Shares of Hain Celestial (NASDAQ:HAIN) nosedived today after it reported earnings for its third quarter of Fiscal Year 2023. Adjusted earnings per share came in at $0.08, which missed analysts’ consensus estimate of $0.16 per share. Sales increased by 3.6% year-over-year, with revenue hitting $455.2 million. This was $30 million below expectations.
Looking forward, management now expects revenue and EBITDA for Fiscal Year 2023 to decline between -4% to -3% and -15% to -13%, respectively, on a year-over-year basis.
A look at the past five trading days for HAIN stock highlights the level of impact today’s news had on it. Indeed, shares fell over 12% at the time of writing. As a result, investors are now down 10.53% during this timeframe.
