Prestige Consumer Healthcare Inc. Reports Third Quarter Fiscal 2024 Results
- Revenue of $282.7 million in Q3, up 2.6% versus the prior year
- Diluted EPS of $1.06 in Q3, up 2.2% versus the prior year
- Raised full-year fiscal 2024 earnings outlook to approximately $4.33
- Reduced leverage ratio to 2.9x at quarter end
- Significant increase in net cash provided by operating activities and non-GAAP free cash flow in Q3 and the first nine months of fiscal 2024
- Flat revenues for North American OTC Healthcare segment and a 10% increase in revenues for the International OTC Healthcare segment in Q3 2024
- None.
Insights
The reported increase in revenue and diluted earnings per share (EPS) for Prestige Consumer Healthcare indicates a modest growth trajectory. The revenue upsurge of 2.6% and the EPS improvement of 2.2% in Q3, alongside the reduced leverage ratio to 2.9x, reflect a stable financial position. The company's ability to surpass its revenue and earnings expectations suggests effective management and operational efficiency. Notably, the strategic exit from private label revenues, while potentially reducing top-line revenue, seems to have a net positive effect on profitability, as evidenced by the increase in net income.
The raised full-year fiscal 2024 earnings outlook, with EPS now expected to be approximately $4.33, signals confidence in continued financial health. This adjustment is likely to be interpreted positively by the market, potentially influencing stock performance. However, investors should consider the company's reliance on specific product categories, such as Eye & Ear Care and the international performance of the Hydralyte® brand, which could introduce risks associated with product concentration and market dynamics.
The performance of Prestige Consumer Healthcare's Eye & Ear Care and Hydralyte® brands highlights the importance of product innovation and marketing in driving growth within the over-the-counter (OTC) healthcare sector. The company's focus on these areas has likely contributed to its solid international segment performance, which is particularly noteworthy given the broader challenges in the global market, such as currency fluctuations. The strategic shift away from private label business is an interesting move that suggests a focus on brand strength and margin improvement.
Investors should monitor consumer trends and regulatory changes in the healthcare market, as these can significantly impact the company's product categories. The reported free cash flow increase underscores the company's operational effectiveness and may provide capital for future investments or shareholder returns, which could be a decisive factor for long-term value creation.
The reduction in net debt and the improvement in the leverage ratio to 2.9x are critical indicators of Prestige Consumer Healthcare's financial prudence and creditworthiness. A leverage ratio under 3x is often considered acceptable in many industries, suggesting that the company is not overly reliant on debt financing. This could lead to a more favorable view from creditors and potentially lower borrowing costs in the future.
However, stakeholders should also consider the context of the industry and the economic environment when evaluating this metric. The company's ability to generate strong free cash flow and its disciplined capital deployment strategy, including share repurchases, are likely to be viewed positively by debt holders, as these actions can lead to a stronger balance sheet and reduced financial risk.
- Revenue of
$282.7 Million in Q3, Up2.6% Versus Prior Year - Diluted EPS of
$1.06 in Q3, Up2.2% Versus Prior Year - Reduced Leverage Ratio to 2.9x at Quarter End
- Raising Full-Year Fiscal 2024 Earnings Outlook to Approximately
$4.33
TARRYTOWN, N.Y., Feb. 08, 2024 (GLOBE NEWSWIRE) -- Prestige Consumer Healthcare Inc. (NYSE:PBH) today reported financial results for its third quarter and first nine months ended December 31, 2023.
