Prestige Consumer Healthcare (PBH) 27th Annual ICR Conference 2025, summary

Capital allocation and financial position

• Paid off term loan in full, now relying on attractively priced bond tranches.

• Targeting $1 billion in free cash flow generation over the next four years for reinvestment and value growth.

• Focused on long-term stewardship and brand building using strong cash flow.

Margin performance and business resilience

• Maintains EBITDA margins in the low to mid-30% range, even during COVID disruptions.

• Gross margin for the year is approximately 56%, supported by cost improvements, pricing, and innovation.

• Stable top-line performance due to consumer need-based products.

Category exposure and seasonal trends

• Cough and cold products represent 7%-8% of total sales, less than industry peers.

• Soft cough and cold season has had limited impact due to smaller category exposure.

• Australian business provides additional perspective on category trends.