Prestige Consumer Healthcare (PBH) FY2023 results: revenue $1.1 billion, up 3.8% on the year

Prestige Consumer Healthcare Inc. (PBH) reported revenue of $1.1 billion for fiscal 2023, the year ended 31 March 2023, up 3.8% on the year before. Net income was -$82 million, and diluted earnings per share $-1.65. The figures are the company's own, from the 10-K it filed with the SEC on 5 May 2023.

Revenue

$1.1 billion

+3.8% on the year

FY2016FY2023

Operating margin

-2.0%

30.4% a year earlier

FY2016FY2023

Net income

-$82 million

FY2016FY2023

Diluted EPS

-$1.65

FY2016FY2023

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2023 · Q2 FY2023 · Q3 FY2023 · Q4 FY2023

Income statement (profit and loss)

$ million	FY2023	FY2022	FY2021	On the year
Revenue	1,128	1,087	943	+3.8%
Cost of revenue	502	466	396	+7.8%
Gross profit	625	621	547	+0.7%
Gross margin	55.4%	57.1%	58.0%
Operating income	-22.4	330	297
Operating margin	-2.0%	30.4%	31.5%
Interest expense	4.4	64.3	82.3	-93.2%
Pre-tax income	-93.9	262	204
Income tax	-11.6	57.1	39.4
Effective tax rate	n/a	21.7%	19.3%
Net income	-82.3	205	165
Net margin	-7.3%	18.9%	17.5%
Diluted EPS	-$1.65	$4.04	$3.25

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2023	FY2022	FY2021	On the year
Operating cash flow	230	260	236	-11.6%
Capital expenditure	7.8	9.6	22.2	-19.3%
Free cash flow	222	250	213	-11.3%
Free cash flow margin	19.7%	23.0%	22.6%
Cash from investing	-11.6	-257	-22.2
Cash from financing	-186	-7.6	-279
Depreciation and amortisation	32.6	32.1	30.2	+1.7%
Share-based compensation	12.4	9.0	8.5	+37.2%
Buybacks	50.0	0.0	11.9
Diluted shares, weighted	50m	51m	51m	-1.9%

Balance sheet

$ million	FY2023	FY2022	FY2021	On the year
Shareholders' equity	1,447	1,578	1,358	-8.3%
Debt	1,346	1,477	1,480	-8.9%
Operating lease liabilities	9.9	16.1	19.7	-38.6%
Finance lease liabilities	1.7	4.5	6.8	-63.0%
Other liabilities	549	596	565	-7.8%
Total liabilities and equity	3,354	3,671	3,429	-8.6%
Fixed assets	70.4	71.3	70.1	-1.2%
Goodwill	528	579	578	-8.9%
Intangible assets	2,342	2,697	2,476	-13.2%
Cash and equivalents	58.5	27.2	32.3	+115.2%
Receivables	167	139	115	+19.9%
Inventory	162	120	115	+34.7%
Other assets	26.2	36.9	43.5	-28.9%
Total assets	3,354	3,671	3,429	-8.6%

10-K for the year ended 31 March 2023, filed 5 May 2023: the filing.