“We are pleased with our continued strong results that exceeded our revenue and earnings expectations for the quarter. Solid revenue growth of nearly
Third Fiscal Quarter Ended December 31, 2023
Reported revenues in the third quarter of fiscal 2024 of
Reported net income for the third quarter of fiscal 2024 totaled
Nine Months Ended December 31, 2023
Reported revenues for the first nine months of fiscal 2024 totaled
Reported net income for the first nine months of fiscal 2024 totaled
Free Cash Flow and Balance Sheet
The Company's net cash provided by operating activities for the third quarter fiscal 2024 was
In the first quarter fiscal 2024, the Company repurchased approximately 0.4 million shares at a total investment of
The Company's net debt position as of December 31, 2023 was approximately
Segment Review
North American OTC Healthcare: Segment revenues of
For the first nine months of the current fiscal year, reported revenues for the North American segment were
International OTC Healthcare: Fiscal third quarter 2024 segment revenues were
For the first nine months of the current fiscal year, reported revenues for the International Healthcare segment were
Commentary and Updated Outlook for Fiscal 2024
Ron Lombardi, Chief Executive Officer, stated, “Our continued top-line momentum delivered solid growth led by our Eye & Ear Care category brands Clear Eyes®, TheraTears®, and Debrox® in North America and the Hydralyte® brand in our International segment. The resulting strong profitability and free cash flow enabled our continued disciplined capital deployment, which reduced debt by
“Given the strong Q3 performance, we are raising our fiscal 2024 earnings outlook. We continue to anticipate revenues of
| Prior Fiscal 2024 Outlook | Current Fiscal 2024 Outlook | |
| Revenue | ||
| Organic Revenue Growth | ||
| Diluted E.P.S. | Approximately | |
| Free Cash Flow |
Fiscal Third Quarter 2024 Conference Call, Accompanying Slide Presentation and Replay
The Company will host a conference call to review its third quarter fiscal 2024 results today, February 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 U.S. 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 "outlook," "projected," "may," "will," "would," "expect," "anticipate," 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, 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 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, 2023 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 December 31, | Nine Months Ended December 31, | ||||||||||||
| (In thousands, except per share data) | 2023 | 2022 | 2023 | 2022 | |||||||||
| Total Revenues | $ | 282,741 | $ | 275,524 | $ | 848,366 | $ | 841,856 | |||||
| Cost of Sales | |||||||||||||
| Cost of sales excluding depreciation | 122,794 | 123,251 | 369,772 | 364,631 | |||||||||
| Cost of sales depreciation | 2,009 | 1,871 | 5,963 | 5,695 | |||||||||
| Cost of sales | 124,803 | 125,122 | 375,735 | 370,326 | |||||||||
| Gross profit | 157,938 | 150,402 | 472,631 | 471,530 | |||||||||
| Operating Expenses | |||||||||||||
| Advertising and marketing | 39,466 | 30,423 | 115,799 | 114,193 | |||||||||
| General and administrative | 26,003 | 26,536 | 79,687 | 79,688 | |||||||||
| Depreciation and amortization | 5,637 | 6,259 | 16,869 | 19,067 | |||||||||
| Total operating expenses | 71,106 | 63,218 | 212,355 | 212,948 | |||||||||
| Operating income | 86,832 | 87,184 | 260,276 | 258,582 | |||||||||
| Other expense | |||||||||||||
| Interest expense, net | 16,575 | 17,917 | 51,900 | 50,188 | |||||||||
| Other expense (income), net | 682 | 1,150 | (327 | ) | 2,787 | ||||||||
| Total other expense, net | 17,257 | 19,067 | 51,573 | 52,975 | |||||||||
| Income before income taxes | 69,575 | 68,117 | 208,703 | 205,607 | |||||||||
| Provision for income taxes | 16,529 | 16,166 | 48,822 | 47,361 | |||||||||
| Net income | $ | 53,046 | $ | 51,951 | $ | 159,881 | $ | 158,246 | |||||
| Earnings per share: | |||||||||||||
| Basic | $ | 1.07 | $ | 1.05 | $ | 3.21 | $ | 3.17 | |||||
| Diluted | $ | 1.06 | $ | 1.04 | $ | 3.19 | $ | 3.14 | |||||
| Weighted average shares outstanding: | |||||||||||||
| Basic | 49,740 | 49,693 | 49,731 | 49,919 | |||||||||
| Diluted | 50,125 | 50,186 | 50,134 | 50,392 | |||||||||
| Comprehensive income, net of tax: | |||||||||||||
| Currency translation adjustments | 7,465 | 6,970 | 3,035 | (9,667 | ) | ||||||||
| Net loss on termination of pension plan | — | — | — | (790 | ) | ||||||||
| Total other comprehensive income (loss) | 7,465 | 6,970 | 3,035 | (10,457 | ) | ||||||||
| Comprehensive income | $ | 60,511 | $ | 58,921 | $ | 162,916 | $ | 147,789 | |||||
Prestige Consumer Healthcare Inc.
