PBH - Earnings call transcript Q2 2022 | Prestige Consumer Healthcare Inc.

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Operator

Thank you for standing by, and welcome to the Q2 2022 Prestige Consumer Healthcare, Inc. Earnings Conference Call. [Operator Instructions] As a reminder, today's conference call is being recorded. I would now turn the conference to your host, Mr. Phil Terpolilli, Vice President, Investor Relations and Treasury. sir. ahead, go Please

Phil Terpolilli

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

call, Ron call and today's Sacco, Chairman, financial then today's full second year with questions an the presentation. accompanies visiting then analysts. by clicking the on prestigeconsumerhealthcare.com, in the results, today's slide Lombardi, fiscal release and contained our review GAAP 'XX today webcast to quarter me today's remember On can the be outlook Christine accessed and included On which nearest updated and presentation. information Please Investors There's on are measures our of a measures. some call, provide presentation presentation the it CEO; link are the President CFO. earnings take financial and we'll in from and includes Reconciliations non-GAAP slide

change business any forecasted uncertainty is aware, available as best to numerous could make date. the risks is harbor potential and complete call, statements as accompanying presentation well heightened X today's COVID-XX time, uncertainties, impacts. During estimate environment This due the Page on to impact results the of to the important information everyone the continues on forward-looking the will in on means are today safe and and call review which call. are management remains contemplate These slide detailed risk the based have around the and at of today's of

Ron? factors, and to now risk over concerning are hand in filings I'll Lombardi. most CEO, information Additional XX-K. SEC statements Ron our most company available our cautionary recent recent it

Ron Lombardi

Phil. Thanks,

begin Let's X. on Slide

driven quarter delivered we of several QX quarter, factors. of our million record discussed XX% in prior the results, in pleased impressive very a are year We the We continuation versus which up $XXX by the revenues August. with performance first were

strong aided our and our performed consumer building. the business by well majority brand First, portfolio, base time-tested behaviors across of our

strength. wins many The both factors reflects rapid shortly. trends and performance year-to-date. driven share discuss nearly categories organic in all channels our of also growth and was bit in line about across of consumption these a market top detail more occurred the of XX% I'll Our continued by

million Lastly, Akorn's is the a and generated to off $XX.X July acquisition start. revenue solid Consumer in Brands of X

our fully integrated growth confident Clear and the remain have We business outlook into TheraTears' processes fit long-term in Eyes. alongside and

top cash flow, generated $X.XX As versus earnings year. adjusted free adjusted both cash digits prior double into of million, EPS translated line performance of flow the and superior free $XX and up we

year-to-date acquisition fiscal at cash anticipate disciplined performance free Even capital back leverage our finished capital with strong year-end, X, on at allocation enabling strategy. we further Our X.Xx optionality. flow net the continues our QX and being below future quarter and to solid allocation enable the and of Akorn July Xx

and update impact around various macro have a from for an consumer all Page changes to other turn of evolving and rapidly consumer year, pandemic Let's we pandemic. COVID-XX the resulting X environment other witnessed habits consumer the the habits as Since continued businesses. effects to evolving last

new and to diverse successfully. of a succeed we continued business, from many attributes: dynamic trends QX us began being themes, QX, our Fortunately, a having brands, manage major chain In leading agile supply some and to experienced enables under them organization experience for environment. our we each of positioned These this to are and numerous an fall X few in trends. well

as as QX began as cold well, head cough experienced Dramamine extended by First, the impacted in of higher certain categories trends into a business. consumer In continuation and including the rebound in uptick additional lice. that We to in travel previously COVID-XX well illnesses QX, our benefited around normalize. rebound habits sharp continue modest a categories

from benefiting Dramamine, brands Chloraseptic, these Nix of this rebound double each up in include which categories, Hydralyte consumption leading with Our are Luden's, digits. and

consumer rates leading therefore, as and consumers With of and boost. mind for in from retailers higher they our shifted have are we supply further poised shop, anticipation fueled consumers their market order demand this positions, of purchasing media. Both in to near-term Second, broadly our the top performance. QX concerns our trends benefit being noted and

