Perrigo Company Posts Loss From Cont. Ops. In Q3; Reaffirms FY24 Adj. EPS Outlook

(RTTNews) - Perrigo Company plc (PRGO) reported a third quarter loss from continuing operations of $17.6 million compared to profit of $15.4 million, last year. Reported loss per share was $0.13, compared to profit of $0.11. Adjusted EPS was $0.81, compared to $0.64. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.81, for the quarter. Analysts' estimates typically exclude special items.

Net sales were $1.1 billion, declined 3.2% versus the prior year quarter. Organic net sales decreased 2.4%, for the quarter. Analysts on average had estimated $1.12 billion in revenue.

The company now expects fiscal 2024 organic net sales and reported net sales outlooks towards the lower end of previously stated ranges of organic net sales decline in a range of 3% to 1%, and reported net sales decline in a range of 5% to 3%. The company reaffirmed adjusted EPS outlook of $2.50 to $2.65.

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