Condensed Consolidated Balance Sheets
(Unaudited)
| (In thousands) | December 31, 2023 | March 31, 2023 | |||
| Assets | |||||
| Current assets | |||||
| Cash and cash equivalents | $ | 63,615 | $ | 58,489 | |
| Accounts receivable, net of allowance of | 174,288 | 167,016 | |||
| Inventories | 148,637 | 162,121 | |||
| Prepaid expenses and other current assets | 7,246 | 4,117 | |||
| Total current assets | 393,786 | 391,743 | |||
| Property, plant and equipment, net | 70,356 | 70,412 | |||
| Operating lease right-of-use assets | 10,695 | 14,923 | |||
| Finance lease right-of-use assets, net | 2,206 | 4,200 | |||
| Goodwill | 527,878 | 527,553 | |||
| Intangible assets, net | 2,328,529 | 2,341,893 | |||
| Other long-term assets | 6,303 | 3,005 | |||
| Total Assets | $ | 3,339,753 | $ | 3,353,729 | |
| Liabilities and Stockholders' Equity | |||||
| Current liabilities | |||||
| Accounts payable | 39,339 | 62,743 | |||
| Accrued interest payable | 15,197 | 15,688 | |||
| Operating lease liabilities, current portion | 5,650 | 6,926 | |||
| Finance lease liabilities, current portion | 2,188 | 2,834 | |||
| Other accrued liabilities | 65,063 | 72,524 | |||
| Total current liabilities | 127,437 | 160,715 | |||
| Long-term debt, net | 1,199,340 | 1,345,788 | |||
| Deferred income tax liabilities | 397,147 | 380,434 | |||
| Long-term operating lease liabilities, net of current portion | 6,138 | 9,876 | |||
| Long-term finance lease liabilities, net of current portion | 195 | 1,667 | |||
| Other long-term liabilities | 8,919 | 8,165 | |||
| Total Liabilities | 1,739,176 | 1,906,645 | |||
| Total Stockholders' Equity | 1,600,577 | 1,447,084 | |||
| Total Liabilities and Stockholders' Equity | $ | 3,339,753 | $ | 3,353,729 | |
Prestige Consumer Healthcare Inc.
Condensed Consolidated Statements of Cash Flows
(Unaudited)
| Nine Months Ended December 31, | |||||||
| (In thousands) | 2023 | 2022 | |||||
| Operating Activities | |||||||
| Net income | $ | 159,881 | $ | 158,246 | |||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 22,832 | 24,762 | |||||
| Loss on disposal of property and equipment | 231 | 171 | |||||
| Deferred income taxes | 14,892 | 14,021 | |||||
| Amortization of debt origination costs | 3,726 | 2,613 | |||||
| Stock-based compensation costs | 10,283 | 9,756 | |||||
| Non-cash operating lease cost | 4,494 | 4,697 | |||||
| Other | — | 447 | |||||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable | (7,017 | ) | (17,078 | ) | |||
| Inventories | 13,790 | (38,587 | ) | ||||
| Prepaid expenses and other current assets | (2,605 | ) | (596 | ) | |||
| Accounts payable | (23,964 | ) | 8,892 | ||||
| Accrued liabilities | (7,732 | ) | 8,345 | ||||
| Operating lease liabilities | (5,259 | ) | (4,941 | ) | |||
| Other | (1,533 | ) | (19 | ) | |||
| Net cash provided by operating activities | 182,019 | 170,729 | |||||
| Investing Activities | |||||||
| Purchases of property, plant and equipment | (6,407 | ) | (5,226 | ) | |||
| Other | 1,300 | — | |||||
| Net cash used in investing activities | (5,107 | ) | (5,226 | ) | |||
| Financing Activities | |||||||
| Term loan repayments | (150,000 | ) | (55,000 | ) | |||
| Borrowings under revolving credit agreement | — | 20,000 | |||||
| Repayments under revolving credit agreement | — | (20,000 | ) | ||||
| Payments of debt costs | (769 | ) | — | ||||
| Payments of finance leases | (2,112 | ) | (2,058 | ) | |||
| Proceeds from exercise of stock options | 10,818 | 7,173 | |||||
| Fair value of shares surrendered as payment of tax withholding | (5,508 | ) | (5,466 | ) | |||
| Repurchase of common stock | (25,000 | ) | (50,000 | ) | |||
| Net cash used in financing activities | (172,571 | ) | (105,351 | ) | |||
| Effects of exchange rate changes on cash and cash equivalents | 785 | (979 | ) | ||||
| Increase in cash and cash equivalents | 5,126 | 59,173 | |||||
| Cash and cash equivalents - beginning of period | 58,489 | 27,185 | |||||
| Cash and cash equivalents - end of period | $ | 63,615 | $ | 86,358 | |||
| Interest paid | $ | 49,666 | $ | 36,716 | |||
| Income taxes paid | $ | 38,606 | $ | 27,632 | |||
Prestige Consumer Healthcare Inc.
