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Discover Latest #Profitability News, Articles and Videos with Contenting
Profitability news, articles, and videos provide an overview of the strategies and tactics that business owners and executives use to increase their company's profitability. Topics include cost reduction strategies, pricing strategies, sales and marketing strategies, and financial management strategies. In addition, profitability stories often include interviews with business owners and executives who have achieved success in increasing their company's profitability. These articles and videos can provide insight into the best practices for improving profitability, as well as inspiring real-life success stories.
How NYC Construction Estimating Impacts Project Profitability? - TechBullion
In the fast-paced and highly competitive construction world, accurate estimating is crucial for project profitability. This is particularly true in a dynamic and complex market like New York City, where the cost of materials, labor, and other factors can fluctuate rapidly. For contractors, developers, and project managers, understanding how NYC construction estimating directly influences project […]
ACM Research Reports First Quarter 2025 Results - ForexTV
FREMONT, Calif., May 08, 2025 (GLOBE NEWSWIRE) -- ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of wafer processing solutions for semiconductor and advanced packaging applications, today reported financial results for its first quarter ended March 31, 2025. “Our first quarter results mark a good start to 2025. We delivered 13% year-over-year revenue growth, solid profitability, and positive cash flow from operations,” said Dr. David Wang, President and Chief Executive Officer of ACM. “We achieved several strategic milestones: including the qualification of our high-temperature SPM tool by a leading logic customer in China, customer acceptance for our backside/bevel etch tool from a U.S. customer, and we received the 2025 3D InCites Technology Enablement Award for our proprietary Ultra ECP ap-p tool, which we believe is the world’s first to utilize horizontal plating for panel applications. These achievements highlight ACM’s technology leadership in both front-end processing and advanced packaging applications, which we believe will allow us to play a key role as the global industry demands innovation to advance the ever-evolving semiconductor requirements for AI.” “For 2025, we expect incremental revenue contribution from Tahoe, SPM, and furnace tools; and progress in customer evaluations of Track, PECVD, and panel-level packaging platforms. We believe ACM’s focused effort on developing world-class tools across our customer base will also support our efforts for additional major customer wins in global markets. We are also investing in our Oregon facility to serve as a base for customer evaluations, technology development and initial production for our global customers.” Three Months Ended March 31, GAAP Non-GAAP(1) 2025 2024 2025 2024 (dollars in thousands, except EPS)Revenue$172,347 $152,191 $172,347 $152,191 Gross margin 47.9% 52.0% 48.2% 52.5% Income from operations$25,777 $25,232 $35,594 $39,801 Net income attributable to ACM Research, Inc.$20,380 $17,433 $31,279 $34,597 Basic EPS$0.32 $0.28 $0.49 $0.56 Diluted EPS$0.30 $0.26 $0.46 $0.52 (1) Reconciliations to U.S. generally accepted accounting principles (“GAAP”) financial measures from non-GAAP financial measures are presented below under “Reconciliation of GAAP to Non-GAAP Financial Measures.” Non-GAAP financial measures exclude stock-based compensation and, with respect to net income (loss) attributable to ACM Research, Inc. and basic and diluted earnings per share, also exclude unrealized gain (loss) on short-term investments. Outlook ACM is maintaining its revenue guidance range of $850 million to $950 million for fiscal year 2025. This expectation is based on ACM management’s current assessment of the continuing impact from international trade policy, together with various expected spending scenarios of key customers, supply chain constraints, and the timing of acceptances for first tools under evaluation in the field, among other factors. Operating Highlights and Recent Announcements Shipments. Total shipments in the first quarter of 2025 were $157 million, compared to $245 million for the first quarter of 2024. This decrease is due in part to customer pull-ins in the fourth quarter of 2024, which contributed to stronger total shipments for that period. For reference, combined total shipments for the fourth quarter of 2024 and the first quarter of 2025 grew by 8.9% versus the prior year periods. We anticipate a return to year-on-year growth in total shipments for the second quarter of 2025. Total shipments include deliveries for revenue in the quarter and deliveries of first tool systems awaiting customer acceptance for potential revenue in future quarters.Qualification of High-Temp SPM Tool in China. ACM’s single-wafer high-temperature SPM tool was qualified by a key logic device manufacturer in mainland China. Featuring a proprietary nozzle that reduces acid mist and maintenance needs, the tool enhances particle control and system uptime. It supports wet etching and wafer cleaning for technology nodes at 28nm and below. ACM has now delivered SPM tools to 13 customers.Recognized for Innovation in High-Volume Fan-Out Panel-Level Packaging Solutions. ACM won the 2025 3D InCites Technology Enablement Award for its Ultra ECP ap-p tool, the first commercially available high-volume copper deposition system for the large panel market. This innovative system supports advanced panel sizes and delivers high uniformity through ACM’s proprietary horizontal plating approach, which we expect to help address integration challenges in advanced semiconductor packaging.Appointment of New Board Member. ACM appointed Charlie Pappis to its Board of Directors, effective March 15, 2025. First Quarter 2025 Financial Summary Unless otherwise noted, the following figures refer to the first quarter of 2025 and comparisons are with the first quarter of 2024. Revenue was $172.3 million, up 13.2%, reflecting higher sales of single wafer cleaning, Tahoe and semi-critical cleaning equipment and ECP (front-end and packaging), furnace and other technologies.Gross margin was 47.9% versus 52.0%. Non-GAAP gross margin, which excludes stock-based compensation, was 48.2% versus 52.5%. Gross margin exceeded ACM’s previously disclosed long-term business model target range of 42% to 48%. ACM expects gross margin to vary from period to period due to a variety of factors, such as product mix, currency impacts and sales volume.Operating expenses were $56.8 million, up 5.4%. Operating expenses as a percentage of revenue decreased to 32.9% from 35.4%. Non-GAAP operating expenses, which exclude the