Prestige Brands (NYSE: PBH) reported Q1 EPS of $0.86, $0.16 better than the analyst estimate of $0.70. Revenue for the quarter came in at $229.4 million versus the consensus estimate of $221.32 million.

Commentary and Outlook for Fiscal 2021:

Ron Lombardi, Chief Executive Officer, stated, “We delivered a strong start to the fiscal year, which included first quarter revenues better than anticipated owing to strength from our ongoing brand-building efforts and significant growth in eCommerce channel sales stemming from our long-term investments. The first quarter also experienced strong earnings and free cash flow that were driven by strong EBITDA and the benefit of our disciplined capital allocation strategy over the last year. We reduced debt by $111 million in the first quarter, which resulted in 4.4x leverage, close to the mid-point of our targeted long-term leverage range.”

“As we look forward in the near-term we anticipate revenues in Q2 of $225 million or more. This outlook is driven by continued changes in consumer behaviors and disruptions in certain channels stemming from the COVID-19 virus, which has affected demand in certain categories that we compete in. Despite these challenges, we remain focused on brand-building and maintaining or growing market share across our portfolio of core brands, many of which have unique opportunities for investment in the current environment. Meanwhile, we anticipate Q2 EPS of $0.70 or more, an increase from the prior year, thanks to our disciplined cost management, leading financial profile and benefits of our capital allocation strategy” he continued.

“We continue to refrain from offering full-year guidance given the uncertainties ahead, but we are confident in our sound Company and business strategy that positions us well to withstand these challenges as evidenced in our results announced today. Our leading brand-building efforts, financial profile and disciplined capital allocation approach will enable us to focus on long-term top- and bottom-line growth prospects that position us for continued success,” he concluded.

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