be on journey year. been clarity, CEO, you least, anniversary credibility I and with with say of early to one, week, I days, this everyone. cash we’ve our about to on, I’ve one-year been of four, Katie, met for promised simplifying brands. the was Shortly portfolio it’s reinvigorating Hain. been my and on, I of a surprisingly, you, Thank and core confidence morning, I hired incredible core you growth passed Earlier good And top some two, after an the then not help reflecting the which a the line strategy in strengthen and in high pillars: XX and expanding Hain. our your consistency organization; complete key margins flow; laid and to consisted After set three, transformation, potential out profitable capabilities; four I strengthening
five Examples strategy, undertaken to distribution to just over consolidating in we’ve SKUs that in forces and simplifying U.S. eliminating from far, our from sales our the and one points model, over consolidating includes thus with sales to handful, progress, divesting articulating changes of almost less to XX brands than worldwide. company business five America from XX almost the Since $XXX team. million, portfolio, XX% nonstrategic significant of numerous culture North and of and our our our our a brokers by
it. On innovation we’ve hired building and reorganized and standardized accountabilities business brought tied and on key project a like and cross-functional to senior into We new teams, clear management. We’ve Board new forecasting, created processes capability, rewards members. team we’ve several
XXXX. our last we’ve On thereby service, cash improved built and fines, investments August improving over uneconomic since of new and reducing a eliminated in million we’ve penalties plant peak significantly inventory customer California. since January. margins discards, flow, We in million $XX $XX by and over personal-care of We reduced
ahead accomplished partnerships as with growth. for pricing transformation annual plans customer strategic potential set we’re operating max and continuous brands, business Lastly, short, much going the our significant we’re In through build have deal a assortment driving pipeline, multiyear, creating consumer-validated margin growth through more creating mix reassessing through program, we model. in of model a and our accretive, innovation going high optimizing on a core a great the a and
and XX% showing We’ve this hundred already grew two North first margins most report basis that growth quarter, started where the is points. And proud and years. expanded EBITDA issues year-over-year last I’m in to results. have in were in progress the America, several strategy, executing EBITDA Our opportunities our margins gross evident, our very
minute, trust More wanted better Celestial. their their thank on and the to our not to their work to results confidence for resilience, in but customers for and hard as team we for work continuing investors partners business preferred in a become our Hain but continued I pause and and us our just support
net would we sales half and XXXX, told in first spending uneconomic one, as pleased we metrics first F F half down in to what I’m to rationalized to out quarter financials, we call expect, to back and we all the the regard QX. go gave continue plan, report on in quarter experienced presentation QX some second Barclays, similar XXXX on of earnings that XXXX, With SKUs. the to delivered at be direction subsequent our I’ll to and and key we guidance you fiscal our pull the of first
In our second line was and the currency, half delivered down which with expectations in in we’ve ago. first year top line constant X% quarter, X%, down
Second, versus we at also despite up margin gross were X.X%, gave Adjusted margin expanded finishing versus In XXXX. year adjusted we the currency. in basis an dollars deliver and decline XX.X%. ago, F of also gross adjusted in each delivered dollars which quarter was constant would points gross increase gross QX, XXX guidance X.X% top that margin line, we adjusted
XX.X% that global our EBITDA the yielding EBITDA basis margin to each we year-on-year would XXXX. X.X%, fiscal EBITDA second to margin gave with adjusted in only across increase new that EBITDA quarter, to constant quarter in grow reaffirming and adjusted up strong is is margin increased versus the financial first operations. I’m adjusted XXX currency. the quarterly in results. year two and strategy dollars were pleased points This last to last report dollars In years, that QX improvements performance solid improving, guidance compared EBITDA as is our Third,
told pleased to accomplished we I’m minutes. XXXX. we versus on that And James objective the improve well. more detail as also few in report lastly, provide and call, a materially you flow that earnings fiscal the will would that Fourth cash
our progress summary, results and objectives during in against on our quarter track back laid continuing remain to first strategy and Investor that achieve financial Day and we we February. showed operational commitment, out fiscal XXXX our In
Now to on more color little provide business. a with segments, the reporting start America individual North our me let
program Our to and conscious net year unprofitable. million sales quarters line a a that includes was This from $XX declined not with previous we the X.X%, in as customer decision ago projected. overlap
in would trend even and business, Excluding one spending. sales line have that been in net with uneconomic the X.X%, improvement ongoing SKU some rationalization reduction top program, demonstrating down the
XXX ending Adjusted North to EBITDA points quarter exceptional and points XX%. basis America at XX.X% up XXX gross adjusted its year dollars were EBITDA year-over-year improvement, up improvedXX.X%. an margin basis had improved Adjusted than a of X.X%, QX consecutive gross also dollars second profit margin for ago.
improve to opportunities multiple margin overall to in there believe and We are profitability continue America. our North structure
We working areas have enhanced stated future the objectives drive with resources delivering right our and our a strong team results in growth. to in place, against
Our financial in progress confidence every has improved growing significantly, and day. is our our transformation
down down customer an as Get from the X.X% trends further, QX narrowed And on X.X% million overlapping delivered to in sales unprofitable brands not the America improved we includes Breaking down QX. that decline $XX on program Bigger in the personal North portfolio care.
