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Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

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Prestige Brands Holdings, Inc / Equity Bottom-Up

<ul><li>On August 6, PBH reported 1QFY27 EPS of $0.98 versus consensus of $0.89. </li><li>Sales were $265.7MM, +6.5% Y/Y, with organic sales +3.2% and the Breathe Right acquisition contributing $5.9MM or 2.4%. </li><li>The pull-forward of retail orders contributed 2% to growth. </li></ul>

On August 6, PBH reported 1QFY27 EPS of $0.98 versus consensus of $0.89. Sales were $265.7MM, +6.5% Y/Y, with organic sales +3.2% and the Breathe Right acquisition contributing $5.9MM or 2.4%. The pull-forward of retail orders contributed 2% to growth. 

PBH: Deals Increase Sales Base by More than 20%

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<ul>
  <li>Prestige Brands is navigating near-term supply chain disruptions, particularly impacting its key Clear Eyes brand, which has led to recent revenue declines and forecast misses.</li>
  <li>The company maintains a long-term growth strategy centered on acquiring and revitalizing established, niche over-the-counter (OTC) brands, as evidenced by the recent acquisitions of LaCorium Health and Breathe Right.</li>
  <li>Despite operational headwinds, the company demonstrates strong financial discipline through consistent free cash flow generation, which is prioritized for rapid deleveraging and strategic capital allocation, including potential share repurchases.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  Prestige Brands is navigating near-term supply chain disruptions, particularly impacting its key Clear Eyes brand, which has led to recent revenue declines and forecast misses.
  The company maintains a long-term growth strategy centered on acquiring and revitalizing established, niche over-the-counter (OTC) brands, as evidenced by the recent acquisitions of LaCorium Health and Breathe Right.
  Despite operational headwinds, the company demonstrates strong financial discipline through consistent free cash flow generation, which is prioritized for rapid deleveraging and strategic capital allocation, including potential share repurchases.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Prestige Brands Holdings, Inc (PBH US) - Aug 2026

<ul><li>PBH reported 4QFY26 adjusted EPS of $1.23 versus $1.32 in 4QFY25, a decline of 6.8% and below expectations. Our estimate was $1.40 and consensus was $1.39.</li><li>Full-year FY26 adjusted EPS of $4.38 came in below the company’s own expectation of ~$4.54 and below the $4.52 reported in FY25.</li><li>Revenue of $281.6 million in the quarter fell 5.0% Y/Y on a reported basis and 6.4% organically, also below expectations, reflecting a combination of persistent Clear Eyes supply constraints and incremental shipping disruptions in the Middle East that further pressured 4Q results.</li></ul>

PBH reported 4QFY26 adjusted EPS of $1.23 versus $1.32 in 4QFY25, a decline of 6.8% and below expectations. Our estimate was $1.40 and consensus was $1.39.Full-year FY26 adjusted EPS of $4.38 came in below the company’s own expectation of ~$4.54 and below the $4.52 reported in FY25.Revenue of $281.6 million in the quarter fell 5.0% Y/Y on a reported basis and 6.4% organically, also below expectations, reflecting a combination of persistent Clear Eyes supply constraints and incremental shipping disruptions in the Middle East that further pressured 4Q results.

PBH: Supply-Driven 4QFY26 Miss Obscures a Strengthening Multi-Year Story

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Prestige Consumer Healthcare entered fiscal 2027 with a mixed backdrop: fiscal 2026 revenue declined 4.3% to $1.09 billion, Clear Eyes supply constraints weighed on results, and fourth-quarter revenue fell 5.0% year over year to $281.6 million.</li><li>Yet the company also generated $246.4 million of free cash flow, repurchased $156 million of stock, and announced a definitive agreement to acquire LaCorium Health for approximately $150 million in cash.</li><li>LaCorium brings a therapeutic skin care portfolio led by Dermal Therapy, Flexitol, and Crampeze, with roughly $40 million in trailing revenue and expected EBITDA of about $12 million after full integration.</li></ul>

Prestige Consumer Healthcare entered fiscal 2027 with a mixed backdrop: fiscal 2026 revenue declined 4.3% to $1.09 billion, Clear Eyes supply constraints weighed on results, and fourth-quarter revenue fell 5.0% year over year to $281.6 million.Yet the company also generated $246.4 million of free cash flow, repurchased $156 million of stock, and announced a definitive agreement to acquire LaCorium Health for approximately $150 million in cash.LaCorium brings a therapeutic skin care portfolio led by Dermal Therapy, Flexitol, and Crampeze, with roughly $40 million in trailing revenue and expected EBITDA of about $12 million after full integration.

Prestige Consumer Healthcare Takeover Of LaCorium Opens A New Growth Lane!

<ul><li>PBH announced the acquisition of Breathe Right® and a portfolio of complementary brands from Foundation Consumer Healthcare for $1.045 billion, or ~$900 million net of anticipated tax benefits.</li><li>The transaction is expected to close in the first half of PBH’s FY27, subject to HSR clearance and other customary closing conditions.</li><li>The acquired portfolio generated ~$200 million in revenue and ~$95 million in EBITDA over the trailing 12 months ended December 31, 2025, implying an EBITDA margin of ~47.5%. </li></ul>

PBH announced the acquisition of Breathe Right® and a portfolio of complementary brands from Foundation Consumer Healthcare for $1.045 billion, or ~$900 million net of anticipated tax benefits.The transaction is expected to close in the first half of PBH’s FY27, subject to HSR clearance and other customary closing conditions.The acquired portfolio generated ~$200 million in revenue and ~$95 million in EBITDA over the trailing 12 months ended December 31, 2025, implying an EBITDA margin of ~47.5%. 

PBH: Breathe Right Acquisition Right on Point

United States

Prestige Brands Holdings, Inc. distributes over-the-counter healthcare and household cleaning products to retail stores in the United States, Canada and other international markets.  The Company distributes oral, eye and skin care; cough, cold, allergy and sinus; and household cleansers, sponges, scrubbers and cleaning pads.

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Prestige Brands Holdings, Inc (PBH US)

PBH: Deals Increase Sales Base by More than 20%

Sales were $265.7MM, +6.5% Y/Y, with organic sales +3.2% and the Breathe Right acquisition contributing $5.9MM or 2.4%. The pull-forward of retail...

Water Tower Research

Primer: Prestige Brands Holdings, Inc (PBH US) - Aug 2026

Prestige Brands is navigating near-term supply chain disruptions, particularly impacting its key Clear Eyes brand, which has led to recent...

αSK Primers

PBH: Supply-Driven 4QFY26 Miss Obscures a Strengthening Multi-Year Story

PBH reported 4QFY26 adjusted EPS of $1.23 versus $1.32 in 4QFY25, a decline of 6.8% and below expectations. Our estimate was $1.40 and consensus...

Water Tower Research

Prestige Consumer Healthcare Takeover Of LaCorium Opens A New Growth Lane!

Prestige Consumer Healthcare entered fiscal 2027 with a mixed backdrop: fiscal 2026 revenue declined 4.3% to $1.09 billion, Clear Eyes supply...

Baptista Research

PBH: Breathe Right Acquisition Right on Point

PBH announced the acquisition of Breathe Right® and a portfolio of complementary brands from Foundation Consumer Healthcare for $1.045 billion,...

Water Tower Research

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