secwatch.observer — SEC 8-K summary
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Issuer:     PERRIGO Co plc (PRGO)
CIK:        0001585364
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001585364-24-000066
Event type: earnings
Sentiment:  neutral
Materiality: 0.90
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1585364/000158536424000066/0001585364-24-000066-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1585364/000158536424000066/prgo-20240507.htm
  HTML page:      https://secwatch.observer/filing/0001585364-24-000066

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