Prestige Consumer Healthcare Inc. · NYSE:PBH
Prestige Consumer Healthcare — Q2 FY2024 Earnings Presentation
17 slides from Prestige Consumer Healthcare's earnings presentation, Nov 2, 2023
Slide 1: Second Quarter FY 2024 Results
Second Quarter FY 2024 Results November 2nd, 2023
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, organic revenue growth, diluted EPS, free
Slide 3: Agenda for Today's Discussion
Agenda for Today’s Discussion I. Performance Update II. Financial Overview III. FY 24 Outlook SECOND QUARTER FY 24 RESULTS 3
Slide 4: I. Performance Update
I. Performance Update SECOND QUARTER FY 24 RESULTS
Slide 5: Continued Strong Results in Q2 FY 24
Continued Strong Results in Q2 FY 24 ◼ Solid quarterly Revenue of $286.3 million, similar to prior year’s record level Q2 FY 24 Sales ◼ Consumers continue to seek the benefits of trusted consumer healthcare brands Drivers ◼ Continue to benefit from leading & diversified portfolio Superior Earnings ◼
Slide 6: Brand-Building through Robust Omnichannel Campaigns
Brand-Building through Robust Omnichannel Campaigns New Collateral Across Social & Digital Highly Visible National Media NFL 25 Estimated 9 Games Million Impressions ◼ High-touch, omnichannel media driving awareness across channels ◼ National exposure on Amazon Prime Thursday Night Football ◼ Improv
Slide 7: Strong Online Growth via Strategic Conversion Campaigns
Strong Online Growth via Strategic Conversion Campaigns Continuing to +6% Upgrade User Experience ◼ Continued strong performance across all eCommerce partners Engaging Content Driving Traffic & Conversion *Retail sales as of 9.30.2023 SECOND QUARTER FY 24 RESULTS 7
Slide 8: II. Financial Overview
II. Financial Overview SECOND QUARTER FY 24 RESULTS
Slide 9: Second Quarter and 1H FY 24 Performance Highlights
Second Quarter and 1H FY 24 Performance Highlights FY 24 FY 23 Revenues of $286.3 million, down 0.7% versus (1.0%) record PY excluding FX $286.3 $289.3 4.2% Q2 $95.7 $91.8 5.4% $1.07 $1.02 (2) Revenues EBITDA EPS EBITDA(2) of $95.7 million up 4.2% versus PY Q2 (0.1%) $565.6 $566.3 1.7% $189.6 $186.4
Slide 10: FY 24 Second Quarter and 1H Consolidated Financial Summary
FY 24 Second Quarter and 1H Consolidated Financial Summary 3 Months Ended 6 Months Ended 1H Comments Q2 FY 24 Q2 FY 23 % Chg 1H FY 24 1H FY 23 % Chg ◼ Organic Revenue(1) approximately flat vs. Total Revenues $ 286.3 $ 289.3 (1.0%) $ 565.6 $ 566.3 (0.1%) record PY, as expected Gross Margin 160.0 161.
Slide 11: Strong Free Cash Flow Enabling Reduced Leverage
Strong Free Cash Flow Enabling Reduced Leverage Free Cash Flow(2) Comments Q2 FY 24 Q2 FY 23 1H FY 24 1H FY 23 ◼ Total 1H FY 24 Free Cash Flow(2) of $106.1 million down 5.5% vs. PY due to the timing of working (5.5%) capital $112.4 $106.1 ◼ Net Debt(2) at September 30 of $1.2 billion; leverage ratio
Slide 12: III. FY 24 Outlook
III. FY 24 Outlook SECOND QUARTER FY 24 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 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%
Slide 14: Q&A
Q&A SECOND QUARTER FY 24 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 2, 2023 in the “About Non-GAAP Financial Measures” section. (2) EBITDA & EBITDA Marg
Slide 16: Reconciliation Schedules
Reconciliation Schedules Organic Revenue Change Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 (In Thousands) GAAP Total Revenues $ 286,316 $ 289,273 $ 565,625 $ 566,332 Revenue Change (1.0%) (0.1%) Adjustments: Impact of foreign currency exchange rates - (1,035)
Slide 17: Reconciliation Schedules (Continued)
Reconciliation Schedules (Continued) Free Cash Flow Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 (In Thousands) GAAP Net Income $ 53,559 $ 51,023 $ 106,835 $ 106,295 Adjustments: Adjustments to reconcile net income to net cash provided by operating activities a
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