Perrigo (PRGO) Misses Q2 EPS by 2c; reaffirms outlook

Perrigo (NYSE: PRGO) reported Q2 EPS of $0.57, $0.02 worse than the analyst estimate of $0.59. Revenue for the quarter came in at $1.06 billion versus the consensus estimate of $1.08 billion.

GUIDANCE:

Fiscal 2025 Outlook

Perrigo sees FY2025 EPS of $2.90-$3.10, versus the consensus of $3.04.

The Company reaffirms its fiscal year 2025 outlook. Reported and organic net sales growth are expected towards the lower end of their respective ranges, primarily due to infant formula industry dynamics and challenging market consumption trends. Details provided below:

Reported net sales growth of 0% to 3%.
Organic net sales growth of 1.5% to 4.5%.
Adjusted gross margin of approximately 40%.
Adjusted operating margin of approximately 15%.
Adjusted diluted EPS range of $2.90 to $3.10, equating to growth of 13% to 21%.
Operating cash flow conversion to adjusted net income of approximately 100%.
Free cash flow4 as a percentage of net sales of approximately 6%.
Net leverage of approximately 3.5x adjusted EBITDA.

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

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