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Securities news and articles provide information on the stock market, investments, and other financial matters. They often include commentary and analysis from financial experts. Videos can also provide helpful information on financial matters, such as stock market trends, investment strategies, and economic news. Reading securities news and watching videos can help investors stay informed and make better decisions about their investments.
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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L&T, Asian Paints, Titan Company, Route Mobile, Bharat Forge, Voltas, Symphony, Aarti Industries Q4 Results Review: HDFC Securities
Larsen & Toubro Ltd. reported revenue/Ebitda/adjusted profit after tax at Rs 743.9/82/50.2 billion, a beat/(miss) of (5.2)/(4.3)/3.3%, aided by lower finance cost/tax. P&M margins stood at 9.9% (+30bps YoY). L&T guided for 10% order inflow growth (vs flat expectation) on a high FY25 base and 15% revenue growth (in-line) with P&M margin guidance for FY26 at 8.5%.
APMH Invest has obtained all necessary regulatory approvals for the all-cash recommended purchase offer for the shares in Svitzer - ForexTV
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION IN WHICH DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL Reference is made to company announcements dated 2 April 2025 and 1 May 2025 concerning APMH Invest A/S' (“APMHI”), a wholly owned subsidiary of A.P. Møller Holding A/S, all-cash voluntary recommended purchase offer to acquire all of the issued shares (the “Shares”) in Svitzer Group A/S (“Svitzer”), except for Shares owned by APMHI and Shares held by Svitzer and/or its subsidiaries in treasury, if any (the “Offer”). APMHI has today informed Svitzer that it has received the regulatory approval from the Secretary of State in the United Kingdom. Accordingly, APMHI has received all regulatory approvals required for completion of the Offer. Completion of the Offer remains subject to the satisfaction or waiver of the conditions set out in the offer document published by APMHI on 2 April 2025, including absence of material adverse change. The announcement from APMHI is attached. Svitzer shareholders who have not yet accepted the Offer but wish to do so are advised to accept the Offer prior to the expiry date of 14 May 2025 at 5:00 p.m. CEST. It is noted that certain custodian banks and account holding institutions may have earlier deadlines for submission of acceptance. For further information, please contact: Michael Nass Nielsen, Head of Investor Relations and FP&AT: +45 24941654E: ir@svitzer.com About Svitzer Svitzer is a leading, global towage and marine services provider. The core business is to assist large seaborne vessels in manoeuvring in and out of ports and terminals to berth and unberth. With more than 450 vessels, Svitzer’s services play a crucial role as part of critical port infrastructure. Svitzer was founded in 1833 and serves approximately 2,000 customers in more than 140 ports and 40 terminals across 37 countries. Read more on www.svitzer.com. Attachment All necessary regulatory approvals have been obtained for the all-cash recommended purchase offer for the shares in Svitzer Disclaimers This announcement does not constitute an offer or invitation to purchase any securities in Svitzer or a solicitation of an offer to buy any securities in Svitzer, pursuant to the Offer or otherwise. The Offer will be made solely by means of the Offer Document containing the full terms and conditions of the Offer, including details of how the Offer may be accepted. The Independent Directors are acting on behalf of the Company in their capacity as members of Svitzer's Board of Directors in connection with the Offer and the making of the Independent Directors' statement and not in any personal capacity. Citi, which is regulated by the European Central Bank and the German Federal Financial Supervisory Authority (in German Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin) and Bundesbank, is acting as financial adviser to Svitzer and for no one else in connection with the matters described in this announcement and the Offer and will not be responsible to anyone other than Svitzer for providing the protections afforded to clients of Citi nor for providing advice in connection with the Offer, or any other matters referred to in this announcement. Neither Citi nor any of its affiliates, directors or employees owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, consequential, whether in contract, in tort, in delict, under statute or otherwise) to any person who is not a client of Citi in connection with this announcement, any statement contained herein, the Offer or otherwise. Important information The Offer will not be made, and the Svitzer shares will not be accepted for purchase from or on behalf of persons, in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities or other laws or regulations of such jurisdiction. Persons obtaining this announcement and/or into whose possession this announcement comes are required to take due note and observe all such restrictions and obtain any necessary authorisations, approvals or consents. Neither APMHI nor Svitzer or any of their respective advisors accepts any liability for any