effect of stock-based compensation, were $47.5 million, up 18.4%. Non-GAAP operating expenses as a percentage of revenue increased to 27.6% from 26.3%.Operating income was $25.8 million, up 2.2%. Operating margin was 15.0% compared to 16.6%. Non-GAAP operating income, which excludes the effect of stock-based compensation, was $35.6 million, a decrease of 10.6%. Non-GAAP operating margin, which excludes stock-based compensation, was 20.7% compared to 26.2%.Unrealized loss on short-term investments was $1.1 million, compared to $2.6 million. Unrealized loss reflects the change in market value of the investments by ACM’s principal operating subsidiary, ACM Research (Shanghai), Inc. The value is marked-to-market quarterly and is excluded in the non-GAAP financial metrics.Income tax expense was $2.2 million, compared to $4.4 million.Net income attributable to ACM Research, Inc. was $20.4 million, compared to $17.4 million. Non-GAAP net income attributable to ACM Research, Inc., which excludes the effect of stock-based compensation and unrealized loss on short-term investments, was $31.3 million, compared to $34.6 million.Net income per diluted share attributable to ACM Research, Inc. was $0.30, compared to $0.26. Non-GAAP net income per diluted share, which excludes the effect of stock-based compensation and unrealized loss on short-term investments, was $0.46, compared to $0.52.Cash and cash equivalents, plus restricted cash and short-term and long-term time deposits were $498.4 million at March 31, 2025, compared to $441.9 million at December 31, 2024. Conference Call Details A conference call to discuss results will be held on Thursday, May 8, 2025, at 8:00 a.m. Eastern Time (8:00 p.m. China Time). To join the conference call via telephone, participants must use the following link to complete an online registration process. Upon registering, each participant will receive email instructions to access the conference call, including dial-in information and a PIN number allowing access to the conference call. This pre-registration process is designed by the operator to reduce delays due to operator congestion when accessing the live call. Online Registration: https://register-conf.media-server.com/register/BI300a7bc629bd43d98fcb1268d481b156 Participants who have not pre-registered may join the webcast by accessing the link at ir.acmr.com/news-events/events. A live and archived webcast will be available on the Investors section of the ACM website at www.acmr.com. Use of Non-GAAP Financial Measures ACM presents non-GAAP gross margin, operating expenses, operating income, net income attributable to ACM Research, Inc. and basic and diluted earnings per share as supplemental measures to GAAP financial measures regarding ACM’s operational performance. These supplemental measures exclude the impact of stock-based compensation, which ACM does not believe is indicative of its core operating results. In addition, non-GAAP net income attributable to ACM Research, Inc. and basic and diluted earnings per share exclude the effect of stock-based compensation and unrealized gain (loss) on short-term investments, which ACM also believes are not indicative of its core operating results. A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure is provided below under “Reconciliation of GAAP to non-GAAP Financial Measures.” ACM believes these non-GAAP financial measures are useful to investors in assessing its operating performance. ACM uses these financial measures internally to evaluate its operating performance and for planning and forecasting of future periods. Financial analysts may focus on and publish both historical results and future projections based on the non-GAAP financial measures. ACM also believes it is in the best interests of investors for ACM to provide this non-GAAP information. While ACM believes these non-GAAP financial measures provide useful supplemental information to investors, there are limitations associated with the use of these non-GAAP financial measures. These non-GAAP financial measures may not be reported by competitors, and they may not be directly comparable to similarly titled measures of other companies due to differences in calculation methodologies. The non-GAAP financial measures are not an alternative to GAAP information and are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures. They should be used only as a supplement to GAAP information and should be considered only in conjunction with ACM’s consolidated financial statements prepared in accordance with GAAP. Forward-Looking Statements Certain statements contained in this press release are not historical facts and may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “plans,” “expects,” “believes,” “anticipates,” “designed,” and similar words are intended to identify forward-looking statements. Forward-looking statements are based on ACM management’s current expectations and beliefs, and involve a number of risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from those stated or implied by the forward-looking statements. A description of certain of these risks, uncertainties and other matters can be found in filings ACM makes with the U.S. Securities and Exchange Commission, all of which are available at www.sec.gov. Because forward-looking statements involve risks and uncertainties, actual results and events may differ materially from results and events currently expected by ACM. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ACM undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in its expectations with regard to these forward-looking statements or the occurrence of unanticipated events. About ACM Research, Inc. ACM develops, manufactures and sells semiconductor process equipment spanning cleaning, electroplating, stress-free polishing, vertical furnace processes, track, PECVD, and wafer- and panel-level packaging tools, enabling advanced and semi-critical semiconductor device manufacturing. ACM is committed to delivering customized, high-performance, cost-effective process solutions that semiconductor manufacturers can use in numerous manufacturing steps to improve productivity and product yield. For more information, visit www.acmr.com. © ACM Research, Inc. ULTRA ECP ap and the ACM Research logo are trademarks of ACM Research, Inc. For convenience, these trademarks appear in this press release without ™ symbols, but that practice does not mean that ACM will not assert, to the fullest extent under applicable law, its rights to the trademarks. For investor and media inquiries, please contact: In the United States:The Blueshirt Group Steven C. Pelayo, CFA (360)808-5154 steven@blueshirtgroup.co In China:The Blueshirt Group Asia Gary Dvorchak, CFA +86 (138) 1079-1480 gary@blueshirtgroup.co ACM RESEARCH, INC.Condensed Consolidated Balance Sheets March 31, 2025 December 31, 2024 (Unaudited) (In