Q4 2024 Prestige Consumer Healthcare Inc Earnings Call Transcript
Key Points
- Prestige Consumer Healthcare Inc reported strong consumption growth for the year, exceeding the long-term target of 2% to 3%.
- The company generated approximately $240 million in free cash flow as anticipated, enabling significant deleveraging to a leverage ratio of 2.8 times, the lowest in the company's history.
- Prestige Consumer Healthcare Inc maintained a diverse supply chain with over 100 third-party suppliers, which has historically provided flexibility and resilience.
- The company's portfolio remains resilient and well-positioned, benefiting from a broad range of leading brands across many categories.
- Prestige Consumer Healthcare Inc continues to invest in efficient marketing and innovation, driving long-term growth for its leading brands.
- Fourth quarter performance did not meet growth objectives, with revenue and adjusted EPS approximately flat compared to the prior year.
- Supply chain pressures late in the fourth quarter prevented the company from fulfilling retailer orders, impacting both gross margin and EBITDA.
- Significant disruptions in supply from Clear Eyes suppliers due to maintenance and quality improvements led to production limits expected to continue into the first half of the upcoming fiscal year.
- The women's health products categories faced challenges, particularly with the Summer's Eve on-the-go offerings, although improving trends are beginning.
- The company anticipates revenue and EPS outlook for the full year to be below long-term expectations due to ongoing supply chain headwinds.
Thank you for standing by. My name is Jeremy, and I will be your conference operator today. (Operator Instructions)
I would now like to turn the call over to Phil Terpolilli, Vice President of Investor Relations and Treasury. Please go ahead.
Thanks, operator, and thank you to everyone who's joined today. On the call with me are Ron Lombardi, our Chairman, President and CEO; and Christine Sacco, our CFO.
On today's call will review our fiscal 2024 results, discuss our outlook for '25 and then take questions from analysts. A slide presentation accompanies today's call can be accessed by visiting Prestige Consumer Healthcare.com, clicking on the Investors link and then on today's webcast and presentation. Remember, some of the information contained in the presentation today includes non-GAAP financial measures and reconciliations to the nearest GAAP financial measure are included in our earnings release and slide presentation.
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