Wed, May 15, 11:02 AM (72 days ago)
Prestige Consumer Healthcare Inc. (PBH) filed its annual report for the fiscal year ended March 31, 2024. The report highlights the company's financial performance, strategic initiatives, and future outlook. Key points include: **Financial Performance:** - **Revenue:** Total segment revenues were $1,125.4 million, a slight decrease of 0.2% from the previous year. - **Net Income:** The company reported a net income of $208.7 million, improving from a net loss of $81.8 million in 2023, primarily due to reduced impairment charges. - **Operating Expenses:** General and administrative expenses decreased to $106.2 million from $107.4 million. Depreciation and amortization expenses also fell to $22.6 million from $25.1 million. - **Earnings Per Share:** Improved due to increased net income. **Segments:** - **North American OTC Healthcare:** Revenues decreased by 1.6% to $958.3 million. - **International OTC Healthcare:** Revenues increased by 8.5% to $167.1 million. **Strategic Overview:** - Focus on brand development, product innovation, and expansion in international markets. - Continued investment in advertising and marketing to drive growth. **Future Outlook:** - Expectation of continued economic volatility and rising costs due to supply chain disruptions and inflation. - Confidence in meeting financial covenants and maintaining liquidity through cash flow from operations and existing credit facilities. **Risk Factors:** - High competition, dependency on third-party manufacturers, and economic uncertainties. - Regulatory compliance and cybersecurity threats. **Financial Condition:** - Total indebtedness of $1.1 billion, with a mix of variable and fixed-rate debt. - Strong cash flow from operations at $248.9 million. **Market Position:** - Strong presence in the OTC healthcare market with well-recognized brands. Overall, Prestige Consumer Healthcare Inc. remains focused on leveraging its brand strength and market position to navigate economic challenges and drive future growth.