Condensed Consolidated Statements of Income
Business Segments
(Unaudited)
| Three Months Ended December 31, 2023 | ||||||||
| (In thousands) | North American OTC Healthcare | International OTC Healthcare | Consolidated | |||||
| Total segment revenues* | $ | 236,565 | $ | 46,176 | $ | 282,741 | ||
| Cost of sales | 106,090 | 18,713 | 124,803 | |||||
| Gross profit | 130,475 | 27,463 | 157,938 | |||||
| Advertising and marketing | 33,917 | 5,549 | 39,466 | |||||
| Contribution margin | $ | 96,558 | $ | 21,914 | $ | 118,472 | ||
| Other operating expenses | 31,640 | |||||||
| Operating income | $ | 86,832 | ||||||
*Intersegment revenues of
| Nine Months Ended December 31, 2023 | ||||||||
| (In thousands) | North American OTC Healthcare | International OTC Healthcare | Consolidated | |||||
| Total segment revenues* | $ | 727,131 | $ | 121,235 | $ | 848,366 | ||
| Cost of sales | 323,632 | 52,103 | 375,735 | |||||
| Gross profit | 403,499 | 69,132 | 472,631 | |||||
| Advertising and marketing | 100,707 | 15,092 | 115,799 | |||||
| Contribution margin | $ | 302,792 | $ | 54,040 | $ | 356,832 | ||
| Other operating expenses | 96,556 | |||||||
| Operating income | $ | 260,276 | ||||||
*Intersegment revenues of
| Three Months Ended December 31, 2022 | ||||||||
| (In thousands) | North American OTC Healthcare | International OTC Healthcare | Consolidated | |||||
| Total segment revenues* | $ | 236,884 | $ | 38,640 | $ | 275,524 | ||
| Cost of sales | 110,554 | 14,568 | 125,122 | |||||
| Gross profit | 126,330 | 24,072 | 150,402 | |||||
| Advertising and marketing | 24,831 | 5,592 | 30,423 | |||||
| Contribution margin | $ | 101,499 | $ | 18,480 | $ | 119,979 | ||
| Other operating expenses | 32,795 | |||||||
| Operating income | $ | 87,184 | ||||||
*Intersegment revenues of
| Nine Months Ended December 31, 2022 | ||||||||
| (In thousands) | North American OTC Healthcare | International OTC Healthcare | Consolidated | |||||
| Total segment revenues* | $ | 731,456 | $ | 110,400 | $ | 841,856 | ||
| Cost of sales | 327,008 | 43,318 | 370,326 | |||||
| Gross profit | 404,448 | 67,082 | 471,530 | |||||
| Advertising and marketing | 99,559 | 14,634 | 114,193 | |||||
| Contribution margin | $ | 304,889 | $ | 52,448 | $ | 357,337 | ||
| Other operating expenses | 98,755 | |||||||
| Operating income | $ | 258,582 | ||||||
*Intersegment revenues of
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 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 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 (
$1,210,000 at December 31, 2023) less cash and cash equivalents ($63,615 at December 31, 2023). 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 December 31, | Nine Months Ended December 31, | |||||||||||||
| 2023 | 2022 | 2023 | 2022 | |||||||||||
| (In thousands) | ||||||||||||||
| GAAP Total Revenues | $ | 282,741 | $ | 275,524 | $ | 848,366 | $ | 841,856 | ||||||
| Revenue Change | 2.6 | % | 0.8 | % | ||||||||||
