Stamford, CT
www.pdcbeauty.com
Sales: $237 million

Prestige Brands is one of the largest branded OTC companies in the US with more than 70 product families in the portfolio. Corporate sales decreased 1.3% to $963.0 million for the fiscal year ended March 31, 2019.

Revenues for fiscal 2020 were driven by continued positive consumption levels across the company’s core brands. Revenues for fiscal 2019 included the results of the divested household cleaning segment in the first quarter of fiscal 2019. Organic revenue increased 1.3% for the fiscal year driven by strong international segment growth as well as consumption gains in the company’s core brand portfolio domestically, partially offset by retailer inventory reductions.

According to CEO Ron Lombardi, “The continued focus on our three-pillar strategy and long-term brand building efforts delivered solid revenue, earnings and cash flow…as we enter Fiscal 2021, we anticipate a unique and uncertain business environment.

In the North American OTC healthcare segment, revenues totaled $219.8 million for the fourth quarter of fiscal 2020, compared to the prior year comparable quarter’s revenues of $214.9 million. The fourth quarter fiscal 2020 revenue increase was attributable to increased consumption in the Company’s core brand portfolio.

For the fiscal year 2020, reported revenues for the North American OTC healthcare segment were $859.4 million compared to $862.4 million in the prior year. Fiscal year 2020 was favorably impacted by increased consumption among the majority of core OTC brands but offset by inventory reductions at certain key retailers.

In international OTC healthcare, fiscal fourth quarter 2020 revenues totaled $31.4 million, compared to $26.1 million reported in the prior year comparable period. Revenues versus the prior year fourth quarter benefitted from strong consumption growth as well as the timing of distributor orders and shipments, partially offset by unfavorable foreign currency of approximately $1 million.

For the fiscal year 2020, reported revenues for the international OTC healthcare segment were $103.6 million versus the prior year’s revenues of $93.5 million, attributable to consumption and shipment growth in the Asia-Pacific region and particularly the company’s care brand portfolio in Australia. Growth in the fiscal year was partially offset by unfavorable foreign currency exchange rates of approximately $4 million.

As previously reported in the Happi Top 50, the company sold its household cleaning segment on July 2, 2018 and used net proceeds from the divestiture to pay down debt. For the first quarter of fiscal 2019, the household cleaning segment generated $19.8 million in revenues with no reported revenue in subsequent fiscal 2019 quarters.

Tarrytown, NY
www.prestigebrands.com
Sales: $240 million

Sales: $240 million (estimated) for personal care products. Corporate sales: $975.8 million.

Just about one year ago, Prestige sold its dwindling household cleaning business for $69 million in cash; the sector had contributed $80.6 million or 8% of total company sales in fiscal 2018. The unit included well-known home care brands such as Comet, Spic and Span and Chore Boy, but had been on a downward trajectory for years. KIK was the buyer.

The sale paved the way for Prestige to create a new company name that is more reflective of its core consumer healthcare focus: Prestige Consumer Healthcare, Inc. The company continues to trade under the symbol PBH.

Companywide revenues for fiscal 2019 fell 6.3% to $975.8 million. Positive consumption levels across core brands were offset by the divestiture of the household cleaning segment, according to the company. Revenues for the North American OTC Healthcare segment decreased 0.7% while the International OTC Healthcare segment saw revenues rise 2.0%. Organic revenue for the year increased 0.1%.

Prestige relies on contract manufacturers to produce a large portion of its products. As of March 31, 2019, the company had relationships with 113 third party manufacturers. Of those, it had long-term contracts with 33 that produced items that accounted for approximately 65.6% of gross sales for 2019, compared to 46 manufacturers with long-term contracts that accounted for approximately 73.6% of gross sales in 2018.