Prestige Consumer Healthcare Inc. Reports First Quarter Fiscal 2025 Results

Rhea-AI Summary

Prestige Consumer Healthcare Inc. (NYSE:PBH) reported Q1 fiscal 2025 results with revenue of $267.1 million, down 4.4% year-over-year but ahead of expectations. EPS was $0.98 and adjusted EPS was $0.90, compared to $1.06 in the prior year. Cash from operations increased 13.9% to $54.8 million. The company reduced debt by $35 million and repurchased $26 million in shares.

Key highlights:

• North American OTC Healthcare segment revenue decreased 5.6% to $232.3 million
• International OTC Healthcare segment revenue increased 5.0% to $34.8 million
• Free cash flow increased to $53.6 million
• Net debt position of approximately $1.1 billion with a leverage ratio of 2.8x

The company reaffirmed its full-year fiscal 2025 outlook, expecting revenue of $1,125 to $1,140 million, organic revenue growth of approximately 1%, and adjusted EPS of $4.40 to $4.46.

Positive

• Revenue of $267.1 million exceeded expectations despite 4.4% year-over-year decline
• Cash from operations increased 13.9% to $54.8 million
• International OTC Healthcare segment revenue grew 5.0%
• Free cash flow increased to $53.6 million from $46.6 million in the prior year
• Company reaffirmed full-year fiscal 2025 outlook
• Reduced debt by $35 million and repurchased $26 million in shares

Negative

• Overall revenue decreased 4.4% year-over-year to $267.1 million
• EPS and adjusted EPS decreased compared to the prior year
• North American OTC Healthcare segment revenue declined 5.6%
• Declines reported in Cough & Cold and Women's Health categories

Insights

Financial Analyst

Prestige Consumer Healthcare's Q1 FY2025 results present a mixed picture. While revenue of $267.1 million exceeded expectations, it still represents a 4.4% year-over-year decline. The adjusted EPS of $0.90 is lower than the $1.06 reported in the prior year, primarily due to planned marketing costs and lower revenues.

However, there are positive signs in cash flow generation and debt reduction. Cash from operations increased by 13.9% to $54.8 million, allowing the company to reduce debt by $35 million and repurchase $26 million in shares. This demonstrates strong financial management and a commitment to shareholder value.

The reaffirmation of the full-year fiscal 2025 outlook, including organic revenue growth of approximately 1% and adjusted EPS growth of 5% to 6%, suggests management's confidence in overcoming current challenges. Investors should monitor the company's ability to navigate supply chain issues and capitalize on the expected gradual improvements throughout the year.

Market Research Analyst

The Q1 results reveal interesting market dynamics for Prestige Consumer Healthcare. The North American OTC Healthcare segment saw a 5.6% decline, primarily due to supply constraints for Clear Eyes and weakness in Cough & Cold and Women's Health categories. This suggests potential market share vulnerabilities in these areas.

Conversely, the International OTC Healthcare segment showed robust growth of 5.0% (5.3% excluding currency effects), driven by strong performance of the Hydralyte brand. This indicates successful international expansion and potential for further growth in global markets.

The company's ability to move supply-constrained Clear Eyes products to customers earlier than anticipated demonstrates effective supply chain management in a challenging environment. However, the ongoing supply chain issues highlight the need for continued operational improvements to meet market demand efficiently.

Overall, while facing some headwinds, Prestige Consumer Healthcare's diverse portfolio and international growth prospects provide a balanced market position with opportunities for strategic expansion.

08/08/2024 - 06:00 AM

• Revenue of $267.1 Million in Q1, Ahead of Expectations, down 4.4% versus Prior Year
• EPS of $0.98 and Adjusted EPS of $0.90 in Q1 Compared to $1.06 in the Prior Year
• Cash from Operations of $54.8 Million up 13.9% versus Prior Year; Reduced Debt by $35 Million and Repurchased $26 Million Shares
• Reaffirming Full-Year Fiscal 2025 Revenue, Earnings, and Cash Flow Outlook

TARRYTOWN, N.Y., Aug. 08, 2024 (GLOBE NEWSWIRE) -- Prestige Consumer Healthcare Inc. (NYSE:PBH) today reported financial results for its first quarter ended June 30, 2024.