| Adjustments: | ||||||||||||||
| Impact of foreign currency exchange rates | — | 55 | — | (3,704 | ) | |||||||||
| Total adjustments | — | 55 | — | (3,704 | ) | |||||||||
| Non-GAAP Organic Revenues | $ | 282,741 | $ | 275,579 | $ | 848,366 | $ | 838,152 | ||||||
| Non-GAAP Organic Revenue Change | 2.6 | % | 1.2 | % | ||||||||||
Reconciliation of GAAP Net Income to Non-GAAP EBITDA and related Non-GAAP EBITDA Margin:
| Three Months Ended December 31, | Nine Months Ended December 31, | ||||||||||||||
| 2023 | 2022 | 2023 | 2022 | ||||||||||||
| (In thousands) | |||||||||||||||
| GAAP Net Income | $ | 53,046 | $ | 51,951 | $ | 159,881 | $ | 158,246 | |||||||
| Interest expense, net | 16,575 | 17,917 | 51,900 | 50,188 | |||||||||||
| Provision for income taxes | 16,529 | 16,166 | 48,822 | 47,361 | |||||||||||
| Depreciation and amortization | 7,646 | 8,130 | 22,832 | 24,762 | |||||||||||
| Non-GAAP EBITDA | $ | 93,796 | $ | 94,164 | $ | 283,435 | $ | 280,557 | |||||||
| Non-GAAP EBITDA Margin | 33.2 | % | 34.2 | % | 33.4 | % | 33.3 | % | |||||||
Reconciliation of GAAP Net Income to Non-GAAP Free Cash Flow:
| Three Months Ended December 31, | Nine Months Ended December 31, | ||||||||||||||
| 2023 | 2022 | 2023 | 2022 | ||||||||||||
| (In thousands) | |||||||||||||||
| GAAP Net Income | $ | 53,046 | $ | 51,951 | $ | 159,881 | $ | 158,246 | |||||||
| Adjustments: | |||||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities as shown in the Statement of Cash Flows | 18,408 | 22,978 | 56,458 | 56,467 | |||||||||||
| Changes in operating assets and liabilities as shown in the Statement of Cash Flows | 18 | (19,987 | ) | (34,320 | ) | (43,984 | ) | ||||||||
| Total adjustments | 18,426 | 2,991 | 22,138 | 12,483 | |||||||||||
| GAAP Net cash provided by operating activities | 71,472 | 54,942 | 182,019 | 170,729 | |||||||||||
| Purchases of property and equipment | (1,996 | ) | (1,803 | ) | (6,407 | ) | (5,226 | ) | |||||||
| Non-GAAP Free Cash Flow | $ | 69,476 | $ | 53,139 | $ | 175,612 | $ | 165,503 | |||||||
Outlook for Fiscal Year 2024:
Reconciliation of Projected GAAP Net cash provided by operating activities to Projected Non-GAAP Free Cash Flow:
| (In millions) | |||
| Projected FY'24 GAAP Net cash provided by operating activities | $ | 250 | |
| Additions to property and equipment for cash | (10 | ) | |
| Projected FY'24 Non-GAAP Free Cash Flow | $ | 240 | |
FAQ
What is the revenue reported by Prestige Consumer Healthcare Inc. (NYSE:PBH) in Q3?
What is the diluted EPS reported by Prestige Consumer Healthcare Inc. (NYSE:PBH) in Q3?
What is the full-year fiscal 2024 earnings outlook raised to by Prestige Consumer Healthcare Inc. (NYSE:PBH)?
What is the leverage ratio at the end of the quarter reported by Prestige Consumer Healthcare Inc. (NYSE:PBH)?
What is the change in net cash provided by operating activities in Q3 for Prestige Consumer Healthcare Inc. (NYSE:PBH)?
