Perrigo Reports Q1 2024 Adjusted EPS of $0.29, Above Projection; Net Sales Down 8.4%

PERRIGO Co plc

2024-Q1 EPS reported $0.01 revenue$1,082,100,000

Q1 net sales $1.1B, down 8.4% vs prior year; organic net sales declined 7.0% due to infant formula and SKU prioritization actions.
Adjusted diluted EPS of $0.29, $0.06 ahead of projection primarily from infant formula shipment timing; down from $0.45 YoY.
Reaffirms FY2024 outlook: organic sales growth 1%-3%, adjusted EPS range $2.50-$2.65, interest expense ~$180M.
Infant formula impacted adjusted gross margin by -280 bps and adjusted EPS by -$0.30 in the quarter.
Svend Andersen, EVP & President CSCI, to retire; Roberto Khoury appointed as successor effective August 1, 2024.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PERRIGO Co plc reported first quarter ended March 30, 2024 results: revenue $1.1 billion, EPS $0.03. Guidance reaffirmed.

Period: first quarter ended March 30, 2024
Revenue: $1.1 billion
EPS: $0.03
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Business Recently Announced Plan to Divest HRA Rare Diseases Business; Expects to Redeploy Proceeds for Debt Paydown First Quarter 2024 Highlights: • First quarter net sales of $1.1 billion declined 8.4% versus the prior year quarter. First quarter organic 1 net sales decreased 7.0%, due primarily to 1) -4.3 percentage points impact due to lower net sales in infant

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Source: SEC EDGAR

accession 0001585364-24-000066

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