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Prestige Brands (PBH) Tops Q3 EPS by 4c, Revenues Beat; Raises FY21 EPS/Revenue Guidance

February 4, 2021 6:18 AM EST

Prestige Brands (NYSE: PBH) reported Q3 EPS of $0.81, $0.04 better than the analyst estimate of $0.77. Revenue for the quarter came in at $238.8 million versus the consensus estimate of $231.48 million.

  • Revenue was $238.8 Million in Third Quarter Fiscal 2021
  • Diluted EPS of $0.81 in Third Quarter Fiscal 2021
  • Net Cash Provided by Operating Activities for First Nine Months of Fiscal 2021 Increased 10% to $176.5 million
  • Raising Full-Year Fiscal 2021 Outlook for Revenue and Earnings Per Share

“Our third quarter and year-to-date performance continues to reflect the many benefits of our leading and diverse portfolio of brands and our broad distribution. As expected, our diversification helped offset the declines in certain categories due to changes in consumer behavior resulting from COVID-19. Our proven business strategy translated stable revenue performance into solid earnings and cash flow growth year-to-date and is enabling us to raise our full fiscal 2021 outlook for sales and earnings,” said Ron Lombardi, Chief Executive Officer of Prestige Consumer Healthcare.

GUIDANCE:

Prestige Brands sees FY2021 EPS of $3.22, versus the consensus of ($2.10). Prestige Brands sees FY2021 revenue of $935 million, versus the consensus of $1180 million.

Commentary and Outlook for Fiscal 2021

Ron Lombardi, Chief Executive Officer, stated, “We are pleased with our results through the first nine months of fiscal ’21. Our long-term brand and channel investments, as well as the power of a diversified portfolio, enabled us to win market share in many of our key categories and drove triple-digit eCommerce growth. These continued successful investments largely offset consumer behaviors stemming from the COVID-19 virus affecting demand in certain categories like cough & cold, motion sickness and head lice. Meanwhile, our financial profile and disciplined capital allocation strategy have enabled EPS, EBITDA, and free cash flow growth year-to-date during this very unique environment.”

“Our solid operating results and performance to date are enabling us to raise our revenue and EPS outlook for full-year fiscal 2021. The revenue update to approximately $935 million reflects a continuation of domestic trends we’ve experienced year-to-date, as well as a continued improvement in the International segment that we experienced as the third quarter progressed. We expect our strong and stable operating profile to leverage our revenues and drive high-single-digit earnings growth for fiscal 2021,” he continued.

“As we move forward, the business continues to perform well and is positioned solidly for fiscal 2022. We anticipate our ongoing brand-building strategy to drive significant value for our portfolio as we begin to lap COVID-impacted periods of the prior year. Meanwhile we anticipate our robust financial profile, enhanced by our disciplined capital deployment strategy, to continue creating long-term value for our stakeholders. These attributes keep us well positioned to deliver our long-term growth strategy, regardless of the operating environment,” Mr. Lombardi concluded.

For earnings history and earnings-related data on Prestige Brands (PBH) click here.



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