thousands)Assets Current assets: Cash and cash equivalents$457,240 $407,445 Restricted cash 10,586 3,865 Short-term time deposits 17,202 17,277 Short-term investment 18,319 19,373 Accounts receivable, net 387,849 387,045 Other receivables 35,050 41,859 Inventories, net 609,567 597,984 Advances to related party 1,384 1,024 Prepaid expenses and other current assets 10,677 7,507 Total current assets 1,547,874 1,483,379 Property, plant and equipment, net 277,065 269,272 Operating lease right-of-use assets, net 17,747 14,038 Intangible assets, net 2,997 3,461 Long-term time deposits 13,393 13,275 Deferred tax assets 16,457 14,781 Long-term investments 54,814 37,063 Other long-term assets 3,421 20,452 Total assets$1,933,768 $1,855,721 Liabilities and Equity Current liabilities: Short-term borrowings$24,951 $32,814 Current portion of long-term borrowings 67,935 44,472 Related party accounts payable 19,285 16,133 Accounts payable 116,441 139,294 Advances from customers 241,456 243,949 Deferred revenue 10,781 8,537 Income taxes payable 6,168 12,779 FIN-48 payable 19,483 19,466 Other payables and accrued expenses 118,814 121,657 Current portion of operating lease liability 3,564 2,132 Total current liabilities 628,878 641,233 Long-term borrowings 134,540 105,525 Long-term operating lease liability 6,149 3,840 Other long-term liabilities 8,848 9,217 Total liabilities 778,415 759,815 Commitments and contingencies Equity: Stockholders’ equity: Class A Common stock 6 6 Class B Common stock 1 1 Additional paid-in capital 700,191 677,476 Retained earnings 280,380 260,000 Statutory surplus reserve 30,514 30,514 Accumulated other comprehensive loss (61,946) (63,372)Total ACM Research, Inc. stockholders’ equity 949,146 904,625 Non-controlling interests 206,207 191,281 Total equity 1,155,353 1,095,906 Total liabilities and equity$1,933,768 $1,855,721 ACM RESEARCH, INC.Condensed Consolidated Statements of Operations and Comprehensive Income Three Months Ended March 31, 2025 2024 (Unaudited) (In thousands, except share and per share data)Revenue$172,347 $152,191 Cost of revenue 89,797 73,070 Gross profit 82,550 79,121 Operating expenses: Sales and marketing 16,343 14,173 Research and development 27,503 23,918 General and administrative 12,927 15,798 Total operating expenses 56,773 53,889 Income from operations 25,777 25,232 Interest income 3,339 1,774 Interest expense (1,558) (783)Realized gain from sale of short-term investments - 273 Unrealized loss on short-term investments (1,082) (2,595)Other (expense) income, net (262) 3,080 Income (loss) from equity method investments 952 (520)Income before income taxes 27,166 26,461 Income tax expense (2,153) (4,369)Net income 25,013 22,092 Less: Net income attributable to non-controlling interests 4,633 4,659 Net income attributable to ACM Research, Inc.$20,380 $17,433 Comprehensive income (loss): Net income 25,013 22,092 Foreign currency translation adjustment, net of tax of nil 1,750 (6,829)Comprehensive Income 26,763 15,263 Less: Comprehensive income attributable to non-controlling interests 4,957 3,406 Comprehensive income attributable to ACM Research, Inc.$21,806 $11,857 Net income attributable to ACM Research, Inc. per common share: Basic$0.32 $0.28 Diluted$0.30 $0.26 Weighted average common shares outstanding used in computing per share amounts: Basic 63,267,834 61,367,184 Diluted 66,952,774 66,242,321 ACM RESEARCH, INC.Total Revenue by Product Category and by Region Three Months Ended March 31, 20252024 (Unaudited) ($ in thousands)Single wafer cleaning, Tahoe and semi-critical cleaning equipment$129,569$109,470ECP (front-end and packaging), furnace and other technologies 27,630 25,800Advanced packaging (excluding ECP), services & spares 15,148 16,921Total Revenue by Product Category$172,347$152,191 Three Months Ended March 31, 2025 2024Mainland China$169,053$152,135Other Regions 3,294 56Total Revenue by Region$172,347$152,191 ACM RESEARCH, INC.Reconciliation of GAAP to Non-GAAP Financial Measures As described under “Use of Non-GAAP Financial Measures” above, ACM presents non-GAAP gross margin, operating expenses, operating income, net income attributable to ACM Research, Inc., and basic and diluted earnings per share as supplemental measures to GAAP financial measures, each of which excludes stock-based compensation (“SBC”) from the equivalent GAAP financial line items. In addition, non-GAAP net income attributable to ACM Research, Inc., and basic and diluted earnings per share exclude unrealized gain (loss) on short-term investments. The following tables reconcile gross margin, operating expenses, operating income, net income attributable to ACM Research, Inc., and basic and diluted earnings per share to the related non-GAAP financial measures: Three Months Ended March 31, 20252024 ActualSBCOther non-operating adjustmentsAdjustedActualSBCOther non-operating adjustmentsAdjusted(GAAP)(Non-GAAP)(GAAP)(Non-GAAP) (In thousands) Revenue$172,347 $- $- $172,347 $152,191 $- $- $152,191 Cost of revenue (89,797) (529) - (89,268) (73,070) (781) - (72,289)Gross profit 82,550 (529) - 83,079 79,121 (781) - 79,902 Gross margin 47.9% 0.3% - 48.2% 52.0% 0.5% - 52.5% Operating expenses: Sales and marketing (16,343) (2,157) - (14,186) (14,173) (3,027) - (11,146)Research and development (27,503) (2,775) - (24,728) (23,918) (4,503) - (19,415)General and administrative (12,927) (4,356) - (8,571) (15,798) (6,258) - (9,540)Total operating expenses (56,773) (9,288) - (47,485) (53,889) (13,788) - (40,101)Income (loss) from operations$25,777 $(9,817)$- $35,594 $25,232 $(14,569)$- $39,801 Unrealized loss on short-term investments (1,082) - (1,082) - (2,595) - (2,595) - Net income (loss) attributable to ACM Research, Inc.$20,380 $(9,817)$(1,082)$31,279 $17,433 $(14,569)$(2,595)$34,597 Basic EPS$0.32 $0.49 $0.28 $0.56 Diluted EPS$0.30 $0.46 $0.26 $0.52
Crawford United Corporation Announces First Quarter 2025 Results - ForexTV
