During the Q3 FY 2026 earnings call, CEO Ron Lombardi stated that Prestige Consumer Healthcare anticipated a 57% adjusted gross margin in Q4. Management further projected projected free cash flow of $245 million or more for the full year alongside an adjusted EPS of $4.54. When Q4 results were reported, adjusted gross margin came in at approximately 55.4%, full-year free cash flow totaled $228 million, and adjusted diluted EPS was only 4.38; all three missed Prestige’s internal projections.
Separately, Prestige Consumer Healthcare completed a $150 million acquisition of Australian skin-care firm LaCorium during the period. The acquisition was not discussed on the Q3 earnings call and was absent from the forward guidance framework presented to investors. PBH shares declined sharply following the Q4 disclosure.
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