“We are pleased that our first quarter results exceeded our sales and earnings expectations. First quarter revenues were stronger than expected, primarily due to our ability to move supply-constrained Clear Eyes® products to customers earlier than anticipated. Meanwhile, strong cash generation in Q1 allowed us to both continue reducing debt and repurchase shares during the quarter, positioning us well to drive additional shareholder value as the year progresses,” said Ron Lombardi, Chief Executive Officer of Prestige Consumer Healthcare.

First Fiscal Quarter Ended June 30, 2024

Reported revenues in the first quarter of fiscal 2025 of $267.1 million decreased 4.4% from $279.3 million in the first quarter of fiscal 2024 and decreased 4.3% excluding the impact of foreign currency. The revenue performance versus the prior year comparable period reflected anticipated limited ability to supply strong demand for Clear Eyes and declines in the Cough & Cold and Women’s Health categories, partially offset by continued strong growth in the International OTC segment.

Reported net income for the first quarter of fiscal 2025 totaled $49.1 million, and adjusted net income for the first quarter fiscal 2025 totaled $45.0 million, each compared to the prior year first quarter’s net income of $53.3 million. Diluted earnings per share and non-GAAP adjusted diluted earnings per share of $0.98 and $0.90 for the first quarter of fiscal 2025, respectively, compared to $1.06 in the prior year comparable period. The lower year-over-year quarterly earnings result was anticipated due to the planned timing of marketing costs and lower reported revenues.

The adjustment to the first quarter of fiscal 2025 relates to a discrete tax item pertaining to the release of a reserve for an uncertain tax position due to the statute of limitations expiring.

Free Cash Flow and Balance Sheet

The Company's net cash provided by operating activities for first quarter fiscal 2025 was $54.8 million, an increase compared to $48.1 million during the prior year comparable period. Non-GAAP free cash flow in the first quarter of fiscal 2025 of $53.6 million increased compared to $46.6 million in the prior year first quarter.

In the first quarter fiscal 2025, the Company repurchased approximately 0.4 million shares at a total investment of approximately $26.0 million.

The Company's net debt position as of June 30, 2024 was approximately $1.1 billion, resulting in a covenant-defined leverage ratio of 2.8x.

Segment Review

North American OTC Healthcare: Segment revenues of $232.3 million for the first quarter fiscal 2025 decreased 5.6% compared to the prior year comparable quarter's segment revenues of $246.1 million. The anticipated revenue decline reflected the ability to fully supply demand for Clear Eyes and declines in the Cough & Cold and Women’s Health categories.

International OTC Healthcare: Fiscal first quarter 2025 revenues of $34.8 million increased 5.0% compared to $33.2 million reported in the prior year comparable period, and increased 5.3% excluding the effects of foreign currency. The performance included strong growth for the Hydralyte® brand as well as growth other international regions.

Commentary and Reaffirmed Outlook for Fiscal 2025

Ron Lombardi, Chief Executive Officer, stated, “We’re encouraged by a solid start to fiscal ’25 for both revenue and earnings. First quarter revenues benefitted from both the accelerated timing of Clear Eyes shipments as well as International OTC growth consistent with our long-term expectations, which partially offset the expected impacts of weakness in the Women’s Health and Cough & Cold categories. Even with higher costs associated with expedient shipments due to tight supply, we were still able to maintain strong earnings and resulting free cash flow, which was used to both reduce debt and buyback shares opportunistically.”

“We are reaffirming our fiscal 2025 outlook for sales, adjusted earnings, and cash flow. Consumption remains healthy for our portfolio and reinforces conviction in our full-year revenue outlook. We still expect the supply chain challenges we discussed in May to gradually improve as the year progresses, enabling full-year adjusted EPS growth of 5% to 6%. We look forward to the execution of our business model that is focused on long-term brand-building and leveraging our cash generation and strong balance sheet position to maximize shareholder value through disciplined capital deployment,” Mr. Lombardi concluded.

