Prestige Consumer Healthcare Inc. · NYSE:PBH
Prestige Consumer Healthcare — Q1 FY2022 Earnings Presentation
20 slides from Prestige Consumer Healthcare's earnings presentation, Aug 5, 2021
Slide 1: First Quarter FY 2022 Results
First Quarter FY 2022 Results August 5th, 2021 Exhibit 99.2
Slide 2: Safe Harbor Disclosure
F I R S T 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, free
Slide 3: Agenda for Today's Discussion
F I R S T Q U A R T E R F Y 2 2 R E S U L T S Agenda for Today’s Discussion I. Performance Update II. Financial Overview III. FY 22 Outlook 3
Slide 4: I. Performance Update
F I R S T Q U A R T E R F Y 2 2 R E S U L T S I. Performance Update
Slide 5: Record Q1 Results Driven by Share Gains & COVID Recovery
F I R S T Q U A R T E R F Y 2 2 R E S U L T S Strong Q1 Results & Well Positioned for FY 22 ◼ Impressive consumption growth and market share(2) gains across the portfolio ◼ Sharp rebound in COVID-impacted categories added ~$25 million of revenue ◼ Strong growth of 5% across the remainder of the port
Slide 6: Consumer Behavior Driving Rapid Recovery
F I R S T Q U A R T E R F Y 2 2 R E S U L T S Consumer Behavior Driving Rapid Recovery 6 100 256 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 Dramamine Returned to Long-Term Growth Trajectory While Winning Market Share(2) Case Study: DramamineKey Commentary Sharp recovery in certain impacted brands d
Slide 7: Strategic Acquisition of Complementary TheraTears Brand
F I R S T Q U A R T E R F Y 2 2 R E S U L T S Portfolio Overview Strategic Acquisition of Complementary TheraTears Brand Strategic Rationale 7 77% 23% 2020A Net Sales $13 $58 Million $45 Scale TheraTears Brand with Leading Position in Dry Eye Segment Creates new $100MM+ Platform in Growing Eye Care
Slide 8: Large Addressable Market: $100MM+ Eye Care Portfolio
F I R S T Q U A R T E R F Y 2 2 R E S U L T S Large Addressable Market $100MM+ Eye Care Portfolio with Comprehensive Offering Leading Market Positions Targeted Product Offering Well-Positioned to Execute on Market Opportunity 8 53% 27% 15% 5% $1.3 Billion CY 2020 Retail Sales1 Dry Eye Redness Other
Slide 9: Clear Eyes: Proven Success Executing Against our Playbook
F I R S T Q U A R T E R F Y 2 2 R E S U L T S 9 Clear Eyes: Proven Success Executing Against our Playbook Innovation Digital Investments Broad Distribution Proven History of Expertise & Growth in Eye Care Winning Campaigns eCommerce Drug Mass
Slide 10: II. Financial Overview
F I R S T Q U A R T E R F Y 2 2 R E S U L T S II. Financial Overview
Slide 11: Q1 FY22 Performance Highlights
F I R S T Q U A R T E R F Y 2 2 R E S U L T S Q1 FY 22 Performance Highlights Q1 FY 22 Q1 FY 21 Dollar values in millions, except per share data. $269.2 $99.0 $1.14 $229.4 $87.6 $0.86 Revenue EBITDA Diluted EPS 17.3% 13.1% 32.5% Revenue of $269.2 million, up 17.3% vs. PY Record Diluted EPS of $1.14,
Slide 12: First Quarter Consolidated Financial Summary
F I R S T Q U A R T E R F Y 2 2 R E S U L T S Q1 FY 22 Q1 FY 21 % Chg Total Revenue 269.2$ 229.4$ 17.3% Gross Margin 159.0 133.9 18.8% % Margin 59.1% 58.4% A&M 39.4 27.8 42.1% % Total Revenue 14.7% 12.1% G&A 22.5 19.9 12.7% % Total Revenue 8.3% 8.7% D&A 5.8 6.1 (5.0%) Operating Income 91.4$ 80.1$ 14
Slide 13: Free Cash Flow and Net Debt
F I R S T Q U A R T E R F Y 2 2 R E S U L T S $67.8 $72.6 Free Cash Flow Free Cash Flow Comments ◼ Q1 Free Cash Flow(3) of $67.8 million down vs. PY, affected by timing – Raising full year outlook for Free Cash Flow(3) ◼ Net Debt(3) at June 30 of $1.4 billion – Proactively built cash balance ahead o
Slide 14: III. FY22 Outlook
F I R S T Q U A R T E R F Y 2 2 R E S U L T S III. FY 22 Outlook
Slide 15: Outlook: Raising FY Expectations
F I R S T Q U A R T E R F Y 2 2 R E S U L T S Outlook: Raising FY 22 Expectations ◼ Remain well-positioned in dynamic environment ◼ Sharp rebound in certain COVID-impacted categories ◼ Strong organic growth enabled by long-term brand building strategy ◼ FY 22 Revenue of $1.045 billion or higher — Or
Slide 16: Q&A
F I R S T Q U A R T E R F Y 2 2 R E S U L T S Q&A
Slide 17: Appendix
F I R S T Q U A R T E R F Y 2 2 R E S U L T S Appendix (1) Organic Revenue is a Non-GAAP financial measure and is reconciled to the most closely related GAAP financial measure in the attached Reconciliation Schedules and / or our earnings release dated August 5, 2021 in the “About Non-GAAP Financial
Slide 18: Reconciliation Schedules
F I R S T Q U A R T E R F Y 2 2 R E S U L T S 18 Reconciliation Schedules Organic Revenue Three Months Ended June 30, Year Ended March 31, 2021 2020 (In Thousands) GAAP Total Revenues 269,181$ 229,394$ Revenue Change 17.3% Adjustments: Impact of foreign currency exchange rates - 3,543 Total adjustme
Slide 19: Reconciliation Schedules (Continued): Free Cash Flow
F I R S T Q U A R T E R F Y 2 2 R E S U L T S Three Months Ended June 30, Year Ended March 31, 2021 2020 (In Thousands) GAAP Net Income 57,755$ 43,706$ Adjustments: Adjustments to reconcile net income to net cash provided by operating activities as shown in the Statement of Cash Flows 17,824 18,401
Slide 20: Reconciliation Schedules (Continued): Projected EPS and Free Cash Flow
F I R S T Q U A R T E R F Y 2 2 R E S U L T S 20 Reconciliation Schedules (Continued) Projected EPS Projected Free Cash Flow (In millions) Projected FY'22 GAAP Net Cash provided by operating activities 240$ Purchases of property and equipment (10) Projected Non-GAAP Free Cash Flow 230 Payments assoc
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