Sales of $43.3 million for the quarter, a $5.9 million sequential increase in sales from prior quarterImproved sales, operating income, net income and EBITDA As Defined1 compared to Q1 2024Earnings per share of $0.88 for the quarter CLEVELAND, May 08, 2025 (GLOBE NEWSWIRE) -- Crawford United Corporation (OTC: CRAWA), a growth-oriented holding company serving diverse markets, today reported results for the quarter ended March 31, 2025. For the quarter ended March 31, 2025, sales were $43.3 million compared with $38.4 million in the same period in 2024, an increase of 12.7%. In the quarter, the Company recorded operating income of $4.9 million compared with operating income of $4.6 million in the same quarter of the prior year, an increase of 7.0%. Net income was $3.1 million, or $0.88 per fully diluted share, compared to $3.0 million or $0.85 per fully diluted share, in the first quarter of 2024, an increase of 4.5%. EBITDA As Defined was $6.8 million in the quarter compared to $6.7 million in the same quarter of the prior year, an increase of 1.8%. Brian Powers, President and CEO, stated, “We are pleased with the ongoing success of our business model and remain confident in our ability to achieve long-term strategic priorities. In the first quarter of 2025, we surpassed our prior record for quarterly sales by more than $3.8 million. Crawford United is well positioned to pursue opportunities for increased revenue and profitability, always with an eye towards additional acquisitions.” About Crawford United Corporation. Crawford United Corporation is a growth-oriented holding company providing specialty industrial products to a wide range of industries, including healthcare, aerospace, transportation and energy. The company currently operates two business segments and produces a diverse portfolio of complex, highly-engineered products for customers who demand American-made quality. The Commercial Air Handling Equipment segment is a leader in designing, manufacturing, and installing highly customized, large-scale institutional, commercial, and industrial air handling solutions, primarily for hospitals and universities. The Industrial & Transportation Products segment provides highly complex precision components and coatings to customers in the aerospace and defense industries, as well as a full line of branded metal, silicone, plastic, rubber, hydraulic, marine and fuel hose products. For more information, go to www.crawfordunited.com. Information about Forward Looking Statements.This press release contains forward-looking statements within the meaning of the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995, including statements made regarding the company’s future results. Generally, these statements can be identified by the use of words such as “guidance,” “outlook,” “believes,” “estimates,” “anticipates,” “expects,” “forecasts,” “seeks,” “projects,” “intends,” “plans,” “may,” “will,” “should,” “could,” “would” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements, or other statements made by the Company, are made based on management's expectations and beliefs concerning future events impacting the Company and are subject to uncertainties and factors (including, but not limited to, those specified below) which are difficult to predict and, in many instances, are beyond the control of the Company. As a result, actual results of the Company could differ materially from those expressed in or implied by any such forward-looking statements. These uncertainties and factors include (a) shortages in supply or increased costs of necessary products, components or raw materials from the Company’s suppliers; (b) availability shortages or increased costs of freight and labor for the Company and/or its suppliers; (c) actions that governments, businesses and individuals take in response to public health crises, including mandatory business closures and restrictions on onsite commercial interactions; (d) conditions in the global and regional economies and economic activity, including slow economic growth or recession, inflation, currency and credit market volatility, reduced capital expenditures and changes in government trade, fiscal, tax and monetary policies, in particular the impact of any protectionist trade policies and related tariffs; (e) adverse effects from evolving geopolitical conditions, such as the military conflicts in Ukraine and Israel; (f) the Company's ability to effectively integrate acquisitions, and manage the larger operations of the combined businesses, (g) the Company's dependence upon a limited number of customers and the aerospace industry, (h) the highly competitive industries in which the Company operates, which includes several competitors with greater financial resources and larger sales organizations, (i) the Company's ability to capitalize on market opportunities in certain sectors, (j) the Company's ability to obtain cost effective financing and (k) the Company's ability to satisfy obligations under its financing arrangements, and the other risks described in “Item 1A. Risk Factors” in our Annual Report Form 10-K and the Company’s subsequent filings with the SEC. Brian E. PowersPresident & CEO216-243-2449bpowers@crawfordunited.com “Crawford United has a great future behind it.” 1 EBITDA As Defined is a Non-GAAP financial measure. Please refer to the definition and table at the end of this release for a reconciliation of EBITDA As Defined to net income. CRAWFORD UNITED CORPORATIONConsolidated Income Statement (Unaudited) Three Months Ended March 31, 2025 2024 Sales $43,314,111 100% $38,439,639 100%Cost of sales 31,252,489 72% 28,194,606 73%Gross Profit 12,061,622 28% 10,245,033 27% Operating Expenses: Selling, general and administrative expenses 7,168,770 17% 5,670,943 15%Operating Income 4,892,852 12% 4,574,090 12% Other Expense and (Income): Interest charges 326,624 1% 237,841 1%Loss on investments — 0% 118,077 0%Other expense 351,654 1% 72,263 0%Total Other Expense 678,278 2% 428,181 1%Income before Income Taxes 4,214,574 10% 4,145,909 11% Income tax expense 1,083,540 3% 1,149,024 3%Net Income $3,131,034 7% $2,996,885 8% Net income per common share Basic $0.88 $0.85 Diluted $0.88 $0.85 Weighted average shares outstanding Basic 3,548,310 3,533,012 Diluted 3,550,683 3,538,292 CRAWFORD UNITED CORPORATIONSupplemental Non-GAAP Financial Measures (Unaudited) EBITDA As Defined is a non-GAAP financial measure that reflects net income before interest expense, income taxes, depreciation and amortization, and also excludes certain charges and corporate-level expenses as defined in the Company's current revolving credit facility. The Company presents this non-GAAP financial measure because management uses EBITDA As Defined to assess the Company's performance and believes that EBITDA As Defined is useful to investors as an indication of the Company's compliance with its financial covenants in its revolving credit facility. Additionally, EBITDA As Defined is a measure used under the Company's revolving credit facility to determine whether the Company may incur additional debt under such facility. EBITDA As Defined is not a measure of performance under GAAP and should not be considered in isolation from, or as a substitute for, net income or cash flow information calculated in accordance with GAAP. EBITDA As Defined herein may not be comparable to similarly titled measures of other companies. The following table reconciles net income to EBITDA As Defined: Three Months Ended March 31, 2025 2024 Net income $3,131,034 $2,996,885 Addback: Interest charges 326,624 237,841 Income tax expense 1,083,540 1,149,024 Depreciation and amortization 1,176,005 1,030,294 Non-cash stock-based compensation expense (16,049) 612,354 Amortization of right of use assets 600,816 453,669 Loss on investments in equity securities - 118,077 Non-recurring acquisition-related expenses 506,248 89,063 EBITDA As Defined $6,808,218 $6,687,207
