Prestige Consumer Healthcare Inc.

Good morning, everyone. Thank you for standing by. And welcome to the third quarter 2022 Persuasing Consumer Healthcare, Inc. Earnings Conference Call. At this time, all participants are on a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. So as a question during the session, you will need to press the star, then the one key on your touchtone telephone. If you recall obvious reasons at any time, please press star, then zero. I would now like to hand the conference over to your speaker host, Bill Tripolioli. Vice President of Investor Relations Treasury. Please go ahead.

Thanks, Operator, and thank you to everyone for joining today. On the call with me are Rahm Lombardi, our Chairman, President, and CEO, and Christine Sacco, our CFO. On today's call, we're going to review the results of the third quarter of fiscal 2022, provide an update on our full year outlook, and then take questions from analysts. There's a slide presentation to accompany today's call. It can be accessed by visiting PrestigeConsumerHealthcare.com, clicking on the Investors link, and then on today's webcast and presentation. Remember, some of the information contained in the presentation today includes non-GAAP financial measures, reconciliations to the nearest GAAP financial measure included in today's earnings release and slide presentation. On today's call, management will make forward-looking statements around risks and uncertainties, which are detailed in a complete safe harbor disclosure on page two of the slide presentation that accompanies the call. These are important to review and contemplate. As everyone on the call today is well aware, business environment uncertainty remains heightened due to COVID-19 and continues to have numerous potential impacts. This means the results could change at any time and the forecasted impact of risks considerations is a best estimate based on the information available as of today's date. Further information concerning risk factors and cautionary statements are available in our most recent SEC filings and most recent company 10-K. I'll now hand it over to our CEO, Ron Lombardi. Ron?

Ron Lombardi Thanks, Phil. Let's begin on slide five. We are very pleased with our Q3 results, which exceeded our expectations and continued the strong business momentum we experienced in the first half. Revenues of $275 million in Q3 grew 15 percent versus the prior year, a consistent performance with trends experienced year to date. Our base business trends remain robust across the majority of our portfolio, aided by strong consumer demand and our time-tested brand building. Additionally, the quarter experienced sales and consumption rebounds in certain categories that have been impacted by COVID-19, most notably cough and cold. This fueled incremental Q3 sales versus our prior expectation discussed in November. And our international segment also increased double digits to record quarterly revenues driven by broad-based strength for the segment's flagship brand, Hydrolyte. Solid sales growth continues to translate into strong earnings and free cash flow. We generated about $1 of EPS and free cash flow of about $65 million, both up double digits versus prior year. Lastly, we continue to be disciplined around use of cash generated by the business. The acquisition of Acorn consumer brands completed earlier in the year, continues to perform well and align to our expectations. We finished the quarter at 3.9 times net leverage, ahead of our previous guidance to be below four times by year end, which further enables future capital allocation optionality. Now let's turn to page six for a deeper dive into Q3 performance. Our solid Q3 sales and profit performance was achieved against a macro backdrop of a new variant of COVID-19 during the quarter, as well as a dynamic cost and supply chain environment. This is a testament to the execution of our proven business strategy that continues to allow us to navigate challenges like these successfully. Three major attributes shown on the page helped enable this during the quarter. At left, We have a reminder of the power of our portfolio's diversification. Our brands are trusted by consumers and are wide ranging across categories. This has allowed us to be agile and opportunistic around marketing opportunities as they have occurred throughout the pandemic. In the middle of the page is a reminder of the COVID-19 rebound we've experienced. This broadened out again in Q3 with accelerating cough and cold demand versus prior year. Furthermore, consumers proactively sought hydration products during Q3, which benefited Hydrolyte in Australia. Finally, on the right side of the page is supply chain. Like others, we are experiencing the headwinds associated with supply chain constraints and inflationary pressures. Fortunately, we are well positioned to navigate this dynamic environment. The diversification of our supplier base gives us the agility to adjust to a volatile supply environment helping to ensure continuity in our supply chain and support growing sales. So to summarize, we are leveraging our portfolio's attributes, including its broad diversification across categories, to drive long-term growth. We are experiencing a solid rebound in multiple COVID-impacted categories, and while experiencing macro headwinds, we believe we are well-positioned to navigate supply chain challenges. Now I'll turn it over to Chris to walk through the financials.