Prestige Consumer Healthcare Inc. · NYSE:PBH
Prestige Consumer Healthcare — Q3 2024 Earnings Presentation
17 slides from Prestige Consumer Healthcare's earnings presentation, Feb 8, 2024
Slide 1: Third Quarter FY 2024 Results
Third Quarter FY 2024 Results February 8th, 2024
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, leverage, free cash flow, and
Slide 3: Agenda for Today's Discussion
Agenda for Today’s Discussion I. Performance Update II. Financial Overview III. FY24 Outlook THIRD QUARTER FY24 RESULTS 3
Slide 4: I. Performance Update
I. Performance Update THIRD QUARTER FY24 RESULTS
Slide 5: Continued Momentum in Q3 FY24
Continued Momentum in Q3 FY24 ◼ Solid quarterly Revenue of $282.7 million, up 2.6% vs. PY Q3 FY24 Sales ◼ Continue to benefit from diverse portfolio of trusted brands Drivers ◼ Strong growth led by Eye & Ear Care category & International segment ◼ Gross Margin improved versus prior year, as expected
Slide 6: Comprehensive Eye & Ear Care Portfolio Delivering Strong Growth
Comprehensive Eye & Ear Care Portfolio Delivering Strong Growth Full Spectrum Keyof Solutions Drivers Brand-Building DrivingDriving Brand-Building Category LeadershipGrowth Consumption & Growth Engaging Campaigns Insight Driven & Content Innovation #1 Impactful Redness relief claims brand at retail1
Slide 7: II. Financial Overview
II. Financial Overview THIRD QUARTER FY24 RESULTS
Slide 8: Third Quarter and YTD FY24 Performance Highlights
Third Quarter and YTD FY24 Performance Highlights FY24 FY23 2.6% Revenue of $282.7 million, up 2.6% vs. PY on an organic basis(1) $282.7 $275.5 (0.4%) Q3 $ 93.8 $94.2 2.2% $1.06 $1.04 (3) Revenue EBITDA EPS EBITDA(3) of $93.8 million, down 0.4% vs. PY, owing to timing of A&M investments 0.8% $848.4
Slide 9: FY24 Third Quarter and YTD Consolidated Financial Summary
FY24 Third Quarter and YTD Consolidated Financial Summary 3 Months Ended 9 Months Ended YTD FY24 Comments Q3 FY 24 Q3 FY 23 % Chg YTD FY 24 YTD FY 23 % Chg ◼ Organic Revenue(1) up 1.2% vs. PY Total Revenue $ 282.7 $ 275.5 2.6% $ 848.4 $ 841.9 0.8% – Strong performance led by international Gross Marg
Slide 10: Industry Leading Free Cash Flow Trends
Industry Leading Free Cash Flow Trends Free Cash Flow(3) Comments Q3 FY24 Q3 FY23 YTD FY24 YTD FY23 ◼ YTD FY24 Free Cash Flow(3) of $175.6 million up 6.1% vs. PY 6.1% ◼ Net Debt at December 31, 2023 of $1.1 billion(3); leverage ratio(4) of 2.9x at end of Q3 $175.6 $165.5 ◼ Reduced leverage & consist
Slide 11: III. FY24 Outlook
III. FY24 Outlook THIRD QUARTER FY24 RESULTS
Slide 12: Raising FY24 Earnings Outlook
Raising FY24 Earnings Outlook ◼ Strategy delivering with growing and well-positioned business ◼ Agile brand-building positions portfolio for further growth ◼ Revenue of $1,135 million to $1,140 million Top Line Trends — Organic growth of 1% to 2% ex-FX — Organic growth of 2% to 3% when excluding str
Slide 13: Consistently Delivering Strong Financial Performance
Consistently Delivering Strong Financial Performance Organic Long-Term Algorithm High Proven & Organic Growth(1) Free Cash Flow(3) Repeatable M&A of 2.0% to 3.0% Generation Strategy Current Leverage Supports Additional 6.0% to 8.0% EPS Growth Upside Potential Value Creating Capital Allocation Option
Slide 14: Q&A
Q&A THIRD QUARTER FY24 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 February 8, 2024 in the “About Non-GAAP Financial Measures” section. (2) Company consumption
Slide 16: Reconciliation Schedules
Reconciliation Schedules Organic Revenue Change Three Months Ended December 31, Nine Months Ended December 31, 2023 2022 2023 2022 (In Thousands) GAAP Total Revenues $ 282,741 $ 275,524 $ 848,366 $ 841,856 Revenue Change 2.6% 0.8% Adjustments: Impact of foreign currency exchange rates - 55 - (3,704)
Slide 17: Reconciliation Schedules (Continued)
Reconciliation Schedules (Continued) Adjusted Free Cash Flow Three Months Ended December 31, Nine Months Ended December 31, 2023 2022 2023 2022 (In Thousands) GAAP Net Income $ 53,046 $ 51,951 $ 159,881 $ 158,246 Adjustments: Adjustments to reconcile net income to net cash provided by operating acti
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