Prestige Consumer Healthcare Inc. Reports Record Fiscal 2025 Revenue and Earnings - ForexTV
Revenue of $296.5 million in Q4 and $1,137.8 million in fiscal 2025Organic revenue grew 7.9% in Q4 and 1.2% in fiscal 2025Diluted EPS of $4.29 in fiscal 2025; Adjusted fiscal 2025 Diluted EPS of $4.52 grew 7.4% versus adjusted prior yearReduced leverage to 2.4x at year-end driven by strong free cash flow and EBITDA growthInitial fiscal 2026 organic revenue growth and Diluted EPS outlook of approximately 1% to 2% and $4.70 to $4.82, respectively TARRYTOWN, N.Y., May 08, 2025 (GLOBE NEWSWIRE) -- Prestige Consumer Healthcare Inc. (NYSE:PBH) today reported financial results for its fourth quarter and fiscal year ended March 31, 2025. “We are very pleased with our fiscal year results, which delivered another year of consistent sales and earnings per share growth. The record fourth quarter sales performance exceeded our expectations, driven by continued International business strength, growth in a wide range of categories and brands in North America, and the success of the eCommerce channel thanks to our long-term investments and broad distribution. The resulting earnings growth translated into strong free cash flow which amplified shareholder returns through a continued disciplined capital allocation approach that included share repurchases, M&A, and deleveraging in the fiscal year,” said Ron Lombardi, Chief Executive Officer of Prestige Consumer Healthcare. Fourth Fiscal Quarter Ended March 31, 2025 Record reported revenues in the fourth quarter of fiscal 2025 of $296.5 million increased 7.0% from $277.0 million in the fourth quarter of fiscal 2024. Revenues increased 7.9% versus the prior fiscal fourth quarter excluding the impact of foreign currency. The revenue performance versus the prior year comparable period reflected broad-based growth across both North America and International business segments. GI and Women’s Health categories experienced the largest dollar growth versus the prior year, led by growth of the Summer’s Eve, Dramamine, and Fleet brands. Reported net income for the fourth quarter of fiscal 2025 was $50.1 million versus the prior year fourth quarter of $49.5 million. Diluted earnings per share of $1.00 for the fourth quarter of fiscal 2025 compared to $0.98 in the prior year comparable period. Non-GAAP adjusted net income for the fourth quarter of fiscal 2025 was $65.9 million and compared to the prior year period’s adjusted net income of $51.4 million. Non-GAAP adjusted diluted earnings per share of $1.32 per share for the fourth quarter of fiscal 2025 compared to $1.02 per share in the prior year comparable period. The adjustments to net income in the fourth quarter of fiscal 2025 and fourth quarter fiscal 2024 each reflects a tax rate adjustment to account for discrete items. Adjustments to net income in the fourth quarter of fiscal 2025 also included non-cash tradename impairments associated with non-strategic intangible assets, driven by a deliberate shift in sales and branding toward other strategic brands within our portfolio, and an associated tax adjustment. Fiscal Year Ended March 31, 2025 Reported revenues for the fiscal year 2025 totaled $1,137.8 million, an increase of 1.1% versus revenues of $1,125.4 million in the prior fiscal year. Revenues increased 1.2% versus the prior fiscal year excluding the impact of foreign currency. The revenue growth for the fiscal year was led by strong growth in the Gastrointestinal category as well as the International OTC segment, partially offset by declines in the Cough & Cold category and the anticipated limited ability to supply strong demand for Clear Eyes. Reported net income for fiscal 2025 of $214.6 million compared to $209.3 million in the prior year. Reported fiscal 2025 diluted earnings per share was $4.29, compared to $4.17 in the prior year. On a non-GAAP adjusted basis, fiscal 2025 adjusted net income of $226.3 million and adjusted diluted earnings per share of $4.52 compared to adjusted net income and adjusted diluted earnings per share of $211.3 million and $4.21 in the prior year, respectively. The adjustments to net income in fiscal 2025 and fiscal 2024 each include a normalized tax rate adjustment to account for discrete items. Adjustments to net income in fiscal 2025 also included non-cash tradename impairments associated with non-strategic indefinite-lived and finite-lived intangible assets, driven by a deliberate shift in sales and branding toward other strategic brands within our portfolio, and an associated tax adjustment. Free Cash Flow and Balance Sheet The Company's net cash provided by operating activities for the fourth quarter of fiscal 2025 was $61.8 million compared to $66.9 million during the prior year comparable period. Non-GAAP free cash flow in the fourth quarter of fiscal 2025 of $58.4 million decreased compared to $63.8 million in the prior year fourth quarter. The Company's net cash provided by operating activities for the fiscal year 2025 was $251.5 million, compared to $248.9 million during the prior year. Non-GAAP free cash flow in the fiscal year of fiscal 2025 was $243.3 million, increasing 1.6% compared to $239.4 million in the prior year. In fiscal 2025, the Company repurchased approximately 0.7 million shares at a total investment of approximately $51.5 million. The Company's net debt position as of March 31, 2025 was approximately $0.9 billion, resulting in a covenant-defined leverage ratio of 2.4x. Segment Review North American OTC Healthcare: Segment revenues of $248.9 million for the fourth quarter fiscal 2025 increased 7.7% compared to the prior year comparable quarter's segment revenues of $231.1 million. The revenue increase reflected strong GI and Women’s Health category growth, led by growth of the Summer’s Eve, Dramamine, and Fleet brands. For the fiscal year 2025, reported revenues for the North American OTC Healthcare segment were $960.0 million, an increase versus $958.3 million in the prior year. The slightly higher revenues were driven by GI category sales growth, partially offset by lower sales in the Cough & Cold category as well as the limited ability to fully supply demand for Clear Eyes. International OTC Healthcare: Fiscal fourth quarter 2025 revenues of $47.6 million increased 3.7% compared to $45.9 million reported in the prior year comparable period, and increased 7.1% excluding the effects of foreign currency. The revenue performance was driven by broad-based growth in Australia and led by the Hydralyte® brand. For the fiscal year 2025, reported revenues for the International OTC Healthcare segment were $177.8 million, an increase of approximately 6.4% over the prior year revenues of $167.1 million. The revenue growth was led by strong growth for the Hydralyte