For ours. concerns supply share. strong the want ordering to increased as vaccine example, and be have to retailers channel, risks support this and as do such generated drove leading distribution trends foot in higher increased drug at broad traffic shelf the in of consumption also we potential channel a broad market not without brands where takeaway This

costs certain we and are supply to evaluating elevated others, the navigate margin important gross well are impacts. impact similar later, global will review it's note, and chain to in positioned the constraints, we any occurring to Third, watching but Chris marketplace.

Our savings brand cost ongoing asset-light quickly portfolio give the react actions to the and manufacturing us efforts marketplace and ability leading in challenges as necessary. to through both strategy price

our Now a for brand-building let's strategy. turn Slide on to midyear update X

portfolio for outpaced growth. brand fiscal our share has market category year-to-date, For our

Clear many recovery expand position to On of a are continues the Pocket brand-building In fiscal success the Clear to in Eyes brand months but efforts the relief. we discussed, its leading Gaviscon side with channel to success year-to-date forward remains just in page growth on X Clear This we've with the Eyes I in in quarters. convenience strong continue innovation utilizing TheraTears consumers helped to travel in redness consumer particularly 'XX. work right and the is of where rebound the performance a first leader page Canada category performance as of our had by brand strong for we side full the driven W our look spectrum growth marketing, deliver X long-term is our the for categories of a strategies left the experience seek that superior product. GI, of the in same Eyes And Care, in also treatment. both experience Pal market-leading and long-term experience. We market by these supported Fleet. solid coming shown to continue Eye by In Compound brand for in executing continue Skin, share

performance of share categories year-to-date and the result with growing brands our our of proud are share. a long-term market positioning This portfolio majority strategy. vast our is largest and to testament We

ago our let's double e-commerce. that continued our update across e-commerce consumer our over today When digits for we turn leader is a year comparison. by health driven an success we to in Now retail our care, grow Slide partners. and continue Impressively, our despite in e-commerce fiscal on our channel to a which investments business, as began in This to sales. early in e-commerce this year, prior doubled the sales X acceleration overnight online all saw XX% of of rapid effectively enables

digital content consumers. the online timely of to continue consumers the We share e-commerce Shown win few targeted and right page through advertising. of our examples. engaging, investments with use We across on are messaging our the a with end with in and expanding goal

the For Meanwhile, connections product campaigns Compound for treatment finder brands, online behind W, as them. consumers and such DenTek other its right engaging consumers. with skin help deepen content solution find web help

X continue around oral efforts as are daily DenTek in care for of their a and reminder part engage to offerings the a further care many assortment These the we broad oral examples us enthusiasts, of that are online routine. used our e-commerce campaigns the growth. position of For

to through Chris to the over it turn walk financials. I'll Now

Christine Sacco

Good Thanks, everyone. morning, Ron.

review results. XX 'XX and Slide turn our second Let's quarter financial fiscal to

the added the versus today's non-GAAP an GAAP reminder, release. on includes is measure revenue certain million prior As foreign XX.X% the excluding in the acquisition to a in Akorn, $XX.X and reconciled earnings information which basis organic of the well latter quarter that $XXX.X the in as XX.X% of presentation information of the as currency. effect our closest QX million increased year,

the many our By QX consumer segment, were categories previously GI, trends cough and continued Nearly from organic largest in cold all dermatological increases America up in product highlighted approximately Ron North of categories. COVID-XX. impacted benefit As grew and earlier, categories XX%. revenues favorable to by with

