Prestige Consumer Healthcare Inc. · NYSE:PBH
Prestige Consumer Healthcare — Q2 FY2022 Earnings Presentation
22 slides from Prestige Consumer Healthcare's earnings presentation, Nov 4, 2021
Slide 1: Second Quarter FY 2022 Results
P C H C O N F I D E N T I A L A N D P R O P R I E T A R Y I N F O R M A T I O N N o v e m b e r 4 t h , 2 0 2 1 Second Quarter FY 2022 Results Exhibit 99.2
Slide 2: Safe Harbor Disclosure
S E C O N D Q U A R T E R F Y 2 2 R E S U L T S 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, adjusted EPS, fre
Slide 3: Agenda for Today's Discussion
S E C O N D Q U A R T E R F Y 2 2 R E S U L T S Agenda for Today’s Discussion 3 I. Performance Update II. Financial Overview III. FY 22 Outlook
Slide 4: I. Performance Update
S E C O N D Q U A R T E R F Y 2 2 R E S U L T S I. Performance Update
Slide 5: Strong Q2 Results & Well Positioned for FY22
S E C O N D Q U A R T E R F Y 2 2 R E S U L T S Strong Q2 Results & Well Positioned for FY 22 ◼ Record revenue in Q2, up 16.3% vs. PY ◼ Strong consumption growth and market share(2) gains across the portfolio ◼ Continued strength in consumer behavior and retailer ordering patterns ◼ Strong double-di
Slide 6: Well-Positioned in Dynamic Macro Environment
S E C O N D Q U A R T E R F Y 2 2 R E S U L T S Well-Positioned in Dynamic Macro Environment 6 Normalizing Consumer Behavior Inflationary Environment Impacted Brands Strained Supply Chain Macro Trend Implication Recovery Across Channels & Categories (Cough/Cold, Travel, Convenience) Consumers & Reta
Slide 7: Continuing to Capture Share by Executing on Core Strategy
S E C O N D Q U A R T E R F Y 2 2 R E S U L T S Continuing to Capture Share by Executing on Core Strategy 7 GI Eye Care Category YTD Share(2) vs. PY Nimble Brand-Building Playbook Proven Innovation Strategy Broad Retail Distribution Focus Engaging Print & Digital Marketing Skin Care
Slide 8: Winning With Consumers Online & Across Digital Landscape
S E C O N D Q U A R T E R F Y 2 2 R E S U L T S Winning With Consumers Online & Across Digital Landscape Engaging Digital Campaigns eCommerce as a % Retail Sales 8 Increased Investment in Online User Experience Treatment Finder Q2 eCommerce Retail Sales(2) FY20 FY21 FY22 +122% +20% Strong Growth Acr
Slide 9: II. Financial Overview
S E C O N D Q U A R T E R F Y 2 2 R E S U L T S II. Financial Overview
Slide 10: Key Financial Results for Second Quarter and 1H FY 22
S E C O N D Q U A R T E R F Y 2 2 R E S U L T S Key Financial Results for Second Quarter and 1H FY 22 Performance FY 22 FY 21 Dollar values in millions, except per share data. $276.2 $92.7 $1.02 $237.4 $80.7 $0.78 Revenue Adjusted EBITDA Adjusted EPS 16.3% 14.9% 30.8% 10 (3) Q 2 $545.4 $191.8 $2.16
Slide 11: FY 22 Second Quarter and 1H Consolidated Financial Summary
S E C O N D Q U A R T E R F Y 2 2 R E S U L T S Q2 FY 22 Q2 FY 21 % Chg 1H FY 22 1H FY 21 % Chg Total Revenue 276.2$ 237.4$ 16.3% 545.4$ 466.8$ 16.8% Adj. Gross Margin (3) 159.3 137.7 15.7% 318.3 271.5 17.2% % Margin 57.7% 58.0% 58.4% 58.2% A&M 40.7 38.3 6.2% 80.2 66.1 21.3% % Total Revenue 14.7% 16
Slide 12: Industry Leading Free Cash Flow Trends
S E C O N D Q U A R T E R F Y 2 2 R E S U L T S $61.9 $129.7 $43.1 $115.7 Adj. Free Cash Flow Adj. Free Cash Flow Free Cash Flow(3) Comments ◼ Total 1H FY 22 Free Cash Flow(3) of $129.7 million up 12.1% vs. PY – Q2 Free Cash Flow(3) up 43.7% due to strong operating performance and lower Capex ◼ Net
Slide 13: III. FY Outlook
S E C O N D Q U A R T E R F Y 2 2 R E S U L T S III. FY 22 Outlook
Slide 14: Outlook: Raising FY Expectations
S E C O N D Q U A R T E R F Y 2 2 R E S U L T S Outlook: Raising FY 22 Expectations ◼ Continued rebound in certain COVID-impacted categories ◼ Remain well-positioned for dynamic second half environment ◼ Share gains enabled by long-term brand-building strategy ◼ FY 22 Revenue of $1.05 – $1.06 billio
Slide 15: Q&A
S E C O N D Q U A R T E R F Y 2 2 R E S U L T S Q&A
Slide 16: Appendix
S E C O N D Q U A R T E R F Y 2 2 R E S U L T S 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 November 4, 2021 in the “About Non-GAAP Finan
Slide 17: Adjusted Gross Margin Reconciliation Schedules
S E C O N D Q U A R T E R F Y 2 2 R E S U L T S Adjusted Gross Margin 17 Reconciliation Schedules Organic Revenue Change a) Inventory step-up charges relate to our North American OTC Healthcare segment. a) Revenues of our Akorn acquisition are excluded for purposes of calculating Non-GAAP organic re
Slide 18: Reconciliation Schedules (Continued) Adjusted G&A
S E C O N D Q U A R T E R F Y 2 2 R E S U L T S 18 Reconciliation Schedules (Continued) Adjusted G&A a) Costs related to the consummation of the acquisition process such as insurance costs, legal and other acquisition related professional fees.
Slide 19: Reconciliation Schedules (Continued) Adjusted EBITDA Margin
S E C O N D Q U A R T E R F Y 2 2 R E S U L T S 19 Reconciliation Schedules (Continued) Adjusted EBITDA Margin a) Inventory step-up charges relate to our North American OTC Healthcare segment. b) Costs related to the consummation of the acquisition process such as insurance costs, legal and other ac
Slide 20: Reconciliation Schedules (Continued) Adjusted Net Income & Adjusted EPS
S E C O N D Q U A R T E R F Y 2 2 R E S U L T S 20 Reconciliation Schedules (Continued) Adjusted Net Income & Adjusted EPS a) Inventory step-up charges relate to our North American OTC Healthcare segment. b) Costs related to the consummation of the acquisition process such as insurance costs, legal
Slide 21: Reconciliation Schedules (Continued) Adjusted Free Cash Flow
S E C O N D Q U A R T E R F Y 2 2 R E S U L T S 21 Reconciliation Schedules (Continued) Adjusted Free Cash Flow a) Payments related to the consummation of the acquisition process such as insurance costs, legal and other acquisition related professional fees.
Slide 22: Projected Free Cash Flow and Projected EPS Reconciliation
S E C O N D Q U A R T E R F Y 2 2 R E S U L T S Projected Free Cash Flow 22 Reconciliation Schedules (Continued) Projected EPS a) Costs related to the consummation of the acquisition process such as inventory step-up charges, insurance costs, legal and other acquisition related professional fees. a)
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