brand. Fiscal 2026 Initial Outlook Ron Lombardi, Chief Executive Officer, stated, “For fiscal 2026, we anticipate achieving organic revenue of approximately 2% and EPS growth of $4.72 to $4.82, equating to earnings growth of mid-to high-single digits. We are focused on leveraging our unique business attributes and using our proven strategies to help navigate the challenging and volatile macro operating environment, where we currently anticipate an approximate $15 million headwind related to the inflationary impacts of enacted tariffs to date. We plan to leverage our leading portfolio, diverse supply chain, and agile operating model to manage and mitigate these inflationary costs as they arise to achieve our fiscal 2026 earnings outlook.” “Execution of our proven strategy delivered a solid and steady performance in fiscal 2025. We believe our commitment to focused execution, a strong balance sheet, and the attributes of our diverse portfolio of needs-based products leaves us well positioned to continue generating consistent financial results and cash flow in this volatile backdrop, which should generate superior shareholder value creation,” Mr. Lombardi concluded. Initial Fiscal 2026 OutlookRevenue$1,140 to $1,155 millionOrganic Revenue GrowthApproximately 1% to 2%Diluted E.P.S.$4.70 to $4.82Free Cash Flow$245 million or more Fiscal Year End 2025 Conference Call, Accompanying Slide Presentation and Replay The Company will host a conference call to review its fourth quarter and fiscal 2025 results today, May 8, 2025 at 8:30 a.m. ET. The Company provides a live Internet webcast, a slide presentation to accompany the call, as well as an archived replay, all of which can be accessed from the Investor Relations page of the Company's website at http://www.prestigeconsumerhealthcare.com/. To participate in the conference call via phone, participants may register for the call here to receive dial-in details and a unique pin. While not required, it is recommended to join 10 minutes prior to the event start. The slide presentation can be accessed from the Investor Relations page of the Company’s website by clicking on Webcasts and Presentations. A conference call replay will be available for approximately one week following completion of the live call and can be accessed on the Company’s Investor Relations page. Non-GAAP and Other Financial Information In addition to financial results reported in accordance with generally accepted accounting principles (GAAP), we have provided certain non-GAAP financial information in this release to aid investors in understanding the Company's performance. Each non-GAAP financial measure is defined and reconciled to its most closely related GAAP financial measure in the “About Non-GAAP Financial Measures” section at the end of this earnings release. Note Regarding Forward-Looking Statements This news release contains "forward-looking statements" within the meaning of the federal securities laws that are intended to qualify for the Safe Harbor from liability established by the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" generally can be identified by the use of forward-looking terminology such as "guidance," "outlook," "may," "will," "would," “believe,” "expectation," "anticipate," “focus,” “plan,” “positioned,” or "continue" (or the negative or other derivatives of each of these terms) or similar terminology. The "forward-looking statements" include, without limitation, statements regarding the Company's future operating results including revenues, organic growth, diluted earnings per share, and free cash flow; the expected impact of tariffs and the Company’s ability to manage related inflationary challenges; and the Company’s ability to enhance shareholder value through its business strategy, diverse product portfolio, solid balance sheet, generation of free cash flow, and efficient capital allocation. These statements are based on management's estimates and assumptions with respect to future events and financial performance and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results could differ materially from those expected as a result of a variety of factors, including the impact of business and economic conditions, including as a result of evolving U.S. and international tariffs, labor shortages, inflation and geopolitical instability, consumer trends, the impact of the Company’s advertising and marketing and new product development initiatives, customer inventory management initiatives, fluctuating foreign exchange rates, competitive pressures, and the ability of the Company’s manufacturing operations and third party manufacturers and logistics providers and suppliers to meet demand for its products and to avoid inflationary cost increases and disruption as a result of labor shortages. A discussion of other factors that could cause results to vary is included in the Company's Annual Report on Form 10-K for the year ended March 31, 2024 and other periodic reports filed with the Securities and Exchange Commission. About Prestige Consumer Healthcare Inc. Prestige Consumer Healthcare is a leading consumer healthcare products company with sales throughout the U.S. and Canada, Australia, and in certain other international markets. The Company’s diverse portfolio of brands include Monistat® and Summer’s Eve® women's health products, BC® and Goody's® pain relievers, Clear Eyes® and TheraTears® eye care products, DenTek® specialty oral care products, Dramamine® motion sickness treatments, Fleet® enemas and glycerin suppositories, Chloraseptic® and Luden's® sore throat treatments and drops, Compound W® wart treatments, Little Remedies® pediatric over-the-counter products, Boudreaux’s Butt Paste® diaper rash ointments, Nix® lice treatment, Debrox® earwax remover, Gaviscon® antacid in Canada, and Hydralyte® rehydration products and the Fess® line of nasal and sinus care products in Australia. Visit the Company's website at www.prestigeconsumerhealthcare.com Prestige Consumer Healthcare Inc.Consolidated Statement of Income (Loss) and Comprehensive Income (Loss)(Unaudited) Three Months Ended March 31, YearEnded March 31,(In thousands, except per share data) 2025 2024 2025 2024 Total Revenues 296,518 276,991 1,137,762 1,125,357 Cost of Sales Cost of sales excluding depreciation 124,318 123,014 494,416 492,786 Cost of sales depreciation 2,190 2,160 8,883 8,123 Cost of sales 126,508 125,174 503,299 500,909 Gross profit 170,010 151,817 634,463 624,448 Operating Expenses Advertising and marketing 37,004 37,516 155,723 153,315 General and administrative 27,050 26,465 108,209 106,152 Depreciation and amortization 5,062 5,683 21,290 22,552 Tradename impairment 12,466 — 12,466 — Total operating expenses 81,582 69,664 297,688 282,019 Operating income 88,428 82,153 336,775 342,429 Other expense (income) Interest expense, net 10,759 15,260 47,632 67,160 Other expense (income), net 3,710 (429) 4,954 (756)Total other expense, net 14,469 14,831 52,586 66,404 Income before income taxes 73,959 67,322 284,189 276,025 Provision for income taxes 23,831 17,864 69,584 66,686 Net income $50,128 $49,458 $214,605 $209,339 Earnings per share: Basic $1.01 $0.99 $4.32 $4.21 Diluted $1.00 $0.98 $4.29 $4.17 Weighted average shares outstanding: Basic 49,656 49,833 49,697 49,757 Diluted 50,064 50,310 50,080 50,178 Comprehensive income, net of tax: Currency translation adjustments 2,586 (5,975) (3,083) (2,940)Unrecognized net (loss) gain on pension plans (81) 9 (81) 9 Total other comprehensive income (loss) 2,505 (5,966) (3,164) (2,931)Comprehensive income $52,633 $43,492 $211,441 $206,408 Prestige Consumer Healthcare Inc.Consolidated Balance Sheet(Unaudited) (In thousands)March 31, 2025 2024 Assets Current assets Cash and cash equivalents$97,884 $46,469 Accounts receivable, net of allowance of $16,314 and $16,377, respectively 194,293 176,775 Inventories 147,709 138,717 Prepaid expenses and other current assets 8,442 13,082 Total current assets 448,328 375,043 Property, plant and equipment, net 74,548 76,507 Operating lease right-of-use assets 28,238 11,285 Finance lease right-of-use assets, net 25,056 1,541 Goodwill 527,425 527,733 Intangible assets, net 2,295,350 2,320,583 Other long-term assets 3,273 5,725 Total Assets$3,402,218 $3,318,417 Liabilities and Stockholders' Equity Current liabilities Accounts payable$18,925 $38,979 Accrued interest payable 15,703 15,763 Operating lease liabilities, current portion 6,047 4,658 Finance lease liabilities, current portion 2,490 1,494 Other accrued liabilities 63,458 56,154 Total current liabilities 106,623 117,048 Long-term debt, net 992,357 1,125,804 Deferred income tax liabilities 419,594 403,596 Long-term operating lease liabilities, net of current portion 22,732 7,528 Long-term finance lease liabilities, net of current portion 20,624 172 Other long-term liabilities 5,391 9,185 Total Liabilities 1,567,321 1,663,333 Stockholders' Equity Preferred stock - $0.01 par value Authorized - 5,000 shares Issued and outstanding - None — — Common stock - $0.01 par value Authorized - 250,000 shares Issued – 56,010 shares at March 31, 2025 and 55,501 shares at March 31, 2024 560 555 Additional paid-in capital 593,402 567,448 Treasury stock, at cost – 6,501 shares at March 31, 2025 and 5,680 at March 31, 2024 (277,208) (219,621)Accumulated other comprehensive loss, net of tax (37,659) (34,495)Retained earnings 1,555,802 1,341,197 Total Stockholders' Equity 1,834,897 1,655,084 Total Liabilities and Stockholders' Equity$3,402,218 $3,318,417 Prestige Consumer Healthcare Inc.Consolidated Statement of Cash Flows(Unaudited) Year Ended March 31,(In thousands) 2025 2024 Operating Activities Net income$214,605 $209,339 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 30,173 30,675 Loss on sale or disposal of property and equipment 234 274 Deferred and other income taxes 14,409 23,070 Amortization of debt origination costs 1,754 5,240 Stock-based compensation costs 11,157 14,010 Non-cash operating lease cost 7,247 6,149 Impairment loss 12,466 — Other 1,411 — Changes in operating assets and liabilities, net of effects from acquisition: Accounts receivable (16,327) (6,322)Inventories (9,314) 24,439 Prepaid expenses and other current assets 4,655 (8,214)Accounts payable (19,411) (24,971)Accrued liabilities 6,984 (16,217)Operating lease liabilities (7,630) (7,134)Other (898) (1,412)Net cash provided by operating activities 251,515 248,926 Investing Activities Purchases of property, plant and equipment (8,224) (9,550)Acquisitions and other (9,228) (10,561)Net cash used in investing activities (17,452) (20,111) Financing Activities Term Loan repayments (135,000) (225,000)Payment of debt costs — (769)Payments of finance leases (4,536) (2,827)Proceeds from exercise of stock options 14,802 18,089 Fair value of shares surrendered as payment of tax withholding (5,832) (5,508)Repurchase of common stock (51,509) (25,000)Net cash used in financing activities (182,075) (241,015) Effects of exchange rate changes on cash and cash equivalents (573) 180 Increase (decrease) in cash and cash equivalents 51,415 (12,020)Cash and cash equivalents - beginning of year 46,469 58,489 Cash and cash equivalents - end of year$97,884 $46,469 Interest paid$47,804 $63,248 Income taxes paid$52,117 $59,637 Prestige Consumer Healthcare Inc.Consolidated Statement of IncomeBusiness Segments(Unaudited) Three Months Ended March 31, 2025(In thousands)North American OTCHealthcare International OTCHealthcare ConsolidatedTotal segment revenues*$248,949 $47,569 $296,518Cost of sales 107,463 19,045 126,508Gross profit 141,486 28,524 170,010Advertising and marketing 29,794 7,210 37,004Contribution margin$111,692 $21,314 133,006Other operating expenses** 44,578Operating income $88,428 *Intersegment revenues of $1.4 million were eliminated from the North American OTC Healthcare segment.**Other operating expenses for the three months ended March 31, 2025 includes a tradename impairment charge of $12.5 million. Year Ended March 31, 2025(In thousands)North American OTCHealthcare International OTCHealthcare ConsolidatedTotal segment revenues*$960,010 $177,752 $1,137,762Cost of sales 428,871 74,428 503,299Gross profit 531,139 103,324 634,463Advertising and marketing 129,431 26,292 155,723Contribution margin$401,708 $77,032 478,740Other operating expenses** 141,965Operating income $336,775 *Intersegment revenues of $3.9 million were eliminated from the North American OTC Healthcare segment.**Other operating expenses for the year ended March 31, 2025 includes a tradename impairment charge of $12.5 million. Three Months Ended March 31, 2024(In thousands)North American OTCHealthcare International OTCHealthcare ConsolidatedTotal segment revenues*$231,129 $45,862 $276,991Cost of sales 105,729 19,445 125,174Gross profit 125,400 26,417 151,817Advertising and marketing 30,787 6,729 37,516Contribution margin$94,613 $19,688 114,301Other operating expenses 32,148Operating loss $82,153 *Intersegment revenues of $1.2 million were eliminated from the North American OTC Healthcare segment. Year Ended March 31, 2024(In thousands)North American OTCHealthcare International OTCHealthcare ConsolidatedTotal segment revenues*$958,260 $167,097 $1,125,357Cost of sales 429,361 71,548 500,909Gross profit 528,899 95,549 624,448Advertising and marketing 131,494 21,821 153,315Contribution margin$397,405 $73,728 471,133Other operating expenses 128,704Operating loss $342,429 * Intersegment revenues of $3.7 million were eliminated from the North American OTC Healthcare segment. About Non-GAAP Financial Measures In addition to financial results reported in accordance with GAAP, we disclose certain Non-GAAP financial measures ("NGFMs"), including, but not limited to, Non-GAAP Organic Revenues, Non-GAAP Organic Revenue