Prestige Consumer Healthcare Inc (NYSE:PBH) Q4 2024 Results Conference Call May 15, 2024 8:30 AM ET

Company Participants

Phil Terpolilli - Director of Investor Relations
Ron Lombardi - Chairman, President & CEO
Chris Sacco - Chief Financial Officer

Conference Call Participants

Rupesh Parikh - Oppenheimer
Susan Anderson - Canaccord
Mitchell Pinheiro - Sturdivant
Linda Bolton-Weiser - D.A. Davidson

Operator

Thank you for standing by. My name is Romainy, and I'll prepare your conference operator today. At this time, I would like to welcome everyone to Q4 2024 for Prestige Consumer Healthcare Inc Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers remarks there will be a question and answer session. [Operator Instructions]

I would now like to turn the call over to Phil Terpolilli, Vice President of Investor Relations and Treasury. Please go ahead.

Phil Terpolilli

Thanks, operator, and thank you to everyone who's joined today.

On the call with me are Ron Lombardi, our Chairman, President and CEO; and Christine Sacco, our CFO.

On today's call, we'll review our fiscal 2024 results discuss our outlook for '25 and then take questions from analysts.

A slide presentation accompanies today's call and can be accessed by visiting prestigeconsumerhealthcare.com, clicking on the Investors link and then on today's webcast and presentation.

Remember some of the information contained in the presentation today includes non-GAAP financial measures. Reconciliations to the nearest GAAP financial measures are included in our earnings release and slide presentation. On today's call, management will make forward-looking statements around risks and uncertainties, which are detailed in a complete safe harbor disclosure on Page 2 of the slide presentation that accompanies the call. These are important to review and contemplate business environment uncertainty remains heightened due to supply chain constraints, high inflation and geopolitical events, which have numerous potential impacts. This means results could change at any time, and the forecasted impact of risk considerations is the best estimate based on the information available as of today's date.

Further information concerning risk factors and cautionary statements are available in our most recent SEC filings and most recent company 10-K that was released this morning.

I'll now hand it over to our CEO, Ron Lombardi. Ron?

Ron Lombardi

Thanks, Phil. Good morning, everyone, and now let's begin on Slide 5.

Our fiscal '24 results for revenue and adjusted EPS were approximately flat to the prior year due to our fourth quarter results. We were disappointed with this fourth quarter performance, which did not meet the anticipated growth objectives we communicated. Very strong consumption growth for the year, in excess of our long-term 2% to 3% target, was not reflected in organic sales due to supply chain pressures late in the fourth quarter that prevented our ability to fulfill retailer orders. I'll discuss this in greater detail in a moment.