- The stock price of Prestige Consumer Healthcare Inc (NYSE: PBH) fell by 7.06% this past week. This is why.
The stock price of Prestige Consumer Healthcare Inc (NYSE: PBH) fell by 7.06% this past week.
Why: Prestige Brands (NYSE: PBH) reported a Q3 EPS of $1.04, which was $0.03 higher than a consensus of $1.01. And the revenue for the quarter was $275.5 million compared to a consensus of $273.72 million.
KEY QUOTES:
“Our third quarter marked another period of successful execution against our long-term three-pillar strategy, with solid top-line revenue organic growth of approximately 2% and mid-single-digit earnings growth. The strong sales performance was driven by strength in our international segment and the Cough & Cold category and resulted in cash flow generation that enabled us to continue investing in our business while reducing our leverage to the lowest level in over 10 years. These investments included increasing our inventory levels during the quarter in order to improve service levels to our customers and positions us for continued growth in fiscal 2024.”
“With one quarter to go in fiscal year 2023 we anticipate sales between $1,120 and $1,122 equating to over 3% growth on top of our record fiscal 2022 results. Looking ahead, our proven business strategy, portfolio positioning, and improvements in our service levels have us well positioned for further revenue, earnings, and free cash flow growth in fiscal 2024.”
— Ron Lombardi, Chief Executive Officer
