Perrigo Q1 adj EPS $0.45 (+35.6% YoY); IRS resolves $843M claim; CEO to step down

PERRIGO Co plc

2023-Q1 EPS reported -$0.02 revenue$1,181,700,000

Net sales $1.2B (+10.0% YoY); organic net sales +6.4%; CSCI segment achieved record sales with constant currency growth of 23.6%.
GAAP EPS loss $(0.01); adjusted diluted EPS $0.45, up from $0.33 (35.6% increase). Adjusted gross margin expanded 400 bps to 37.5%.
IRS NOPA of $843 million fully withdrawn with no payment required; interest rate NOPA also settled.
CEO Murray Kessler announces plan to transition to a next-generation leader; no successor or timing announced.
FY2023 guidance reaffirmed: organic net sales growth 3%-6%, adjusted diluted EPS $2.50-$2.70.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PERRIGO Co plc reported first quarter ended April 1, 2023 results: revenue $1.2 billion, EPS a loss of $(0.01). Guidance reaffirmed.

Period: first quarter ended April 1, 2023
Revenue: $1.2 billion
EPS: a loss of $(0.01)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Perrigo Reports First Quarter Fiscal Year 2023 Financial Results From Continuing Operations First Quarter 2023 Highlights: • First quarter net sales grew 10.0% versus the prior year quarter to $1.2 billion. Constant currency net sales (1) increased 13.0% and organic (2) net sales grew 6.4% compared to the prior year quarter. • Consumer Self-Care Americas ("CSCA") and Consumer Self-Care International ("CSCI") segments delivered strong net sales growth of 7.6% and 14.7%, respectively, compared to the prior year quarter. CSCI achieved record net sales in the quarter, highlighted by constant currency net sales growth of 23.6% compared to the prior year quarter. • First quarter GAAP ("reported") gross margin was 35.0%, a 360 basis points improvement compared to the prior year quarter. Non-GAAP ("adjusted") gross margin was 37.5%, a 400 basis points improvement compared to the prior year quarter. • First quarter reported earnings per share ("EPS") was a loss of $(0.01), compared to a loss of

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Source: SEC EDGAR

accession 0001585364-23-000055

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