Prestige Consumer Healthcare Inc. · NYSE:PBH
Prestige Consumer Healthcare — Q2 2023 Earnings Presentation
20 slides from Prestige Consumer Healthcare's earnings presentation, Nov 3, 2022
Slide 1: Second Quarter FY 2023 Results
Second Quarter FY 2023 Results November 3rd, 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, leverage, free cash flow, and
Slide 3: Agenda for Today's Discussion
Agenda for Today’s Discussion I. Performance Update II. Financial Overview III. FY 23 Outlook SECOND QUARTER FY 23 RESULTS 3
Slide 4: I. Performance Update
I. Performance Update SECOND QUARTER FY 23 RESULTS
Slide 5: Business Momentum Continued in Second Quarter FY 23
Business Momentum Continued in Second Quarter FY 23 ◼ Solid quarterly Revenue of $289.3 million, up 5.5% vs. PY excluding FX(1) Q2 FY 23 Sales ◼ Consumers continue to seek the benefits of trusted consumer healthcare brands Drivers ◼ Strong growth led by international portfolio Superior Earnings ◼ Gr
Slide 6: Dramamine: Thinking Beyond Motion Sickness
Dramamine: Thinking Beyond Motion Sickness Broadened Motion Sickness Offering Successful Expansion to Nausea Driven by Consumer Insights Robust Digital Campaign Supporting Ginger Chews New Forms & Flavors New 6ct! #1 Brand* in Motion Sickness #1 Brand* in Nausea Successful Brand Building Resulting i
Slide 7: Growing Online by Continuing to Connect with Consumers
Growing Online by Continuing to Connect with Consumers Increased Investment in Online User +15% Experience ◼ Continued strong performance across all eCommerce partners Engaging ◼ Targeted content and marketing enable Digital many brands to hold market shares greater than brick & mortar channels Camp
Slide 8: II. Financial Overview
II. Financial Overview SECOND QUARTER FY 23 RESULTS
Slide 9: Second Quarter and 1H FY 23 Performance Highlights
Second Quarter and 1H FY 23 Performance Highlights FY 23 FY 22 Revenues of $289.3 million, up 5.5% versus PY 4.7% Q2 on an organic basis(1) $289.3 $276.2 (1.0%) Q2 $91.8 $92.7 0.0% $1.02 $1.02 (2) (2) Revenues Adjusted EBITDA Adjusted EPS EBITDA(2) of $91.8 million down 1.0% versus Adjusted(2) PY Q2
Slide 10: FY 23 Second Quarter and 1H Consolidated Financial Summary
FY 23 Second Quarter and 1H Consolidated Financial Summary 3 Months Ended 6 Months Ended 1H Comments Q2 FY 23 Q2 FY 22 % Chg 1H FY 23 1H FY 22 % Chg ◼ Organic Revenue(1) up 2.2% vs. PY Total Revenues $ 289.3 $ 276.2 4.7% $ 566.3 $ 545.4 3.8% – Double-digit eCommerce consumption (2) Adj. Gross Margin
Slide 11: Industry Leading Free Cash Flow Trends
Industry Leading Free Cash Flow Trends Adjusted Free Cash Flow(2) Comments Q2 FY 23 Q2 FY 22 1H FY 23 1H FY 22 ◼ Total 1H FY 23 Free Cash Flow(2) of $112.4 million down 13.4% vs. Adjusted(2) PY due to the timing of (13.4%) working capital $129.7 ◼ Net Debt(2) at September 30 of $1.4 billion; $112.4
Slide 12: III. FY 23 Outlook
III. FY 23 Outlook SECOND QUARTER FY 23 RESULTS
Slide 13: Reaffirming Outlook Driven by Consistent Business Strategy
Reaffirming Outlook Driven by Consistent Business Strategy ◼ Strategy delivering with growing and well-positioned business ◼ Agile brand-building and diverse portfolio enabling growth in a dynamic Top Line Trends environment ◼ Revenue outlook of $1,120 Million to $1,130 Million (~3% to 4% growth) —
Slide 14: Q&A
Q&A SECOND 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 November 3, 2022 in the “About Non-GAAP Financial Measures” section. (2) Adjusted Gross Margi
Slide 16: Reconciliation Schedules
Reconciliation Schedules Organic Revenue Change Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 (In Thousands) GAAP Total Revenues $ 289,273 $ 276,225 $ 566,332 $ 545,406 Revenue Change 4.7% 3.8% Adjustments: Revenues associated with acquisition (a) - - (12,624) -
Slide 17: Reconciliation Schedules (Continued)
Reconciliation Schedules (Continued) Adjusted G&A Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 (In Thousands) GAAP General and Administrative Expense $ 26,438 $ 32,252 $ 53,152 $ 54,723 GAAP General and Administrative Expense as a Percentage of GAAP Total Reven
Slide 18: Reconciliation Schedules (Continued)
Reconciliation Schedules (Continued) Adjusted EBITDA Margin Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 (In Thousands) GAAP Net Income $ 51,023 $ 45,325 $ 106,295 $ 103,080 Interest expense, net 16,979 16,313 32,271 31,390 Provision for income taxes 15,570 14,
Slide 19: Reconciliation Schedules (Continued)
Reconciliation Schedules (Continued) Adjusted Net Income & Adjusted EPS Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 Net Diluted Net Diluted Net Diluted Net Diluted Income EPS Income EPS Income EPS Income EPS (In Thousands, except per share data) GAAP Net Incom
Slide 20: Reconciliation Schedules (Continued)
Reconciliation Schedules (Continued) Adjusted Free Cash Flow Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 (In Thousands) GAAP Net Income $ 51,023 $ 45,325 $ 106,295 $ 103,080 Adjustments: Adjustments to reconcile net income to net cash provided by operating act
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