NEW YORK ( TheStreet) -- Hain Celestial's (HAIN) shares were surging, up 10.3% to $95.85 by midday Wednesday, as Wall Street cheered the organic and natural food company's better-than-expected guidance for next year, despite concerns over the acquisitive company's organic growth potential.
"Our growth is not just coming from acquisitions, it's coming from existing brands and we'll continue to do that," Chairman and CEO Irwin Simon said on Hain Celestial's earnings call earlier Wednesday.
Hain Celestial, based in Lake Success, N.Y. said Wednesday it expects annual EPS between $3.72 and $3.90 a share for fiscal 2015. Net sales were forecasted to range between $2.725 billion and $2.8 billion. Consensus estimates as tallied by Thomson Reuters had called for fiscal 2015 EPS of $3.73 on revenue of $2.51 billion.
Read More: 7 Stocks Jim Cramer Sees Ripe for Takeover
For its fiscal fourth quarter, Hain Celestial reported adjusted earnings of 90 cents a share from continuing operations. Net income for the three months ending June 30 was $35.7 million, or 70 cents a share, compared to $25.9 million, or 53 cents a share in last year's quarter. Net sales rose 26% over the year earlier quarter to $584 million.
Read More: Jim Cramer's Mad Dash: Hain Celestial Group Still Has Growth --Written by Laurie Kulikowski in New York. Follow @LKulikowski
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV