Prestige Consumer Healthcare Earnings: 2025 Outlook Reaffirmed Amid Ongoing Supply Chain Constraints

Narrow-moat Prestige Consumer Healthcare reported second-quarter results that were largely in line with our expectations. Total sales of $284 million were down 90 basis points year over year as weak sales in the North America segment were partially set off by the robust sales growth in the international segment. After updating our model, we are mildly increasing our fair value estimate to $70 per share from $68.