Perrigo (PRGO) Tops Q1 EPS by 3c

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Go back to Perrigo (PRGO) Tops Q1 EPS by 3c

Perrigo (PRGO) Announces Actions Aimed at Increasing Profits; Will Cut Global Workforce by ~6%

October 22, 2015 6:09 AM EDT

Perrigo (NYSE: PRGO) announced it is taking actions to drive substantial profit growth in 2016 and beyond. In total, the actions are expected to add incremental benefits of $175 million when the full run rate of the plan is achieved. With the inclusion of approximately $0.153 in EPS derived from $500 million in share repurchases to be completed in 2015, Perrigo expects to deliver adjusted EPS of approximately $9.45 in 2016. This represents a 22 percent4 increase over the calendar year 2015 EPS guidance midpoint.

"The actions we are announcing today are the next step in our strategy to leverage the... More