Perrigo (PRGO) Tops Q2 EPS by 15c, Offers Guidance

Perrigo (NYSE: PRGO) reported Q2 EPS of $1.03, $0.15 better than the analyst estimate of $0.88. Revenue for the quarter came in at $1.2 billion versus the consensus estimate of $1.23 billion.

GUIDANCE:

Perrigo sees FY2020 EPS of $3.95-$4.15, versus the consensus of $4.06.

• The Company reaffirms its fiscal 2020 outlook with expected net sales growth of 6% to 7% highlighted by organic net sales growth of approximately 3%. Adjusted diluted EPS is expected to be in the range of $3.95 to $4.15. The Company reaffirms its adjusted EPS guidance despite the addition of $0.12 - $0.15 per adjusted diluted share of incremental COVID-19 related costs and a $0.06 per share impact from the divested Rosemont Rx business, which the Company sold on June 19, 2020.
• The Company cannot reconcile its expected adjusted diluted earnings per share to diluted earnings per share under "Fiscal 2020 Outlook" without unreasonable effort because certain items that impact net income and other reconciling metrics are out of the Company's control and/or cannot be reasonably predicted at this time.

For earnings history and earnings-related data on Perrigo (PRGO) click here.

You May Also Be Interested In

• Kura Sushi (KRUS) Tops Q3 EPS by 3c; offers outlook
• JPMorgan Upgrades Wanhua Chemical Group (600309:CH) to Overweight
• Atoss Software (AOF:GR) PT Lowered to EUR135 at Berenberg