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Prestige Consumer Healthcare Inc.(PBH) has released its Condensed Consolidat ed Statements of Income and Comprehensive Income for the three months ended June 30, 2023, revealing positive financial results. The company reported a net income of $53.3 million for the second quarter, highlighting its strong performance during the period. Additionally, the revenue figures demonstrate growth, with the company achieving $279.3 million in net sales.
Net Income for Q2 2023
During the three months ended June 30, 2023, Prestige Consumer Healthcare Inc. achieved a net income of $53.3 million. Compared to the previous year's net income of $55.3 million for the same period, the company's performance remained robust despite slight variations.
Revenue Increase - Net Sales
Prestige Consumer Healthcare Inc. experienced an increase in revenue during the second quarter of 2023. The company's net sales amounted to $279.3 million, reflecting a positive trend compared to the previous year's net sales of $277.0 million for the same period. This growth in revenue underscores the effectiveness of the company's strategies and its ability to capture market opportunities.
The total revenues, including other revenues besides net sales, reached $279.3 million for the second quarter of 2023, compared to $277.1 million in the same period in 2022.
The company's financial health is further demonstrated in its Condensed Consolidated Balance Sheets as of June 30, 2023. Prestige Consumer Healthcare Inc. reported total assets of $3.35 billion, with current assets amounting to $391.8 million. The balance sheet shows a strong position in property, plant, and equipment, totaling $69.9 million, along with significant intangible assets at $2.34 billion.
On the liabilities side, the company reported total liabilities of $1.87 billion. This includes current liabilities amounting to $147.3 million and long-term debt of $1.32 billion. The company's stockholders' equity stands at $1.48 billion, reflecting a stable financial base.
Prestige Consumer Healthcare Inc. has demonstrated its resilience and continued growth in the second quarter of 2023. With a net income of $53.3 million and revenue reaching $279.3 million, the company's financial performance remains robust. The company's solid position in assets and equity further reinforces its ability to navigate the competitive landscape and deliver value to its stakeholders.