Loading...
Loading...
- Perrigo Company plc PRGO has posted Q2 sales of $981 million, an increase of 3.4% Y/Y, missing the consensus of $1.02 billion.
- The sales growth was primarily due to an increase in most businesses and favorable currency movements, partially offset by Y/Y customer inventory reductions and a historically weak cough/cold season. Organic net sales growth was 0.5%.
- Consumer Self-Care International Segment sales increased 11.7% to $359 million. Organic net sales grew 4.3%.
- Consumer Self-Care Americas Segment reported sales of $622 million, down 0.9% Y/Y.
- Adjusted operating income was $118 million, a decrease of 10.7%, due to higher operating expenses primarily to reinstate brand and marketing investments to pre-COVID-19 levels, lower volumes, unfavorable plant overhead absorption, higher input costs.
- Adjusted diluted EPS of $0.50 declined from $0.59 in the prior-year quarter due primarily to reinstatement of brand and marketing investments. The consensus estimate was $0.62.
- Outlook: Perrigo reaffirmed fiscal 2021 organic net sales growth outlook of 3% and expected adjusted diluted EPS towards the lower end of guidance of $2.50 - $2.70 (consensus $2.59).
- Price Action: PRGO shares are down 11.70% at $43.44 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in