As sales as currency. Ear a prior consumer EPS prior Clear lift for OTC a normalized Care. by margin expense. the consistent XX% a $X.XX certain EBITDA the trends well favorable in travel around primarily Australia. after towards ago, in approximately an our remained driven over in year, Adjusted QX activities brands mid-XXs. attributable to and share, foreign The International in increase effects Ron interest for and from the more in XX% normalized XX% and year increased discussed year EBITDA GI drive expectations illness while long-term trends Adjusted by as of more sales versus Eyes earlier, increase in QX, was approximately the lower versus significant Hydralyte Dramamine was return with led excluding per Eye up and a higher in increased comparison helped quarter in the more

improved On of months for such year-ago versus and acquisition half. brand favorable around of comparison, XX for by efforts as long-term was QX, the and organic effects Revenues increased fiscal of Akorn Slide certain after cold XX% grew a $XX.X 'XX well lice. more first the the to in Let's currency. Similar categories head turn driven the cough revenues foreign prior the million COVID-impacted trends from for basis, an results as X this performance contribution building as to and consolidated year. excluding first travel, detail XX% the

of fiscal online continue in 'XX. channel, half sharply occurred costs. company product further that building well year-over-year supply margin gross offset first chain reflective as the was purchasing margin upon sales to growth the year's by performance e-commerce gross was of XX.X% in higher-than-expected to the higher experience double-digit of XX.X%. consumption mix, partially as throughout the adjusted Total We performance consistent last approximate This rising shift favorable

our comes inflationary advantage leading an reminder, it to product diversified supply a are pressures. and managing As portfolio chain when

evaluating business offset We to across efforts executing pricing are cost-saving well as as our actions inflationary pressures. constantly

tactical back discussed on leading our have taken already of number in certain a brands. increases price we August, of As

others a continue further as pressures of the price XX% costs, even We which current half, anticipate headwinds. the fiscal 'XX. are a gross supply anticipate to these XX% to offset As for forward second causing is and that increases a now with moving and assumes margin in margin challenges we environment inflationary experiencing. This the approximately cost result, gross reflects we necessary higher

shelter-in-place P&L. prior restrictions. the came the due slightly rate to abnormally last marketing in to versus year year largely and first for COVID-XX Advertising half, due low spend down of the of XX.X% QX Moving at up in the

rate in we approximate A&M expenses A&M For half. XX%. of anticipate sales XX% G&A of of we QX, fiscal And 'XX, sales. X% just a percentage were first for over Adjusted still the anticipate approximately as an

expenses. G&A in dollars certain QX, ahead, the to Looking of timing should owing decline sequentially

million $XX the share and sales year. Higher grew lower around the X.X%. still to the first We 'XX, we fiscal for this $X.XX for year of expense prior XX.X% interest full half anticipate G&A growth. interest year. EPS the approximate Adjusted For anticipate full per of over drove

Now let's turn to XX. Slide

the well just XX% due lower half, generated in first operating cash million we up discussed flow, free to as prior CapEx. the as $XXX.X year For the performance about versus strong

industry-leading free our We leverage with quarter continue and model. cash X.Xx. flow of a we to net year-end by $X.X anticipate leverage of around conversion XX, the maintain fiscal approximately debt We was covenant-defined Xx September ratio 'XX. now our based finished billion, At below asset-light

around We focused reduction that, turn strategy continue back to operate to And I'll with term. the with it a in near capital Ron. allocation disciplined debt

Ron Lombardi

Chris. Thanks,

to fiscal 'XX. increased XX discuss for and Slide Let's to up outlook turn wrap our

confident second We are performance strategy. the the allow first underpinned continued a strong market. half We to our fiscal anticipate but dynamic by our is half navigate strategy our environment business portfolio 'XX dynamic and us are of proven in business will very pleased that with which

As outlook for our fiscal a we are result, raising 'XX.

expectation billion, The acquisition about includes of the $X.XX to revenues expected now of year, organic to $X.XX anticipate of approximately net growth For an revenue $XX Akorn to million X%. still sales. is which billion we full contribute

we around as third offset our anticipate consumer For partially and the season The $XXX QX are we peak strong the consumer areas effects strong our of environment. more. in business These of head reflects thinking million trends modest positive well earlier. recoveries guidance as the stock-up discussed lice or for experienced in cough/cold by quarter, revenues current the

raising also of adjusted 'XX. outlook. EPS full We to $X.XX $X.XX anticipate fiscal our year are We earnings for

