Company Reports

Prestige Consumer Healthcare delivered a 6.5% increase in sales (3.2% organic) and $0.98 adjusted diluted EPS, up 3%, during the first fiscal quarter of 2027. Both figures were above FactSet consensus. Raised guidance reflects Breathe Right and LaCorium acquisitions. Shares traded flat on Aug. 6.

Prestige Consumer Healthcare reported a 5% decline in sales during the fourth fiscal quarter, missing FactSet consensus. Full-year adjusted EPS of $4.38 was down 3% and missed guidance by 4%. Shares traded down 12% on the results.

Prestige Consumer Healthcare is a pure-play over-the-counter healthcare player with significant exposure in the US and Australia. We expect the firm to grow through product innovations, increased household penetration, and e-commerce expansion. Once a brand gains consumer trust and starts taking share, Prestige has looked to expand indications laterally by targeting similar symptoms, thereby broadening its end markets. For example, Dramamine for a long time only played in the motion sickness space, but Prestige has spent the last number of years expanding its indication to the nausea market. While these outbreaks of categories can certainly expose Prestige to new competition, we believe it also affords the firm a new set of customers that it can win over. And given Prestige’s focus in small and niche categories, we don’t expect the company to try and compete with blockbuster brands from consumer packaged goods, or CPG, giants. Rather, we believe it will seek out adjacent categories that might be underpenetrated or composed of minor brands to displace with its recognizable brands.

Prestige reported fiscal third-quarter revenue of $283.4 million, down 2.4% year over year, and adjusted EPS of $1.14. Shares fell 2% as management guided full-year results toward the lower end of its prior range, projecting revenue of approximately $1.1 billion and adjusted EPS of $4.54.

Prestige Consumer Healthcare is a pure-play over-the-counter healthcare remedy providers with significant exposure in the US and Australia. We expect the firm to grow through product innovations, increasing household penetration, and expanding its e-commerce presence. One way Prestige has tackled product innovations is through broadening its brands’ end markets; for example, Dramamine for a long time only played in the motion sickness space, but Prestige has spent the last number of years expanding its indication to the nausea market. While these outbreaks of categories can certainly expose Prestige to new competition, we believe it also affords the firm a new set of customers that it can win over. And given Prestige’s focus in small and niche categories, we don’t expect the company to try and compete with blockbuster brands from consumer packaged goods, or CPG, giants. Rather, we believe it will seek out adjacent categories that might be underpenetrated or composed of minor brands to displace with its recognizable brands.

Prestige reported second-quarter revenue of $274.1 million, down 3.4% year over year, and adjusted EPS of $1.07. Management reaffirmed the company's full-year revenue outlook and now expects adjusted EPS to land toward the high end of the previously guided range, between $4.54 and $4.58.

Prestige reported first-quarter revenue of $249.5 million, down 6.6% year over year, with diluted earnings per share of $0.95. Management lowered its full-year revenue guidance to $1.100 billion-$1.115 billion and revised diluted EPS guidance to $4.50-$4.58, a roughly 4.5% reduction at midpoint.

Prestige Consumer Healthcare is a pure-play over-the-counter healthcare remedy providers with significant exposure in the US and Australia. We expect the firm to grow through product innovations, increasing household penetration, and expanding its e-commerce presence. One way Prestige has tackled product innovations is through broadening its brands’ end markets; for example, Dramamine for a long time only played in the motion sickness space, but Prestige has spent the last number of years expanding its indication to the nausea market. While these outbreaks of categories can certainly expose Prestige to new competition, we believe it also affords the firm a new set of customers that it can win over. And given Prestige’s focus in small and niche categories, we don’t expect the company to try and compete with blockbuster brands from consumer packaged goods, or CPG, giants. Rather, we believe it will seek out adjacent categories that might be underpenetrated or composed of minor brands to displace with its recognizable brands.

Narrow-moat Prestige Consumer Healthcare reported strong fourth-quarter results that came in slightly higher than our expectations. Total sales increased 7% year over year to $296.5 million, and adjusted diluted EPS of $1.00 was up from last year’s $0.98. This positive momentum was well received by investors, with shares climbing more than 7% following results. After updating our model and accounting for the time value of money, we are increasing our fair value estimate to $77 per share from $75.

Prestige Consumer Healthcare is a pure-play over-the-counter healthcare remedy providers with significant exposure in the US and Australia. We expect the firm to grow through product innovations, increasing household penetration, and expanding its e-commerce presence. One way Prestige has tackled product innovations is through broadening its brands’ end markets; for example, Dramamine for a long time only played in the motion sickness space, but Prestige has spent the last number of years expanding its indication to the nausea market. While these outbreaks of categories can certainly expose Prestige to new competition, we believe it also affords the firm a new set of customers that it can win over. And given Prestige’s focus in small and niche categories, we don’t expect the company to try and compete with blockbuster brands from consumer packaged goods, or CPG, giants. Rather, we believe it will seek out adjacent categories that might be underpenetrated or composed of minor brands to displace with its recognizable brands.

