World News: 12:00 GMT Monday 14th January 2019. [Prestige Consumer Healthcare Inc. via Globe Newswire via SPi World News]
TARRYTOWN, N.Y., Jan. 14, 2019 (GLOBE NEWSWIRE) -- Prestige Consumer Healthcare Inc. (NYSE:PBH) today updated its guidance for the third quarter and full-year fiscal 2019 in anticipation of its presentation in the 2019 ICR conference today at 10:30 a.m. ET.
The Company announced today that preliminary revenue for its fiscal 2019 third quarter ended December 31 is expected to be approximately $241.4 million. The change versus the Company’s previously discussed third quarter fiscal 2019 outlook was driven primarily by inventory reductions at certain key retailers. Further details will be provided when the Company releases third quarter fiscal 2019 earnings results on Thursday, February 7, 2019.
Based on the revised expected third quarter revenue performance as well as unfavorable foreign currency headwinds, the Company now expects total fiscal 2019 revenue of $970 to $975 million. The Company now anticipates full-year fiscal 2019 Adjusted EPS and Adjusted Free Cash Flow below its previously offered outlook, attributable to the change in expected revenue.
Ron Lombardi, CEO, stated, “Our fiscal 2019 business fundamentals continue to be stable, however third quarter performance was temporarily affected by accelerated inventory reductions at certain key retailers, causing us to lower our full-year outlook. Despite the inventory reductions, we continue to experience brand success across our portfolio driven by our long-term brand-building and portfolio evolution efforts.”
The Company will be presenting at the ICR conference on Monday, January 14, 2019 at 10:30 a.m. ET at the JW Marriott Grande Lakes in Orlando, Florida. The presentation will be webcast live and can be accessed on the Company’s website, , and will remain available as an archived replay for 90 days.
The Company plans to provide a full report of its third quarter fiscal 2019 and fiscal 2019 outlook when it reports the results of the third quarter fiscal 2019 on February 7, 2019 before the opening of the market. The Company will host a live conference call to review the results at 8:30AM ET that same morning. Callers within North America may dial 844-233-9440 to access the call about 15 minutes prior to the start of the call. The conference ID is 9491727. International callers may dial 574-990-1016 using the same conference ID. The Company will provide a live Internet webcast as well as an archived replay, which can be accessed from the Investor Relations page of . Telephonic replays will be available for two weeks following the conclusion of the live call and can be accessed at 855-859-2056 within North America and 404-537-3406 for international callers using conference ID 9491727.
The Company markets and distributes brand name over-the-counter healthcare products throughout the U.S. and Canada, Australia, and in certain other international markets. The Company’s brands include Monistat® and Summer’s Eve® women's health products, BC® and Goody's® pain relievers, Clear Eyes® eye care products, DenTek® specialty oral care products, Dramamine® motion sickness treatments, Fleet® enemas and glycerin suppositories, Chloraseptic® sore throat treatments, Compound W® wart treatments, Little Remedies® pediatric over-the-counter products, The Doctor's® NightGuard® dental protector, Efferdent® denture care products, Luden's® throat drops, Debrox® earwax remover, Gaviscon® antacid in Canada, and Hydralyte® rehydration products and the Fess® line of nasal and sinus care products in Australia. Visit the Company's website at .
(1) Represents costs related to the sale of our Household Cleaning business including (but not limited to) costs to exit or convert contractual obligations, severance, consulting costs and certain costs related to the consummation of the divestiture process such as legal and other divestiture related professional fees, net of taxes, partly offset by the gain on sale of our Household Cleaning business.
(1) Divestiture related items represent costs related to divesting of business sold including (but not limited to) taxes, costs to exit or convert contractual obligations, severance, consulting costs and certain costs related to the consummation of the divestiture process such as legal and other divestiture related professional fees.
These NGFMs are not in accordance with GAAP, should not be considered as a measure of profitability or liquidity, and may not be directly comparable to similarly titled NGFMs reported by other companies. These NGFMs have limitations and they should not be considered in isolation from or as an alternative to their most closely related GAAP measures reconciled below. Investors should not rely on any single financial measure when evaluating our business. We recommend investors review the GAAP financial measures included in this earnings release. When viewed in conjunction with our GAAP results and the reconciliations above, we believe these NGFMs provide greater transparency and a more complete understanding of factors affecting our business than GAAP measures alone.
This news release contains "forward-looking statements" within the meaning of the federal securities laws that are intended to qualify for the Safe Harbor from liability established by the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" generally can be identified by the use of forward-looking terminology such as "assumptions," "target," "guidance," “strategy,” "outlook," "plans," "projection," "may," "will," "would," "expect," "intend," "estimate," "anticipate," "believe”, "potential," or "continue" (or the negative or other derivatives of each of these terms) or similar terminology. The "forward-looking statements" include, without limitation, statements regarding the Company's expectations regarding third quarter revenues, and future operating results including revenues, adjusted earnings per share and adjusted free cash flow. These statements are based on management's estimates and assumptions with respect to future events and financial performance and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results could differ materially from those expected as a result of a variety of factors, including completion of quarter-end financial reporting processes and review, the impact of the Company’s advertising and promotional and new product development initiatives, customer inventory management initiatives, general economic and business conditions, fluctuating foreign exchange rates, consumer trends, competitive pressures, and the ability of the Company’s third party manufacturers and logistics providers and suppliers to meet demand for its products and to reduce costs. A discussion of other factors that could cause results to vary is included in the Company's Annual Report on Form 10-K for the year ended March 31, 2018 and the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2018 and other periodic reports filed with the Securities and Exchange Commission.
Prestige Consumer Healthcare Inc.Phil Terpolilli, 914-524-6819
Globe Newswire: 12:00 GMT Monday 14th January 2019
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