Change Percentage, Non-GAAP EBITDA, Non-GAAP EBITDA Margin, Non-GAAP Adjusted EBITDA, Non-GAAP Adjusted EBITDA Margin, Non-GAAP Adjusted Net Income, Non-GAAP Adjusted Diluted EPS, Non-GAAP Free Cash Flow, and Net Debt. We use these NGFMs internally, along with GAAP information, in evaluating our operating performance and in making financial and operational decisions. We believe that the presentation of these NGFMs provides investors with greater transparency, and provides a more complete understanding of our business than could be obtained absent these disclosures, because the supplemental data relating to our financial condition and results of operations provides additional ways to view our operation when considered with both our GAAP results and the reconciliations below. In addition, we believe that the presentation of each of these NGFMs is useful to investors for period-to-period comparisons of results in assessing shareholder value, and we use these NGFMs internally to evaluate the performance of our personnel and also to evaluate our operating performance and compare our performance to that of our competitors. These NGFMs are not in accordance with GAAP, should not be considered as a measure of profitability or liquidity, and may not be directly comparable to similarly titled NGFMs reported by other companies. These NGFMs have limitations and they should not be considered in isolation from or as an alternative to their most closely related GAAP measures reconciled below. Investors should not rely on any single financial measure when evaluating our business. We recommend investors review the GAAP financial measures included in this earnings release. When viewed in conjunction with our GAAP results and the reconciliations below, we believe these NGFMs provide greater transparency and a more complete understanding of factors affecting our business than GAAP measures alone. NGFMs Defined We define our NGFMs presented herein as follows: Non-GAAP Organic Revenues: GAAP Total Revenues excluding impact of foreign currency exchange rates in the periods presented.Non-GAAP Organic Revenue Change Percentage: Calculated as the change in Non-GAAP Organic Revenues from prior year divided by prior year Non-GAAP Organic Revenues.Non-GAAP EBITDA: GAAP Net Income before interest expense, net, provision for income taxes, and depreciation and amortization.Non-GAAP EBITDA Margin: Calculated as Non-GAAP EBITDA divided by GAAP Total Revenues.Non-GAAP Adjusted EBITDA: Non-GAAP EBITDA less tradename impairment.Non-GAAP Adjusted EBITDA Margin: Calculated as Non-GAAP Adjusted EBITDA divided by GAAP Total Revenues.Non-GAAP Adjusted Net Income: GAAP Net Income before tradename impairment, applicable tax impact associated with this item, and normalized tax rate adjustment.Non-GAAP Adjusted Diluted EPS: Calculated as Non-GAAP Adjusted Net Income, divided by the diluted weighted average number of shares outstanding during the period.Non-GAAP Free Cash Flow: Calculated as GAAP Net cash provided by operating activities less cash paid for capital expenditures.Net Debt: Calculated as total principal amount of debt outstanding ($1,000,000 at March 31, 2025 and $1,135,000 at March 31, 2024) less cash and cash equivalents ($97,884 at March 31, 2025 and $46,469 at March 31, 2024). Amounts in thousands. The following tables set forth the reconciliations of each of our NGFMs to their most directly comparable financial measures presented in accordance with GAAP. Reconciliation of GAAP Total Revenues to Non-GAAP Organic Revenues and related Non-GAAP Organic Revenue Change percentage: Three Months Ended March 31, Year EndedMarch 31, 2025 2024 2025 2024 (In thousands) GAAP Total Revenues$296,518 $276,991 $1,137,762 $1,125,357 Revenue Change 7.0% 1.1% Adjustments: Impact of foreign currency exchange rates — (2,262) — (1,482)Total adjustments — (2,262) — (1,482)Non-GAAP Organic Revenues$296,518 $274,729 $1,137,762 $1,123,875 Non-GAAP Organic Revenue Change 7.9% 1.2% Reconciliation of GAAP Net Income to Non-GAAP EBITDA and related Non-GAAP EBITDA Margin, Non-GAAP Adjusted EBITDA and related Non-GAAP Adjusted EBITDA Margin: Three Months Ended March 31, Year EndedMarch 31, 2025 2024 2025 2024 (In thousands) GAAP Net Income$50,128 $49,458 $214,605 $209,339 Interest expense, net 10,759 15,260 47,632 67,160 Provision for income taxes 23,831 17,864 69,584 66,686 Depreciation and amortization 7,252 7,843 30,173 30,675 Non-GAAP EBITDA 91,970 90,425 361,994 373,860 Non-GAAP EBITDA Margin 31.0% 32.6% 31.8% 33.2% Adjustments: Tradename impairment 12,466 — 12,466 — Total adjustments 12,466 — 12,466 — Non-GAAP Adjusted EBITDA$104,436 $90,425 $374,460 $373,860 Non-GAAP Adjusted EBITDA Margin 35.2% 32.6% 32.9% 33.2% Reconciliation of GAAP Net Income and GAAP Diluted Earnings Per Share to Non-GAAP Adjusted Net Income and related Non-GAAP Adjusted Diluted Earnings Per Share: Three Months Ended March 31, Year Ended March 31, 2025 2025 Adjusted EPS 20242024 Adjusted EPS 2025 2025 Adjusted EPS 20242024 Adjusted EPS(In thousands, except per share data) GAAP Net Income andDiluted EPS$50,128 $1.00 $49,458$0.98 $214,605 $4.29 $209,339$4.17Adjustments: Tradename impairment 12,466 0.25 — — 12,466 0.25 — —Tax impact of adjustment(1) (2,961) (0.06) — — (2,961) (0.06) — —Normalized tax rate adjustment(2) 6,266 0.13 1,983 0.04 2,236 0.04 1,983 0.04Total adjustments 15,771 0.32 1,983 0.04 11,741 0.23 1,983 0.04Non-GAAP Adjusted Net Income and Adjusted Diluted EPS$65,899 $1.32 $51,441$1.02 $226,346 $4.52 $211,322$4.21 (1) Income tax effect of above adjustment using the normalized tax rate.(2) Income tax adjustment to adjust for discrete income tax items. Note: Amounts may not add due to rounding. Reconciliation of GAAP Net Income to Non-GAAP Free Cash Flow: Three Months Ended March 31, Year EndedMarch 31, 2025 2024 2025 2024 (In thousands) GAAP Net Income$50,128 $49,458 $214,605 $209,339 Adjustments: Adjustments to reconcile net income to net cash provided by operating activities as shown in the Statement of Cash Flows 33,507 22,960 78,851 79,418 Changes in operating assets and liabilities as shown in the Statement of Cash Flows (21,787) (5,511) (41,941) (39,831)Total adjustments 11,720 17,449 36,910 39,587 GAAP Net cash provided by operating activities 61,848 66,907 251,515 248,926 Purchases of property and equipment (3,479) (3,143) (8,224) (9,550)Non-GAAP Free Cash Flow$58,369 $63,764 $243,291 $239,376 Outlook for Fiscal Year 2026: Reconciliation of Projected GAAP Net cash provided by operating activities to Projected Non-GAAP Free Cash Flow: (In millions) Projected FY'26 GAAP Net cash provided by operating activities$255 Additions to property and equipment for cash (10)Projected FY'26 Non-GAAP Free Cash Flow$245 Investor Relations ContactPhil Terpolilli, CFA, 914-524-6819irinquiries@prestigebrands.com
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