Narrow-moat Prestige Consumer Healthcare reported strong third-quarter results that came in slightly higher than our expectations. Total sales increased nearly 3%, reaching $290 million, fueled by robust growth in international markets and broad-based expansion across nearly all North American categories. Following this quarter's performance, management has raised its full-year 2025 revenue guidance to a range of $1.128 billion to $1.132 billion, with adjusted diluted EPS expected to be approximately $4.50. After updating our model and accounting for time value, we increase our fair value estimate to $75 per share from $70.

Prestige Consumer Healthcare is a pure-play over-the-counter healthcare remedy providers with significant exposure in the US and Australia. We expect the firm to grow through product innovations, increasing household penetration, and expanding its e-commerce presence. One way Prestige has tackled product innovations is through broadening its brands’ end markets; for example, Dramamine for a long time only played in the motion sickness space, but Prestige has spent the last number of years expanding its indication to the nausea market. While these outbreaks of categories can certainly expose Prestige to new competition, we believe it also affords the firm a new set of customers that it can win over. And given Prestige’s focus in small and niche categories, we don’t expect the company to try and compete with blockbuster brands from consumer packaged goods, or CPG, giants. Rather, we believe it will seek out adjacent categories that might be underpenetrated or composed of minor brands to displace with its recognizable brands.

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.

Prestige Consumer Healthcare is one of the largest pure-play over-the-counter healthcare providers in the US. We expect the firm to grow through product innovations, increasing household penetration, and expanding its e-commerce presence. One way Prestige has tackled product innovations is through broadening its brands’ end markets; for example, Dramamine for a long time only played in the motion sickness space, but Prestige has spent the last number of years expanding its indication to the nausea market. While these outbreaks of categories can certainly expose Prestige to new competition, we believe it also affords the firm a new set of customers that it can win over. And given Prestige’s focus in small and niche categories, we don’t expect the company to try and compete with blockbuster brands from consumer packaged goods, or CPG, giants. Rather, we believe it will seek out adjacent categories that might be underpenetrated or composed of minor brands to displace with its recognizable brands.

Narrow-moat Prestige Consumer Healthcare reported tepid first quarter earnings, starting fiscal 2025 on soft footing. Total sales of $267 million were down 4.4% year over year as the North America business sees another quarter of top-line decline. The shorter cough and cold season proved a challenge, but this was echoed among Prestige’s peers during the quarter, so we see this as a market-wide and not brand-specific issue. Clear Eyes’ supplier capacity issues continue to be a drag on the firm, but the output level continues to ramp up and management expects disruptions to be largely resolved by the end of next quarter. That being said, the eye and ear category was actually the strongest performer within North America, with sales up 9.7% due to other brands in the category fully offsetting Clear Eyes challenges. Despite today’s numbers, management reiterated full-year sales guidance of $1.125 billion-$1.140 billion, equating to flat to 1.5% sales growth, and we think this is achievable from improving capacity conditions, easier comparisons starting third quarter, and certain volume wins. We maintain our fair value estimate of $68 per share.

Narrow-moat Prestige Consumer Healthcare reported disappointing fourth-quarter earnings that were below our expectations. Total sales of $277 million were down 3.1% year over year, and adjusted diluted EPS of $1.02 was down from last year’s $1.07. Having said that, we maintain our fair value estimate of $68 per share as minor adjustments to our near-term outlook were offset by time value of money impacts. Shares were down about 6% at the time of writing from the soft outlook, and we think they now trade in a fair 3-star territory.

Prestige Consumer Healthcare is one of the largest pure-play over-the-counter healthcare providers in the US. We expect the firm to grow through product innovations, increasing household penetration, and expanding its e-commerce presence. One way Prestige has tackled product innovations is through broadening its brands’ end markets; for example, Dramamine for a long time only played in the motion sickness space, but Prestige has spent the last number of years expanding its indication to the nausea market. While these outbreaks of categories can certainly expose Prestige to new competition, we believe it also affords the firm a new set of customers that it can win over. And given Prestige’s focus in small and niche categories, we don’t expect the company to try and compete with blockbuster brands from consumer packaged goods, or CPG, giants. Rather, we believe it will seek out adjacent categories that might be underpenetrated or composed of minor brands to displace with its recognizable brands.

Prestige Consumer Healthcare reported third-quarter earnings that came in slightly higher than our expectations. Total sales were up 2.6% year over year as robust growth in the international segment proved more than enough to offset a slightly weak North America segment. After updating our model, we are maintaining our fair value estimate of $68.

Narrow-moat Prestige Consumer Healthcare reported solid second-quarter results that were in line with our expectations. Total sales were down 1% year over year, but results from second quarter last year benefited from pent-up demand from COVID-19 recovery and the firm exited certain private-label businesses during early 2023 (which accounted for about 100 basis points of total sales), so we expected difficult comparisons. That being said, demand for Prestige’s overall portfolio remains stable with eye and ear care and dermatological products as well as international markets showing good sales growth. We maintain our fair value estimate of $68 per share.

We are initiating coverage on Prestige Consumer Healthcare with a fair value estimate of $68 per share. Our forecast model has a five-year top-line compound annual growth rate of roughly 2% and a slow year-over-year ramp-up in margin.