	Fiscal 2025 Outlook
Revenue	$1,125 to $1,140 million
Organic Revenue Growth	Approximately 1%
Adjusted Diluted E.P.S.	$4.40 to $4.46
Free Cash Flow	$240 million or more

Fiscal First Quarter 2025 Conference Call, Accompanying Slide Presentation and Replay

The Company will host a conference call to review its first quarter fiscal 2025 results today, August 8, 2024 at 8:30 a.m. ET. The Company provides a live Internet webcast, a slide presentation to accompany the call, as well as an archived replay, all of which can be accessed from the Investor Relations page of the Company's website at www.prestigeconsumerhealthcare.com. To participate in the conference call via phone, participants may register for the call here to receive dial-in details and a unique pin. While not required, it is recommended to join 10 minutes prior to the event start. The slide presentation can be accessed from the Investor Relations page of the website by clicking on Webcasts and Presentations.

A conference call replay will be available for approximately one week following completion of the live call and can be accessed on the Company’s Investor Relations page.

Non-GAAP and Other Financial Information

In addition to financial results reported in accordance with generally accepted accounting principles (GAAP), we have provided certain non-GAAP financial information in this release to aid investors in understanding the Company's performance. Each non-GAAP financial measure is defined and reconciled to its most closely related GAAP financial measure in the “About Non-GAAP Financial Measures” section at the end of this earnings release.

Note Regarding Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of the federal securities laws that are intended to qualify for the Safe Harbor from liability established by the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" generally can be identified by the use of forward-looking terminology such as "guidance," "outlook," "projected," ““forward,” "may," "will," "would," "expect," "anticipate," “planned,” “positioned,” “remains,” “conviction,” or "continue" (or the negative or other derivatives of each of these terms) or similar terminology. The "forward-looking statements" include, without limitation, statements regarding the Company's future operating results including revenues, organic growth, diluted earnings per share, and free cash flow, the Company’s disciplined capital deployment, the Company’s ability to execute on its brand-building strategy, the growth of the International OTC segment, consumption expectations, the timing and extent of supply chain challenges, the strength of the Company’s balance sheet, and the Company’s ability to create shareholder value. These statements are based on management's estimates and assumptions with respect to future events and financial performance and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results could differ materially from those expected as a result of a variety of factors, including the impact of business and economic conditions, including as a result of labor shortages, inflation and geopolitical instability, consumer trends, the impact of the Company’s advertising and marketing and new product development initiatives, customer inventory management initiatives, fluctuating foreign exchange rates, competitive pressures, and the ability of the Company’s manufacturing operations and third party manufacturers and logistics providers and suppliers to meet demand for its products and to avoid inflationary cost increases and disruption as a result of labor shortages. A discussion of other factors that could cause results to vary is included in the Company's Annual Report on Form 10-K for the year ended March 31, 2024 and other periodic reports filed with the Securities and Exchange Commission.

About Prestige Consumer Healthcare Inc.

Prestige Consumer Healthcare is a leading consumer healthcare products company with sales throughout the U.S. and Canada, Australia, and in certain other international markets. The Company’s diverse portfolio of brands include Monistat® and Summer’s Eve® women's health products, BC® and Goody's® pain relievers, Clear Eyes® and TheraTears® eye care products, DenTek® specialty oral care products, Dramamine® motion sickness treatments, Fleet® enemas and glycerin suppositories, Chloraseptic® and Luden's® sore throat treatments and drops, Compound W® wart treatments, Little Remedies® pediatric over-the-counter products, Boudreaux’s Butt Paste® diaper rash ointments, Nix® lice treatment, Debrox® earwax remover, Gaviscon® antacid in Canada, and Hydralyte® rehydration products and the Fess® line of nasal and sinus care products in Australia. Visit the Company's website at www.prestigeconsumerhealthcare.com.

Prestige Consumer Healthcare Inc.
Condensed Consolidated Statements of Income and Comprehensive Income
(Unaudited)
		Three Months Ended June 30,
(In thousands, except per share data)			2024				2023
Total Revenues		$	267,142			$	279,309
Cost of Sales
Cost of sales excluding depreciation			118,697				122,654
Cost of sales depreciation			2,423				1,982
Cost of sales			121,120				124,636
Gross profit			146,022				154,673
Operating Expenses
Advertising and marketing			39,365				36,231
General and administrative			28,910				27,687
Depreciation and amortization			5,701				5,561
Total operating expenses			73,976				69,479
Operating income			72,046				85,194
Other expense
Interest expense, net			13,137				17,719
Other expense (income), net			496				(1,238	)
Total other expense, net			13,633				16,481
Income before income taxes			58,413				68,713
Provision for income taxes			9,345				15,437
Net income		$	49,068			$	53,276
Earnings per share:
Basic		$	0.98			$	1.07
Diluted		$	0.98			$	1.06
Weighted average shares outstanding:
Basic			49,886				49,767
Diluted			50,267				50,196
Comprehensive income, net of tax:
Currency translation adjustments			3,160				(646	)
Total other comprehensive income (loss)			3,160				(646	)
Comprehensive income		$	52,228			$	52,630