the on one brands Get quarter. would Bigger for the been Excluding up that sales have decisions, proactive
to the non-promoted Bigger in declined incremental as measured was what dollars we uneconomic spending. and we consumption Similar Get double on grew quarter, brands dollars last digits flat reported reduce channels,
continued grow we underperforming in this quarter. eliminated velocities ACV As assortment, to SKUs and improved
which carried, down item was quarter is average X% Importantly, only the XX% almost was down this quarter. last
our is that a stabilizing. distribution that’s good indication So
On basis dollars our points year up points improved are and EBITDA margin Better which were gross XXX%. the ago being XXX managed for our from brands, and EBITDA improved Get XXX profit, margins basis
strategy line, strong are portfolio on Get segmenting brands So working. is of and our Better deliver Get Bigger The are while again, fueling the top growth. continuing strengthening the margins profitable the brands to
summary, for creating very our future from increase deliver with an North In gross while ability and margin last progress on adjusted year, pleased EBITDA a our and much QX growth. in to expansion stronger foundation I’m in America
let business. to our international Now shift me
we As our currency level results. complexity in we would QX add fluctuations, British a knew communicated primarily pound quarter, last of the to
due a SKUs an flat business to trade line planned and results up increased quarter investment EBITDA our in to top down the constant be currency unprofitable expectations. the to very on also international With in basis. with expected We elimination to of and mind, were be that consistent
X.X% down in constant quarter, were sales X.X% Net currency. down equates to in the which
solid have line to customer Forex growth was our This $XX more continue Between quarters. will segmented the are headwind. uneconomic management reductions, million we saw a but a a and the represented that and of evident few we in brands inventory international number in aggressively quarter, spending. and soup down top brands. businesses and particularly UK U.S., is the aggressive fruit reducing an across for margin Similar
the portfolio, was the QX grew are growth growth. our in very dollars mix. X.X%, We trade where Adjusted of investment slightly product year, were our up strength than have gross strong share are with of them by we Number Number XX.X% our beverages and showing double-digit Many both XX, protein, X exhibiting brands. X plant-based plant-based Adjusted encouraged margin more from quarter, primarily EBITDA XX down margin points. and of was plan. down last basis X.X% XX was EBITDA constant but basis currency. ahead in points This driven increased by
and that team drive surrounding in environment what our Brexit, the our December It’s and uncertainty brands strength team given testament the success. did of job our on all, prepared these an to the you the and in happens assure regardless the Europe a navigating the can delivering All ready challenges in of UK XX to business UK, exceptional in and solid performance. continued and is I leaders, difficult
the give our performance. progress that the strategy, Investor with and details are you I company execute superior on a to brands impeding organization. against some our want for first we We also and complexity simplifying indicated had our too on ability many deliver Day making the to size we
two end, that the SunSpire well previously Mills Arrowhead divestiture To brands, October. communicated quarter, as Tilda in completed as other and in the of we
we’re brands a we two getting same and great example sold million. smaller of negative the these time. organization $XX That’s two EBITDA revenue P&L, these and Given while had margins, improving that declining for at our pleased the simplifying
and businesses Tilda, FreeBird our Kosher we’ve This portfolio, simplify seven the communicated Mills. includes of strategy we Plainville, Arrowhead to since with February total, in Protein SunSpire completed brand In WestSoy, Hain along and Empire Pure consisting divestitures.
done tremendous team’s area. this job a Our in
that should to core otherwise, see continue divestitures the and pursue margin to opportunities, our strategic We brands expect of within in future portfolio. [indiscernible] a you on or fit are profitable less more less
Now more outlook, which provide briefly turn me let detail fiscal will on. James to XXXX
we that, told we EBITDA margin economic North XXXX top focus and would adjusted margin shrink from before and you, Investor productivity. Along as As you’ll with America on Day, expansion gross to growing fiscal recall expected we further in deliver would continue line to again. continue growth
we’re Today, results. reiterating our for these expectations
adjusted XXXX line and on intentionally of build to impact adjusted a year trends on Specifically, with versus the margin manage and baseline better acceleration net top the volume, and in top to profitable profit quarters year, first remaining for margin Get year we which the brands line throughout fiscal of decline second expect and the the mix and of effectively EBITDA than next reestablish from and stable gross grow fiscal momentum and margins. ago fiscal Bigger price dollars half grow, half each dollars and
continue of nicely. the early is on business transformation results our summary, In still in and strategy, signs track while stages, our demonstrate progressing to
with achieve to and much clear growth. together working long-term focused and our is commitments on greater profitable discipline productivity culture team very strategy around financial entire a a Our
And years. that long Before leaving year performance our after weeks. making of the a many balance transition ingredients to finance will at history The further I will on Dole our industry, in Boston James key we our coming new Hain Hershey, that. QX to Consulting CFO wanted strategic shortly a outlook, I’m financial Idrovo, us leading over past for to search the including long several be candidates, our color successful foods before the be to qualified more in CFO, Hershey will I be a process, the with Group and turn will share acumen excited be and and consumer team call his to James add from and transformation. After announce Company. joining Javier has Javier support
States. several many been in and the building years. the I James his over past hard United our and his Hain speak I for He’s tenacity, and foundation want for successful the say my I of in to I thank he be on-boarding appreciate instrumental the for will of all turnaround missed. when contributions work
QX our to over James, me detail and financials more it provide With who turn that, will fiscal let on guidance. XXXX
