Prestige Consumer Healthcare Inc. · NYSE:PBH
Prestige Consumer Healthcare — Q1 2023 Earnings Presentation
17 slides from Prestige Consumer Healthcare's earnings presentation, Aug 4, 2022
Slide 1: First Quarter FY 2023 Results
First Quarter FY 2023 Results August 4th, 2022
Slide 2: Safe Harbor Disclosure
Safe Harbor Disclosure This presentation contains certain “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements regarding the Company’s expected financial performance, including revenues, diluted EPS, EBITDA, free cash flow, and o
Slide 3: Agenda for Today's Discussion
Agenda for Today’s Discussion I. Performance Update II. Financial Overview III. FY 23 Outlook FIRST QUARTER FY 23 RESULTS 3
Slide 4: I. Performance Update
I. Performance Update FIRST QUARTER FY 23 RESULTS
Slide 5: Business Momentum Continued in First Quarter FY 23
Business Momentum Continued in First Quarter FY 23 ◼ Solid quarterly Revenue of $277.1 million, up 2.9% vs. PY Q1 FY 23 Sales ◼ Consistent consumer behavior as they continue to seek trusted brands Drivers ◼ Strong growth led by international portfolio ◼ Gross Margin as expected in dynamic supply cha
Slide 6: Continued Momentum Building on Hydralyte's History of Success
Continued Momentum Building on Hydralyte’s History of Success Q1 Sales Growth Hydralyte Turns 20! In-Store Online +2.4x Omnichannel Campaign Celebrating 20 Years of Hydralyte Household Penetration of 8.9%*, with Branded POS Driving Future Share Growth FY 20 FY 23 *TTM as of 05/22/22 FIRST QUARTER FY
Slide 7: New Product Development: An Important Brand-Building Pillar
New Product Development: An Important Brand-Building Pillar Product Extensions that Grow Share & Market Opportunity Summer’s Eve Spa Clear Eyes Allergy Provide Consumers with Superior Experience Proven Omnichannel Marketing Strategy Drives Awareness & Long-Term Success Expanded Offerings Across Port
Slide 8: II. Financial Overview
II. Financial Overview FIRST QUARTER FY 23 RESULTS
Slide 9: Q1 FY 23 Performance Highlights
Q1 FY 23 Performance Highlights 2.9% Revenue of $277.1 million, up 2.9% vs. PY $277.1 $269.2 (4.5%) $94.6 $99.0 EBITDA(2) of $94.6 million, down 4.5% vs. PY (4.4%) $1.09 $1.14 Revenue EBITDA (2) Diluted EPS Diluted EPS of $1.09, down 4.4% vs. PY Q1 FY 23 Q1 FY 22 Dollar values in millions, except pe
Slide 10: FY 23 First Quarter Consolidated Financial Summary
FY 23 First Quarter Consolidated Financial Summary 3 Months Ended Comments Q1 FY 23 Q1 FY 22 % Chg ◼ Organic Revenue(1) down slightly vs. PY Total Revenue $ 277.1 $ 269.2 2.9% ◼ Gross Margin of 57.8%, as expected due to timing Gross Profit 160.1 159.0 0.7% % Gross Margin 57.8% 59.1% — Anticipate ~56
Slide 11: Industry Leading Free Cash Flow Trends
Industry Leading Free Cash Flow Trends Free Cash Flow Comments Q1 FY 23 Q1 FY 22 ◼ Q1 Free Cash Flow(2) of $57.2 million down vs. PY, (15.6%) affected by timing – Maintaining full-year outlook $67.8 ◼ Net Debt at June 30 of $1.5 billion(2); leverage $57.2 ratio(3) of 3.8x at end of Q1 – Executed $38
Slide 12: III. FY 23 Outlook
III. FY 23 Outlook FIRST QUARTER FY 23 RESULTS
Slide 13: Outlook: Staying the Strategic Course to Create Value
Outlook: Staying the Strategic Course to Create Value ◼ Strategy delivering with growing and well-positioned business ◼ Agile brand-building enables portfolio for further market share gains Top Line Trends ◼ Revenue outlook of $1,120 Million to $1,130 Million (~3% to 4% growth) — Organic growth of 2
Slide 14: Q&A
Q&A FIRST QUARTER FY 23 RESULTS
Slide 15: Appendix
Appendix (1) Organic Revenue is a Non-GAAP financial measure and is reconciled to the most closely related GAAP financial measure in the attached Reconciliation Schedules and / or our earnings release dated August 4, 2022 in the “About Non-GAAP Financial Measures” section. (2) EBITDA & EBITDA Margin
Slide 16: Reconciliation Schedules
Reconciliation Schedules Organic Revenue Change Three Months Ended June 30, 2022 2021 (In Thousands) GAAP Total Revenues $ 277,059 $ 269,181 Revenue Change 2.9% Adjustments: Revenues associated with acquisition(a) (12,624) - Impact of foreign currency exchange rates - (1,563) Total adjustments $ (12
Slide 17: Reconciliation Schedules (Continued)
Reconciliation Schedules (Continued) Free Cash Flow Three Months Ended June 30, 2022 2021 (In Thousands) GAAP Net Income $ 55,272 $ 57,755 Adjustments: Adjustments to reconcile net income to net cash provided by operating activities as shown in the Statement of Cash Flows 16,234 17,824 Changes in op
Prestige Consumer Healthcare — Q1 2023 Earnings Presentation on 6ix