Prestige Consumer Healthcare exceeded sales and earnings expectations in its fiscal first quarter and raised its full-year adjusted diluted EPS guidance to $4.55-$4.65 and adjusted free cash flow guidance to $270 million or more. Total sales increased 6.5% to approximately $266 million, and the company delivered a record quarterly adjusted free cash flow of $83.7 million. The recently acquired Breathe Right portfolio is largely integrated and expected to contribute approximately $200 million in annual revenue, while the Breathe Right and Lacorium Health acquisitions together are projected to add more than 20% to the annualized revenue base. Management noted that the acquisitions are expected to add about 3 points of EPS growth for the year, though near-term EPS accretion from Breathe Right will be slightly below the annualized rate due to timing factors. The company also reported strong consumption growth in key categories such as GI and skin care, as well as robust double-digit growth in e-commerce.
Prestige Brand Holdings IncRecord quarter, raised EPS and cash flow guidance, and acquisitions expected to add EPS growth.