For QX, $X.XX. EPS adjusted expected is be to

half earlier, the cash is an in the second strong 'XX for and compared supply tightness as strong growth discussed leverage The back to chain gross includes generation financial continue by and surrounding earnings approximately outlook supply XXX enable margins fiscal Our half. first to the in basis half. costs increase that to impacting the points double-digit earnings of

fiscal be Our year. expect actions the to strong overall to ongoing and well financial earlier, profile, and effects are noted that savings offset these price for cost positioned following helping Chris

attributes our $XXX business also beyond. are into flow the following superior adjusted that it executing or flow, more questions. anticipate business way With of well on brand confident remain to In quarters million and will attributes building year-to-date. we proven $XXX Our of adjusted translate for cash million strong long-term we our look and We our Operator? rewards closing, and that still free that, coming up cash deliver continue cash free forward open I'll generated free to stakeholders results. flow in

Operator

[Operator first Jon Instructions] Andersen Our from comes Blair. of question William

Jon Andersen

in year wanted second to I of guidance like out. thinking the as of guess. kind decel quite a right I with the strong, been bit pretty the the little the way The full is your the in organic year. midpoint the about has XX%, half in of half second why implies talk now almost you growth the the to in fiscal about guidance, start year you of It given organic Could a significant pointed flattish of half the half first that's the year, for the business? second looks think momentum the apparent growth implied. what's I'm revenue

Ron Lombardi

Sure.

start, some me I'll let Jon, additional have comments. Chris So and add then

trends disrupted remind happened like periods, lines It year. beginning first the business trends year. right? comps what about up X-year year, April our on well very with We tough fiscal when in know COVID all is disruption X, was to right, right? talking start last And middle last and I'd everybody unique a we of The period that the thing comp of we're and

Our first sales quarter below were million. $XXX of

come periods COVID in to this things the concentrated And recoveries year. June. then, And get right, unfolds impacted seeing of as last quarter recent You ended most course, the quarters, we're quarter, which the to certain year, comping impact. next all year first of see then continue is we'll what out against

all is the you comps So first remind are thing here that the I'll driver. as not equal big

some numbers? the around maybe So specific Chris,

Christine Sacco

Yes.

Dramamine, of other Just a -- we of reminder, like for on a the benefited So out Compound for being demand do W, $X think talked or seasonality second some We couple related would consumer just some have and things, remarks We products right? around example. for been in that demand about heightened QX. about of the QX quarter. retailer million products our have prepared timing

in travel the because So our back less generally, when that certain continued mentioned. of and be COVID seasonality we for categories, half, about impact of rebound think expectations will an I

incidence expectations. is could wave some if for called second cold, and retailer of cough Regarding a purchases, be there upside our to

guide, So reminder also we left normalized from our that more which the for trends million And half, base the as prior I $X the a I of just timing. that called at why predictable of second year, time. on given this guess QX would the exception is with thought we largely intact prove difficult our business assumptions to fiscal to maintain which most was is call half the This may the season. be it holiday in to less quarter second years particular, prudent past, add than

Ron Lombardi

the very still our consumption portfolio business good fundamentally, John, have. and we and trends that underlying about we So feel

Jon Andersen

dislocations That's might between compared whether point, sure bit the consumption talk see consumption your your shipments that and helpful. that aggregate. there any may and compare consumption shipments in to I'm have have quarter been the how were not where for little consumption But do measures a in business about presentation, in and I it. didn't that On been? the

Ron Lombardi

And as less believe same today, or about Yes. well. we the first more trends organic XX% commented saw remarks consumption the my were the in sales thing in pretty quarter same much I or I in that prepared at so.

