01.14.19
Prestige Consumer Healthcare Inc. updated its guidance for the third quarter and full-year fiscal 2019 in anticipation of its presentation in the 2019 ICR conference. The company revealed that preliminary revenue for its fiscal 2019 third quarter ended Dec. 31, 2018 is expected to be approximately $241.4 million. The change versus the company’s previously discussed third quarter fiscal 2019 outlook was driven primarily by inventory reductions at certain key retailers.
Based on the revised expected third quarter revenue performance as well as unfavorable foreign currency headwinds, the company now expects total fiscal 2019 revenue of $970 to $975 million.
“Our fiscal 2019 business fundamentals continue to be stable, however third quarter performance was temporarily affected by accelerated inventory reductions at certain key retailers, causing us to lower our full-year outlook. Despite the inventory reductions, we continue to experience brand success across our portfolio driven by our long-term brand-building and portfolio evolution efforts,” said CEO Ron Lombardi.
Based on the revised expected third quarter revenue performance as well as unfavorable foreign currency headwinds, the company now expects total fiscal 2019 revenue of $970 to $975 million.
“Our fiscal 2019 business fundamentals continue to be stable, however third quarter performance was temporarily affected by accelerated inventory reductions at certain key retailers, causing us to lower our full-year outlook. Despite the inventory reductions, we continue to experience brand success across our portfolio driven by our long-term brand-building and portfolio evolution efforts,” said CEO Ron Lombardi.