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