Jon Andersen

talked partners -- then are Are themselves terms quarters. dynamic is, respect levels about market are trade might how inventory that you appropriate maintaining seeing anything in disruptions retail Great. you are your any stocks? you resolve -- where of the and understandably, Okay. during experiencing you you've -- And to in with coming

and takes few impacted quarters your have over the the shipments years? the between various Just puts and the and at whole some business plans, which retailers' of your relationship past obviously

Ron Lombardi

Yes.

talking $XXX pretty to quarter this But is, million June quarter. supply the I in we're we sales, other shape deliver us comment is are portfolio retail. be recent the retail seeing First for next question at inventory quarter the general, million across the guess I'll stresses our June. that ended chain and September, In at of backdrop continue the the about. been ended of of all, same companies good many most answer able And ended to shelf. the levels then right, our about XXX-some-odd many we've quarter plus record in the

I in we're like of with think products inventory would see the We'll So more our that at takeaway in have pretty and like more up our inventory shape. although generally we good warehouses, are warehouse, would have in shelf to goes. their the how retailers and to keeping

business supply as our as nimble diverse we are. base of One attributes is a that is

it, to couple hard things So but unfold next of the will how we'll over continue here to focus quarters. predict on

Jon Andersen

online positions one business to the remain that strength of Where today very continues sales online? terms source of the do of there be me. need last you that are online then And you in The by or to the are to continue doing profitability channels perform And context which any you just thinking a about for market? you're terms go of we of implications And to percentage to expect in various versus your within offline? well. brand

Ron Lombardi

Yes.

during buy only to our nicely, it. Amazon player the prepared business and here, we're continues not the continue successful. on the online think about and all remarks, So we We be but And to working of of to to how businesses. it. product, online big part and available investing the it's end we day, our focus the want consumer grow said them At e-commerce as have who to with we partners want with the wherever retail be our we chooses of all

we're position there. to we our margins financial grow online And continued well in So believe continue X to to sales has -- profile going we're to into for in terms this, up. those a hold quarters of

market win size grow result We to and and continue as to online. share market moving a consumers of

advantage continues to it. So we're to to positioned we on a were it well spot us and bright take continue going for focus be to that of,

Operator

Our of Parikh Oppenheimer. next from question comes Rupesh

Rupesh Parikh

of back the Chris, margins just I guess, commentary in So back your gross to on half year. going the

some pressures pricing So expect you XX% given next actions, to are to you do But guys that and back level other would taking expect that guys you there. actions presumably just year? get up

Christine Sacco

Rupesh, so with the helps just of #X brand. components, having have the start us right, as of a we reminder, also I'll cost a diversify benefit diverse our as portfolio, as well having mostly benefit it

back some So our previously our approximately guidance in incremental we of inflationary the is contemplated for fiscal points XX%. and pressure had 'XX going XXX guide half. It's pressures basis about current in

as executed savings mentioned pressures we these my plan actions So tactical some combination -- of already in through I remarks, pricing and through these actions. to pricing this a We've prepared mitigate year. cost

unfold, to important hearing others I But environment put in these from action. space. what think continues it's this you in As we further given probably are contemplating to inflationary perspective, are the pressures

about pressure to updated pricing $XX is calling $XX already here. annual taken million guidance million on that $XX actions an Our approximate We've of basis. for million

runs and historic expect to your So at for recover over and this P&L, pricing and there's time. the reason profile point, business between it of our lag not margin timing costs of but more through no we when savings always a -- levels to to have in course,

Rupesh Parikh

to and guess And really Ron, stocking helpful just retailers earlier That's potentially color. back on Great. I Okay. consumers your going commentary then, up.

impact how up of much retailer saw benefit way to the you you are there during the the any Is or side So or it? quarter? consumers the talking quantify quantify

Ron Lombardi

that's bought mean of fit waiting future estimate Yes. shelf sitting use. was of case. to how I and much hard that the is product kind Most on portfolio our for doesn't

fit our revenues X%, portion a that might total of in that. have We small cough/cold, X%

above changing habits it about the outlook our eye consumer of keeping quarter. the for was an quarter, hard sales maybe half came we're of of But quarter, timing out million really predict into half So it. the increase of for think the the on second we here. $XX the It's that to second

Rupesh Parikh

final color. helpful then maybe one That's Okay. question. And

there. The commentary far Just what so on you the seeing are positive is seeing thus integration with TheraTears. and But just guys surprises in the any far business?

