PRGO
Perrigo Company plc13.02
+0.18+1.4%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A details H2 recovery drivers
Q&A fleshed out 2026's second-half rebound, attributing it to transitory factors like absent price hikes and trade-downs normalizing, plus 60-65% of innovation, distribution gains, and retailer demand gen timed for H2. Category details emerged: VMS and digestive resilient, cough/cold and pain pills weak, allergy strong. Infant formula eyes low-to-mid single-digit sales growth to clear inventory during strategic review. Margins hit by temporary under-absorption from H2 2025 softness, offset by $80-100M savings program. Leverage holds flat, sub-3x goal pushed to 2-3 years. Answers largely reaffirm prepared realism. Q&A adds helpful tactical color.
Key Stats
Market Cap
1.79BP/E (TTM)
-Basic EPS (TTM)
-0.21Dividend Yield
0.09%Recent Filings
8-K
Perrigo Q4 sales dip, impairment hits
Perrigo reported Q4 net sales of $1.11B, down 2.5% YoY amid soft OTC demand and infant formula woes, but adjusted EPS hit $0.77. A $1.3B goodwill impairment hammered GAAP results, triggered by share price drop and market shifts. New program targets $80M-$100M annual savings; FY26 CORE adjusted EPS outlook $2.25-$2.55. Impairments signal valuation risks.
10-K
FY2025 results
Perrigo's FY2025 net sales fell 2.8% to $4.25B, with CSCA down 4.0% on infant formula and digestive health weakness while CSCI held flat on currency tailwinds; Q4 momentum faltered as soft consumption hit volumes despite store brand share gains. Gross margins slipped 20bps to 35.1% from divestitures and inflation, yet Supply Chain Reinvention delivered $157M annualized savings. Operating loss swung to $(1.12B) on $1.32B goodwill impairments in both segments from share price pressure and infant formula dynamics—no quarterly breakdowns disclosed. Debt stood at $3.6B with $532M cash; $159M dividends paid, no buybacks. Supply disruptions from Ukraine and Middle East conflicts threaten quarterly momentum.
8-K
Perrigo Q3 sales dip; reviews Infant Formula
Perrigo released Q3 net sales of $1.04B, down 4.1% YoY amid soft OTC consumption, yet OTC store brands grabbed share in 5 of 7 categories. Infant Formula plunged 21.5% on tough comps and lost distribution. Strategic review launched for Infant Formula (~$360M sales); outlook cut to -2.5% to -3.0% sales, $2.70-$2.80 adjusted EPS. Portfolio shakeup accelerates.
10-Q
Q3 FY2025 results
Perrigo posted Q3 net sales of $1,043.3M, down 4.1% y/y from $1,087.5M amid soft category consumption and Nutrition declines, yet gross margin held at 36.1% versus 37.2% thanks to Supply Chain Reinvention gains. Operating income slipped to $72.6M from $80.4M (7.0% margin), while diluted EPS from continuing operations improved to $0.09 from -$0.13, reconciling to 138.9M shares; YTD operating income swung to $164.9M profit from -$1.3M loss. Cash fell to $432.1M with $63.1M operating cash flow less $66.6M capex (no FCF disclosed); long-term debt steady at $3.6B under Term Loans due 2027/2029 and various notes, Revolver available, covenants met. Dermacosmetics held for sale at $280.5M assets. Pricing pressures from customers and consumers loom.
10-Q
Q2 FY2025 results
Perrigo's Q2 sales dipped 0.9% y/y to $1.056B, yet operating income swung to $45.4M from a $26.5M loss, thanks to slashed restructuring costs and no repeat of last year's $34.1M impairments. Gross margin slipped to 34.4% amid infant formula scrap and U.S. OTC volume dips, but CSCA nutrition rebounded 11% on store-brand recovery while CSCI's Solpadeine supply fix boosted pain aids 26%. Cash fell to $454M with $11M operating flow; debt holds at $3.65B under compliant covenants. Free cash flow not disclosed in the 10-Q. Ongoing price-fixing suits from the old Rx unit linger as a litigation drag.
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