violation by any person of any such restriction. Any person (including, without limitation, custodians, nominees and trustees) who intends to forward this announcement to any jurisdiction outside Denmark should inform themselves of the laws of the relevant jurisdiction, before taking any action. The distribution of this announcement in jurisdictions other than Denmark may be restricted by law, and, therefore, persons who come into possession of this announcement should inform themselves about and observe such restrictions. Any failure to comply with any such restrictions may constitute a violation of the securities laws and regulations of any such jurisdiction. Important information for shareholders in the United States The Offer is being made for the securities of Svitzer, a public listed company incorporated under Danish law, and is subject to Danish disclosure and procedural requirements, which differ from those of the United States. The Offer will be made in the United States in compliance with applicable Danish securities laws and the applicable requirements of the U.S. Securities Exchange Act of 1934, as amended, and the rules and regulations adopted by the U.S. Securities and Exchange Commission thereunder, including Regulation 14E. It may be difficult for U.S. holders of shares to enforce their rights and any claim arising out of the U.S. federal securities laws, because APMHI and Svitzer are located in a country other than the United States, and all of their officers and directors are residents of a country other than the United States. U.S. holders of shares may not be able to sue a non-U.S. company or its officers or directors in a non-U.S. court for violations of the U.S. securities laws. Further, it may be difficult to compel a non-U.S. company and its affiliates to subject themselves to a U.S. court’s judgment. Neither the U.S. Securities and Exchange Commission nor any U.S. state securities commission or other regulatory authority has approved or disapproved the Offer, passed upon the fairness or merits of the Offer or provided an opinion as to the accuracy or completeness of this announcement, the Offer Document or any other documents regarding the Offer. Forward-looking statements This release contains forward-looking statements and statements of future expectations that reflect APMHI's current views and assumptions with respect to future events. These forward-looking statements may discuss expectations, identify strategies, contain projections or state other forward-looking information and include, but are not limited to, statements related to the expected structure and schedule for completion of the Offer and related matters described in this release, the management and prospects of Svitzer's business after the completion of the Offer, APMHI's current plans with respect to the Offer and the business, management and prospects of Svitzer. These statements do not guarantee business performance in the future; they carry known or unknown risks, uncertainties, and other factors that may differ significantly from the actual performance, development or financial position of APMHI and Svitzer in the future. These forward-looking statements can be identified by the use of forward-looking terminology, such as "aims," "believes," "expects," "estimates," "may," "anticipates," "plans," "intends," "should," "will," "seeks," "forecasts," "in the future", or the negative of these terms or similar expressions, or in particular by discussions about "strategy," "target," "plan," or "intention". There is a possibility that actual business results may greatly differ from those expressed in or implied by such forward-looking statements due to various factors. Such factors include, but are not limited to, the following: (i) uncertainties related to the structure and schedule for completion of the Offer, (ii) Svitzer's shareholders may or may not tender into the Offer, (iii) a proposal that competes with the Offer may be made, (iv) the risk that the regulatory and other conditions, which are necessary for the completion of the Offer, will not be satisfied (v) the possibility that the announcement of the Offer may cause difficulty in keeping the relations with Svitzer's management, employees, customers, suppliers and other trading partners, (vi) the risk that a shareholder related lawsuit on the Offer will be filed and the defence thereof may cost significant expenses or lead to large payments, (vii) the impact of changes in the legislative system, accounting standards and other management environments related to the relevant parties, (viii) issues in implementing business strategies, (ix) the impact of financial uncertainties and changes in other general economic and industrial conditions, (x) Offer costs, (xi) fixed or contingent liabilities that may materialize, and (xii) other risks set forth in the offer document publicly disclosed by APMHI or Svitzer. Neither APMHI nor Svitzer has a duty of updating the forward-looking statements as a result of the emergence of new information, future circumstances or other circumstances, unless the updating is explicitly required by applicable law. Attachments APMH Invest obtains all necessary regulatory approvals APMH Invest has obtained all necessary regulatory approvals
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