Ron Lombardi

continues the other as surprises So an than we that check wrote opportunity thought as was it when far, to be no great it day. and we closed

a pretty our here it. So at diligence well do is good we defined, and job

So find in tend we and dig business out lot the about a during diligence. to

the feel optimistic opportunities the long-term So about we to growth continue brand. for very

Operator

next Jefferies. of Our Instructions] from question Steph comes [Operator Wissink

Steph Wissink

actually just Ron, that I I this drug the about chance talk is your the a a in been one a bit a you inflection, for in It of in noticed like It's support. comments point about an you prepared to give I you be you. past pressure. point traffic. seems on said channel, has could talked little that which wanted channel, it more think to of

in So you you're what observing channel, would helpful. be bit that share about a just could little that if

Ron Lombardi

Sure.

observation So easy channel up traffic foot announcing. the their for have that's I way are in what people that drug And gone the in shots. COVID as think retailers the is is

show chance big off week. them up in buy shelf performance the more I of your strong it. a that the The and take think more you people just one to the this have store, announced players product get

riding we're in So which wave we're our broadly a now. traffic. product wherever that channel increase buy making meaningfully that's is right go for seeing the the our seeing. out. I'll my trend of that there sure up to waiting it's is how drug that so Time of the them. comment, available focused it, earlier to consumer will chooses in that we're on foot sales result And that as that channel We're tell kind But back that plays in

Steph Wissink

-- have for and Ron, the X maybe it's one follow-ups. Chris, other a Rupesh's follow-up And other then I question. you, to

on inventory for you'd rating $XX we on more, of just be if any million a wondering the is looks better have then, year. velocity delivering there's which you sales. strong business Chris, capital the a for couple the your working think of business business? than you that a TheraTears. still balance one, there should in of down can that you seasonality and really quarters function the is with start you've step the Akorn of that Is to a run on the had think is you'll let's to more I to It think future? into I'm So that Ron Or that in that you've that growth do business? mindful this sheet just period of longer-term support inventory, like but temporary you the sheet the mentioned balance invest hold And inventory little bit like experienced

Ron Lombardi

Actually, both I'll questions. of let Chris those take

Christine Sacco

Okay.

seasonality really TheraTears you acquisition. compare from Eyes. now, around the we're back our benefit after that to a close just an we as not are bit But with Clear folks little like quarter to out getting seeing difficult we're Eyes certainly, of So right always If first call a it business, seeing business. perspective, Clear

I XX% was just September remember what in there. think XX.X%, new the period. in I've above we say, opening around my at So slightly which in or called that -- inventory, had Akorn for balance please inventory the this got XX should Concerning sheet, I But

we little just looking about is customers. environment, looks So million. a to really support bit my sure make $X lower like base our In it than business this by can we're

that like be and as through uncertain so time. now for the we And the we'd focus number to higher as and to management this that's working continue priority opposed capital

Ron Lombardi

our service retail quite to customers, and #X our we really is aren't service to would on Historically, focus Yes. them like levels be. levels where our

support So lower our we of business at that haven't we inventory. found can levels

service in Our best-in-class about think way And the to financial invest we profile allows have us that's inventory to it. levels.

more see can we'd service inch our we time. up to see So like over levels so that inventory

Operator

comes Our Mitchell next Sturdivant of Pinheiro from question Co. &

Mitchell Pinheiro

are least inflation, seeing move ad digital ad on the the spend any Apple's at the given side, through So digital changes you any inflation, industry.

