The Hain Celestial Group reported Q3 FY2024 (calendar Q3) revenue of $438.36 million, down 3.7% YoY, with organic net sales also down 3.7% as FX provided a modest 1.3 percentage point tailwind. The quarter featured meaningful margin expansion and cash flow generation despite topline weakness, underscoring progress on the company’s Hain Reimagined program—specifically the Focus and Fuel pillars aimed at portfolio simplification, footprint consolidation, and end-to-end operating model improvements. Adjusted EBITDA rose 17.5% YoY to $44.0 million (margin 10.0%), while GAAP net income declined to a net loss of $48.2 million (EPS -0.54) due to restructuring charges and ongoing deleverage from lower volumes. Management characterized the pivot to growth as taking longer than anticipated, citing Perrigo’s infant formula supply disruption and challenges in snacks distribution as primary near-term headwinds. The company reaffirmed a multi-year growth algorithm with an emphasis on margin expansion, working capital optimization, and selective brand/channel investments, while guiding for FY2024 organic net sales to decline ~3% to 4%, adjusted EBITDA of $150–$155 million, gross margin expansion up to 50 bps, and free cash flow of $40–$45 million. The narrative centers on converting stabilized performance into durable growth through portfolio rationalization (including a 6% SKU reduction, with a heavier emphasis in Personal Care), footprint consolidation (one remaining personal care manufacturing facility, India JV exit), and the development of a true integrated operating model. Investors should monitor stabilization progress in formula, continued margin/mix improvements in snacks and beverages, capital structure evolution toward the target leverage of 3x Adjusted EBITDA, and the pace of channel expansion in margin-accretive outlets and e-commerce.