Prestige Consumer Healthcare (PBH) Oppenheimer's 24th Annual Virtual Consumer Growth and E-Commerce Conference summary

Strategic overview and business model

• Three-part strategy: invest in leading brands, leverage strong financial profile for capital allocation, and amplify value through M&A and share buybacks.

• Achieved lowest leverage in company history, enabling $1 billion free cash flow target over four years.

• Recent $300 million stock buyback program approved.

• Capital allocation priorities: invest in brands, pursue M&A, repurchase shares, and deleverage.

• M&A criteria remain disciplined, focusing on leading brands in niche markets and strong ROIC.

Operational updates and supply chain

• Eye care supply chain impacted by dual provider upgrades, causing temporary lower output.

• Output recovery expected; supply chain issues viewed as transitory.

• Mitigation includes dual sourcing, safety stock, supplier audits, and regular KPI reviews.

• No long-term share loss expected; brand loyalty in eye care remains high.

Portfolio performance and category insights

• Monistat stabilized and expected to return to historical growth in 2025.

• Summer's Eve repositioned back to odor and hygiene focus, with new products showing strong retail performance.

• Brand stabilization for Summer's Eve targeted for second half of the year.

• Hydralyte, Dramamine, Nix, and Compound W identified as recent high-growth brands.