Ron Lombardi

a of expect general, other like the some right, In our lot inflation. inflation arena, seeing Mitch. most business, in cases, of areas it driven advertising in by in we we're just marketing and Yes, wage

the effective anticipating we're we'll on So to areas most and pivot investment. our it, continue of focus the

So it's something planning around, about Mitch. thinking we're and

Mitchell Pinheiro

inflation second side? your then costs, were there's any note you and going ingredient was I is But anything half the impact on the just theme. input on inflation And Okay. there curious is delineated costs, Obviously, staying what inflationary the of to you there whether that be.

Ron Lombardi

begin Chris talked We've in, to Yes. see as inflationary price we've about. executing been increases. begun pressures And creep to

to to focus on continue cost them. We reductions address

important inflation think us it million. the around thing the is I for is that magnitude of $XX

You're hearing of other talk about CPG that pressures hundreds inflationary dollars companies of many chasing. they're of millions

So over it, ahead Mitch. to lapse focused But a may for a bit little have of it. our most all ourselves part, we're We of it, get we're half which the second outlook reflects. on

Mitchell Pinheiro

your Is I on any of pushback mean, there conversation? any any by any -- customers pricing

Ron Lombardi

CPG company about points, suppliers, think we even For the one right? hearing talk most part, no, their of basis is inflationary X,XXX right, because it's something that heard of whatever they're from impact. one it every single I

position not puts terms pricing with unique addressing there. out share we're a significant us And market of in So at these. brands to products again, effective executing having our be leading for in

Mitchell Pinheiro

was recap terms in other? than e-commerce, call to strength excluding particular everything then some your Was what Anything out? -- there? channel, equal the And were any Okay. better of or

Christine Sacco

back Yes, Mitch, traffic in we brand. out and convenience drug, out pretty Goody's foot increased get BC, with That our we've that's called about and folks as year-over-year Eyes -- travel, brand, Clear right, terms talked really benefited of the was comps was but strong. probably

So those quarter. big the for this probably outliers are

Mitchell Pinheiro

Okay.

relative of, those particularly Oral categories Women's else Analgesics, but to sort say, certainly and underperformers, will about were that you out anything Health categories X before had I Care. want -- Anything that haven't underperformers: You were called if notable? you

Ron Lombardi

the of kind term or of would impact that of those any year remainder trends or comps. got nothing longer There's anything notable really We've the expected oddities some categories. over of for the

an with for quarter outlier strong Women's first extremely e-commerce. particularly into last The year was Health shipments,

some got issues we've quarter-to-quarter, from timing but here comp call nothing and to So some really out.

Mitchell Pinheiro

is Okay. I for right And step anything number for there half? it any Is called -- of Is quarter? You that not then that the million, is Or excluding more out, the just there the level $XX the G&A the apologize in in question. up. unusual hearing. second one back

Christine Sacco

QX than Mitch, did down No, that really of Yes. expenses. quarterly for a call terms about on for for always QX just get reasons would flow dollars is higher certain comparable. step full be in you the us to other is and I us quarters. will And and think I pretty basis of The for would think But there. of G&A year timing QX sequentially. X.X%

Mitchell Pinheiro

and comments the advertising -- the I And your back is regarding and Okay. half? was then marketing I but think what spend missed this, for

Christine Sacco

talked quarter. be year, advertising XX% about the We've with in marketing third to the and XX% for approximately

Operator

showing further turn this questions to I'd I'm like remarks. to call at the any Ron back for over no closing Lombardi time.

Ron Lombardi

operator, Good. everyone joining to to forward updates. you. future today, Thank thanks we Thank look for and you, us and

Operator

Thank all Thank does conference. you. and gentlemen, conclude Ladies this participating. today's you for

You may day. great now disconnect. Have a

Prestige Consumer Healthcare (PBH) 6 Nov 212022 Q2 Earnings call transcript