Prestige Brands Holdings Is Up More Than 11%

Shares of Prestige Brands Holdings, Inc. PBH were trading higher by more than 10 percent on Thursday after the company reported its third quarter results.

Prestige Brands Holdings said that it earned $0.53 per share in the third quarter on revenue of $200.2 million. Wall Street analysts were expecting the company to earn $0.49 per share on revenue of $197.6 million.

By segment, North American OTC Healthcare revenue rose 2.6 percent from a year ago to $165.1 million, International OTC Healthcare revenue fell 11.2 percent to $13.8 million and Household Cleaning revenue rose 0.4 percent to $21.3 million.

Adjusted net income for the quarter rose 11.6 percent from the same quarter a year ago to $28.4 million.

"For the fiscal year ending March 31, 2016, we are reconfirming our previously provided outlook, which recognizes the impact of foreign currency fluctuations, and excludes any potential sales, earnings or acquisition and integration costs from DenTek in the fourth fiscal quarter ending March 31, 2016," said Ron Lombardi, President and CEO. "For the second half of the fiscal year, we continue to expect revenue growth between +0.5% and +1.5%, full year revenue growth of +10% to +11% and adjusted free cash flow of $175 million or more. We continue to anticipate fiscal 2016 adjusted earnings per share to be at the high end of our previously provided range of $2.05-$2.10, or slightly above."