Prestige Consumer Healthcare

Prestige Consumer Healthcare sells over-the-counter health and personal care products in North America, Australia and other markets. Its brands include Clear Eyes eye drops, Dramamine, Fleet, Monistat, Summer's Eve, DenTek, Debrox, TheraTears, Hydralyte and, since June 2026, Breathe Right nasal strips. It sells mainly to large retailers, drugstores and online sellers, and it earns money from the sale of these branded products.

Most production is done by outside manufacturers, but it also has its own plants, including Pillar5, a sterile eye care plant in Canada that it bought in December 2025. Revenue was $1,088.7 million in the year to March 31, 2026. The company spends on advertising to keep its brands at the top of small product categories.

The market fears that Prestige has lost part of its eye care business and that its new debt leaves little room for error. Its suppliers could not make enough Clear Eyes, so revenue fell 4.3% in the year to March 2026. Prestige then bought Breathe Right for $1.045 billion with a new term loan, so net debt rose to about $2 billion at June 30, 2026. Investors doubt that Pillar5, the eye care plant it bought, can raise output soon enough.

For the gap to close, three things must be true. Clear Eyes output at Pillar5 must become steady. On November 5, 2026, Prestige cut its fiscal 2027 outlook because Clear Eyes production varied, so organic revenue must stay about flat this year and grow again in fiscal 2028. Breathe Right and LaCorium must add about $190 million of revenue this year and lift the gross margin to just above 57%.

Adjusted free cash flow must reach $265 million or more, and the company must use it to reduce debt. The fiscal Q3 report in about February 2027 is the next test, and the full-year report in May 2027 shows whether the plan worked. If supply and debt reduction stay on plan, the gap can close over the next four to six quarters.

1. Nov 5, 2026Failed

   Fiscal Q2 2027 results: eye care supply and debtPositive organic revenue growth with better eye care shipments and lower net debt pass; a new fall in eye care sales or a cut to the outlook fails.Outcome: Organic revenue fell 1.6% with lower Clear Eyes sales, and Prestige cut its fiscal 2027 revenue, EPS and free cash flow outlook because Clear Eyes production at Pillar5 varied.
2. Feb 5, 2027 · est.Pending

   Fiscal Q3 2027 results: Breathe Right and cash flowResults on track for adjusted free cash flow of $265 million or more and adjusted EPS of $4.48 to $4.55 pass; another cut to the outlook fails.
3. May 2027 · est.Pending

   Fiscal 2027 results and fiscal 2028 outlookOrganic growth of 1% to 3% for the year, eye care back to growth and net debt well below $2 billion pass; another year of eye care decline fails.

Every passed and failed checkpoint across all picks

• November 5, 2026Prestige reported fiscal Q2 2027 results. Revenue rose 22.7% to $336.3 million with $65.1 million from Breathe Right and LaCorium, but organic revenue fell 1.6% because of order timing and lower Clear Eyes sales. GAAP EPS fell to $0.53 from $0.86, and adjusted EPS rose to $1.13 from $1.07. Prestige cut its fiscal 2027 outlook to revenue of $1,280 million to $1,290 million, about flat organic revenue, adjusted EPS of $4.48 to $4.55 and adjusted free cash flow of $265 million or more, because Clear Eyes production at Pillar5 varied and will limit supply in the second half. It said that the rest of the portfolio and the acquisitions are on plan.
• October 14, 2026Prestige said that it will report its fiscal 2027 second quarter results before the market opens on November 5, 2026.
• August 14, 2026Jeffrey Zerillo, Senior Vice President of Operations, retired from the company.

Last earnings

November 5, 2026 (8-K on sec.gov)

Next earnings

Expected about February 5, 2027. The company has not confirmed the date.

• 10-QQuarterly report for the period ended Sep 30, 2026Filed November 5, 2026 · pbh-20260930
• 8-KEarnings release and Investor disclosureFiled November 5, 2026 · Press release and exhibits
• 8-KChange of directors or officersFiled August 14, 2026 · pbh-20260810
• 10-QQuarterly report for the period ended Jun 30, 2026Filed August 6, 2026 · pbh-20260630
• 8-KEarnings release and Investor disclosureFiled August 6, 2026 · Press release and exhibits
• 8-KNew material agreement and New debt or financial obligationFiled July 15, 2026 · Read it on sec.gov
• 8-KNew material agreement and New debt or financial obligationFiled July 6, 2026 · pbh-20260630
• 8-KNew material agreement and Acquisition or sale completedFiled June 16, 2026 · Read it on sec.gov
• 10-KAnnual report for the period ended Mar 31, 2026Filed May 14, 2026 · pbh-20260331
• 8-KNew material agreement and Earnings releaseFiled May 13, 2026 · Press release and exhibits

Every filing on SEC EDGAR (CIK 1295947)

• Clear Eyes supply depends on a small number of sterile plants, including Pillar5. Production at Pillar5 varied in fiscal Q2 2027, and Prestige expects limited Clear Eyes supply in the second half. If output does not become steady, eye care sales can fall more, and competitors can take shelf space.
• Net debt rose to about $2 billion after the Breathe Right purchase, and most of the new term loan has a floating rate. A fall in cash flow or higher rates would slow debt reduction.
• Prestige must combine two new businesses at the same time as it fixes eye care supply. Breathe Right must grow under new owners for the price to make sense.
• Store brands sell similar products at lower prices. If consumers spend less, they can switch to cheaper store brands.

Prestige funds itself with senior unsecured notes, a term loan and an asset-based revolving credit line. At September 30, 2026, it had $46.5 million of cash and $2,110 million of debt principal: $600 million of 3.750% notes due April 2031, $400 million of 6.250% notes due July 2034, which it issued in July 2026 to repay its notes due 2028, and a $1,110 million term loan due June 2033 at SOFR plus 2.00%. Read more

Prestige Consumer Healthcare does not pay a dividend.

Source: company filings and market data, read on November 13, 2026.