Prestige Consumer Healthcare Inc.
Condensed Consolidated Balance Sheets
(Unaudited)
(In thousands)		June 30, 2024				March 31, 2024
Assets
Current assets
Cash and cash equivalents		$	34,256			$	46,469
Accounts receivable, net of allowance of $18,684 and $16,377, respectively			171,695				176,775
Inventories			152,040				138,717
Prepaid expenses and other current assets			10,750				13,082
Total current assets			368,741				375,043
Property, plant and equipment, net			75,409				76,507
Operating lease right-of-use assets			9,997				11,285
Finance lease right-of-use assets, net			877				1,541
Goodwill			528,443				527,733
Intangible assets, net			2,317,817				2,320,583
Other long-term assets			6,232				5,725
Total Assets		$	3,307,516			$	3,318,417
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable			39,556				38,979
Accrued interest payable			15,248				15,763
Operating lease liabilities, current portion			3,654				4,658
Finance lease liabilities, current portion			795				1,494
Other accrued liabilities			54,862				56,154
Total current liabilities			114,115				117,048
Long-term debt, net			1,091,207				1,125,804
Deferred income tax liabilities			409,085				403,596
Long-term operating lease liabilities, net of current portion			7,055				7,528
Long-term finance lease liabilities, net of current portion			149				172
Other long-term liabilities			5,138				9,185
Total Liabilities			1,626,749				1,663,333
Total Stockholders' Equity			1,680,767				1,655,084
Total Liabilities and Stockholders' Equity		$	3,307,516			$	3,318,417

Prestige Consumer Healthcare Inc.
Condensed Consolidated Statements of Cash Flows
(Unaudited)
		Three Months Ended June 30,
(In thousands)			2024				2023
Operating Activities
Net income		$	49,068			$	53,276
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			8,124				7,543
Loss on disposal of property and equipment			5				—
Deferred and other income taxes			612				4,272
Amortization of debt origination costs			454				983
Stock-based compensation costs			3,425				4,146
Non-cash operating lease cost			1,706				1,244
Changes in operating assets and liabilities:
Accounts receivable			6,368				5,632
Inventories			(13,048	)			(7,711	)
Prepaid expenses and other current assets			2,359				(5,181	)
Accounts payable			591				(5,599	)
Accrued liabilities			(2,061	)			(8,519	)
Operating lease liabilities			(1,883	)			(1,745	)
Other			(944	)			(254	)
Net cash provided by operating activities			54,776				48,087
Investing Activities
Purchases of property, plant and equipment			(1,152	)			(1,477	)
Other			(978	)			3,800
Net cash (used in) provided by investing activities			(2,130	)			2,323
Financing Activities
Term loan repayments			(35,000	)			(30,000	)
Payments of finance leases			(720	)			(699	)
Proceeds from exercise of stock options			1,975				7,028
Fair value of shares surrendered as payment of tax withholding			(5,801	)			(5,508	)
Repurchase of common stock			(25,976	)			(25,000	)
Net cash used in financing activities			(65,522	)			(54,179	)
Effects of exchange rate changes on cash and cash equivalents			663				(140	)
Decrease in cash and cash equivalents			(12,213	)			(3,909	)
Cash and cash equivalents – beginning of period			46,469				58,489
Cash and cash equivalents – end of period		$	34,256			$	54,580
Interest paid		$	13,670			$	17,582
Income taxes paid		$	3,661			$	11,964

Prestige Consumer Healthcare Inc.
Condensed Consolidated Statements of Income
Business Segments
(Unaudited)
		Three Months Ended June 30, 2024
(In thousands)		North American OTC Healthcare				International OTC Healthcare				Consolidated
Total segment revenues*		$	232,316			$	34,826			$	267,142
Cost of sales			105,559				15,561				121,120
Gross profit			126,757				19,265				146,022
Advertising and marketing			33,753				5,612				39,365
Contribution margin		$	93,004			$	13,653			$	106,657
Other operating expenses											34,611
Operating income										$	72,046
*Intersegment revenues of $0.7 million were eliminated from the North American OTC Healthcare segment.

