareholder value. The Fuel pillar is important for funding this transformation, encompassing revenue growth management, cash management, and operational efficiencies.

Steve Golliher, Hain's Global Chief Supply Chain Officer, has shared insights on how working capital management, operational efficiencies, and best-in-class safety standards are positioning the company for future success in a recent post on The Hain Way corporate blog.

Positive

• On track to deliver over $60 million in cost savings in FY2024
• Progress in implementing Hain Reimagined multi-year growth strategy
• Improvements in sourcing and productivity programs generating operating cash flow
• Margin expansion while supporting investments in critical capabilities

Negative

• None.

News Market Reaction – HAIN

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+2.41% News Effect

On the day this news was published, HAIN gained 2.41%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Company on Track to Deliver >$60 Million Cost Savings in FY2024
Advancing Hain Reimagined Multi-Year Growth Strategy

HOBOKEN, N.J., Aug. 21, 2024 /PRNewswire/ -- The Hain Celestial Group, Inc. (Nasdaq: HAIN), a leading global health and wellness company whose purpose is to inspire healthier living through better-for-you brands, has taken strategic actions to progress the Fuel pillar of its Hain Reimagined multi-year business strategy.

Introduced in September 2023, Hain Reimagined outlined comprehensive plans to transform the company into a globally integrated enterprise to drive scale and deliver long-term shareholder value. A key aspect of the strategy is unlocking fuel for growth, which is comprised of revenue growth management, cash management and operational efficiencies to fund the transformation.

As stated in Hain's Q3 FY2024 earnings, fuel initiatives, specifically sourcing and productivity programs, have generated operating cash flow to drive margin expansion while supporting investments in critical capabilities to strengthen the business. The company is on track to deliver more than $60M in cost savings by fiscal year-end.

Hain's Global Chief Supply Chain Officer, Steve Golliher, shares the inside story about how working capital management, operational efficiencies and best-in-class safety standards are setting the company up for future success in this latest post on The Hain Way corporate blog.

About The Hain Celestial Group
Hain Celestial Group is a leading health and wellness company whose purpose is to inspire healthier living for people, communities and the planet through better-for-you brands. For more than 30 years, Hain has intentionally focused on delivering nutrition and well-being that positively impacts today and tomorrow. Headquartered in Hoboken, N.J., Hain Celestial's products across snacks, baby/kids, beverages, meal preparation, and personal care, are marketed and sold in over 70 countries around the world. Our leading brands include Garden Veggie Snacks™, Terra^® chips, Garden of Eatin'^® snacks, Hartley's^® Jelly, Earth's Best^® and Ella's Kitchen^® baby and kids foods, Celestial Seasonings^® teas, Joya^® and Natumi^® plant-based beverages, Greek Gods^® yogurt, Cully & Sully^®, Yorkshire Provender^®, New Covent Garden^® and Imagine^® soups, Yves^® and Linda McCartney's^® (under license) meat-free, and Avalon Organics^® personal care, among others. For more information, visit www.hain.com and LinkedIn.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties and assumptions. If the risks or uncertainties ever materialize or the assumptions prove incorrect, our results may differ materially from those expressed or implied by such forward-looking statements. The words "believe," "expect," "anticipate," "may," "should," "plan," "intend," "potential," "will" and similar expressions are intended to identify such forward-looking statements. Forward-looking statements include, among other things, our beliefs or expectations relating to our future performance, results of operations and financial condition; our strategic initiatives; and our business strategy.

The risks and uncertainties that may cause actual results to differ materially from forward-looking statements are described in our most recent Annual Report on Form 10-K and our other filings from time to time with the U.S. Securities and Exchange Commission.

We undertake no obligation to update forward-looking statements to reflect actual results or changes in assumptions or circumstances, except as required by applicable law.

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SOURCE The Hain Celestial Group

FAQ

What is Hain Celestial's cost savings target for FY2024?

Hain Celestial is on track to deliver more than $60 million in cost savings by the end of fiscal year 2024.

When was the Hain Reimagined strategy introduced?

The Hain Reimagined multi-year business strategy was introduced in September 2023.

What is the main goal of Hain Celestial's Fuel pillar?

The Fuel pillar aims to unlock fuel for growth through revenue growth management, cash management, and operational efficiencies to fund the company's transformation.

Who shared insights about Hain Celestial's supply chain improvements?

Steve Golliher, Hain's Global Chief Supply Chain Officer, shared insights about the company's working capital management, operational efficiencies, and safety standards in a post on The Hain Way corporate blog.