Prestige Consumer Healthcare Inc

Latest Results (07.08.2024):

Revenue Performance

Prestige Consumer Healthcare Inc. reported revenues of $277.0 million for the fourth quarter of fiscal 2024, compared to $285.9 million in the same quarter of fiscal 2023. This represents a 2.9% decrease, excluding the impact of foreign currency. The decline was primarily due to supply chain constraints affecting certain brands, the strategic exit from private label revenues, and lower sales in the Women’s Health category, partially offset by growth in the International OTC segment.

Net Income and Earnings

For the fourth quarter of fiscal 2024, Prestige Consumer Healthcare Inc. reported a net income of $49.5 million, a significant improvement from the net loss of $240.6 million in the same quarter of the previous year. Diluted earnings per share were $0.98, compared to a diluted loss per share of $4.83 in the prior year period. Non-GAAP adjusted net income was $51.4 million, with adjusted diluted earnings per share of $1.02, compared to $1.07 in the previous year.

Full-Year Financials

For the fiscal year ended March 31, 2024, Prestige Consumer Healthcare Inc. reported revenues of $1,125.4 million, a slight increase from $1,127.7 million in fiscal 2023. The revenue growth was driven by strong performance in the International OTC segment and robust sales in the Eye & Ear Care, GI, and Dermatological categories in North America, offset by declines in the Women’s Health, Cough & Cold, and Analgesic categories, as well as the strategic exit from private label revenues.

Cash Flow and Leverage

Prestige Consumer Healthcare Inc. generated $66.9 million in net cash from operating activities in the fourth quarter of fiscal 2024, up from $59.0 million in the same period of the previous year. For the full fiscal year, net cash from operating activities was $248.9 million, compared to $229.7 million in fiscal 2023. The company’s leverage ratio was reduced to 2.8x by the end of fiscal 2024, below its long-term target of 3x.

Share Repurchase Program

On May 6, 2024, the Board of Directors of Prestige Consumer Healthcare Inc. authorized a new $300 million share repurchase program. The timing and amount of repurchases will depend on market conditions, legal requirements, and other corporate considerations. This initiative aims to maximize shareholder value while maintaining financial flexibility for potential debt reduction or strategic acquisitions.