		Three Months Ended June 30, 2023
(In thousands)		North American OTC Healthcare				International OTC Healthcare				Consolidated
Total segment revenues*		$	246,143			$	33,166			$	279,309
Cost of sales			110,076				14,560				124,636
Gross profit			136,067				18,606				154,673
Advertising and marketing			31,401				4,830				36,231
Contribution margin		$	104,666			$	13,776			$	118,442
Other operating expenses											33,248
Operating income										$	85,194
*Intersegment revenues of $1.4 million were eliminated from the North American OTC Healthcare segment.

About Non-GAAP Financial Measures

In addition to financial results reported in accordance with GAAP, we disclose certain Non-GAAP financial measures ("NGFMs"), including, but not limited to, Non-GAAP Organic Revenues, Non-GAAP Organic Revenue Change Percentage, Non-GAAP EBITDA, Non-GAAP EBITDA Margin, Non-GAAP Adjusted Net Income, Non-GAAP Adjusted Diluted EPS, Non-GAAP Free Cash Flow, and Net Debt. We use these NGFMs internally, along with GAAP information, in evaluating our operating performance and in making financial and operational decisions. We believe that the presentation of these NGFMs provides investors with greater transparency, and provides a more complete understanding of our business than could be obtained absent these disclosures, because the supplemental data relating to our financial condition and results of operations provides additional ways to view our operation when considered with both our GAAP results and the reconciliations below. In addition, we believe that the presentation of each of these NGFMs is useful to investors for period-to-period comparisons of results in assessing shareholder value, and we use these NGFMs internally to evaluate the performance of our personnel and also to evaluate our operating performance and compare our performance to that of our competitors.

These NGFMs are not in accordance with GAAP, should not be considered as a measure of profitability or liquidity, and may not be directly comparable to similarly titled NGFMs reported by other companies. These NGFMs have limitations and they should not be considered in isolation from or as an alternative to their most closely related GAAP measures reconciled below. Investors should not rely on any single financial measure when evaluating our business. We recommend investors review the GAAP financial measures included in this earnings release. When viewed in conjunction with our GAAP results and the reconciliations below, we believe these NGFMs provide greater transparency and a more complete understanding of factors affecting our business than GAAP measures alone.

NGFMs Defined

We define our NGFMs presented herein as follows:

• Non-GAAP Organic Revenues: GAAP Total Revenues excluding the impact of foreign currency exchange rates in the periods presented.
• Non-GAAP Organic Revenue Change Percentage: Calculated as the change in Non-GAAP Organic Revenues from prior year divided by prior year Non-GAAP Organic Revenues.
• Non-GAAP EBITDA: GAAP Net Income before interest expense, net, provision for income taxes, and depreciation and amortization.
• Non-GAAP EBITDA Margin: Calculated as Non-GAAP EBITDA divided by GAAP Total Revenues.
• Non-GAAP Adjusted Net Income: GAAP Net Income before normalized tax rate adjustment.
• Non-GAAP Adjusted Diluted EPS: Calculated as Non-GAAP Adjusted Net Income, divided by the diluted

weighted average number of shares outstanding during the period.

• Non-GAAP Free Cash Flow: Calculated as GAAP Net cash provided by operating activities less cash paid for capital expenditures.
• Net Debt: Calculated as total principal amount of debt outstanding ($1,100,000 at June 30, 2024) less cash and cash equivalents ($34,256 at June 30, 2024). Amounts in thousands.

The following tables set forth the reconciliations of each of our NGFMs (other than Net Debt, which is reconciled above) to their most directly comparable financial measures presented in accordance with GAAP.

Reconciliation of GAAP Total Revenues to Non-GAAP Organic Revenues and related Non-GAAP Organic Revenue Change percentage:

		Three Months Ended June 30,
			2024				2023
(In thousands)
GAAP Total Revenues		$	267,142			$	279,309
Revenue Change			(4.4	)%
Adjustments:
Impact of foreign currency exchange rates			—				(169	)
Total adjustments			—				(169	)
Non-GAAP Organic Revenues		$	267,142			$	279,140
Non-GAAP Organic Revenue Change			(4.3	)%

Reconciliation of GAAP Net Income to Non-GAAP EBITDA and related Non-GAAP EBITDA Margin:

		Three Months Ended June 30,
			2024				2023
(In thousands)
GAAP Net Income		$	49,068			$	53,276
Interest expense, net			13,137				17,719
Provision for income taxes			9,345				15,437
Depreciation and amortization			8,124				7,543
Non-GAAP EBITDA		$	79,674			$	93,975
Non-GAAP EBITDA Margin			29.8	%			33.6	%

Reconciliation of GAAP Net Income and GAAP Diluted Earnings Per Share to Non-GAAP Adjusted Net Income and related Non-GAAP Adjusted Diluted Earnings Per Share:

		Three Months Ended June 30,
			2024			2024 Diluted EPS					2023			2023 Diluted EPS
(In thousands, except per share data)
GAAP Net Income and Diluted EPS		$	49,068			$	0.98			$	53,276			$	1.06
Adjustments:
Normalized tax rate adjustment(1)			(4,030	)			(0.08	)			—				—
Total adjustments			(4,030	)			(0.08	)			—				—
Non-GAAP Adjusted Net Income and Adjusted Diluted EPS		$	45,038			$	0.90			$	53,276			$	1.06
(1) Income tax adjustment to adjust for discrete income tax items.

Reconciliation of GAAP Net Income to Non-GAAP Free Cash Flow:

		Three Months Ended June 30,
			2024				2023
(In thousands)
GAAP Net Income		$	49,068			$	53,276
Adjustments:
Adjustments to reconcile net income to net cash provided by operating activities as shown in the Statement of Cash Flows			14,326				18,188
Changes in operating assets and liabilities as shown in the Statement of Cash Flows			(8,618	)			(23,377	)
Total adjustments			5,708				(5,189	)
GAAP Net cash provided by operating activities			54,776				48,087
Purchases of property and equipment			(1,152	)			(1,477	)
Non-GAAP Free Cash Flow		$	53,624			$	46,610

Outlook for Fiscal Year 2025:

Reconciliation of Projected GAAP EPS to Projected Non-GAAP Adjusted EPS:

		Low				High
Projected FY'25 GAAP Diluted EPS		$	4.48			$	4.54
Adjustments:
Normalized tax rate adjustment(1)			(0.08	)			(0.08	)
Projected FY'25 Non-GAAP Adjusted Diluted EPS		$	4.40			$	4.46
(1) Income tax adjustment to adjust for discrete income tax items.

Reconciliation of Projected GAAP Net cash provided by operating activities to Projected Non-GAAP Free Cash Flow:

(In millions)
Projected FY'25 GAAP Net cash provided by operating activities		$	250
Additions to property and equipment for cash			(10	)
Projected FY'25 Non-GAAP Free Cash Flow		$	240

Investor Relations Contact
Phil Terpolilli, CFA, 914-524-6819
irinquiries@prestigebrands.com

FAQ

What was Prestige Consumer Healthcare's revenue for Q1 fiscal 2025?

Prestige Consumer Healthcare reported revenue of $267.1 million for Q1 fiscal 2025, down 4.4% from $279.3 million in the same quarter last year.

How did Prestige Consumer Healthcare's (PBH) EPS compare to the previous year?

Prestige Consumer Healthcare's EPS for Q1 fiscal 2025 was $0.98, and adjusted EPS was $0.90, compared to $1.06 in the prior year's first quarter.

What is Prestige Consumer Healthcare's (PBH) revenue outlook for fiscal 2025?

Prestige Consumer Healthcare reaffirmed its fiscal 2025 revenue outlook, expecting revenue between $1,125 to $1,140 million with organic revenue growth of approximately 1%.

How much debt did Prestige Consumer Healthcare (PBH) reduce in Q1 fiscal 2025?

Prestige Consumer Healthcare reduced its debt by $35 million in Q1 fiscal 2025.

What was Prestige Consumer Healthcare's (PBH) free cash flow in Q1 fiscal 2025?

Prestige Consumer Healthcare reported free cash flow of $53.6 million in Q1 fiscal 2025, an increase from $46.6 million in the prior year's first quarter.