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Perrigo Company plc PRGO reported adjusted earnings of 93 cents per share in the fourth quarter of 2024, beating the Zacks Consensus Estimate of 92 cents. The reported figure increased 8% year over year, primarily due to improved margins and lower variable expenses.
Net sales declined 1.6% year over year to $1.14 billion, missing the Zacks Consensus Estimate of $1.20 billion. The downside was due to the loss of sales stemming from exited businesses and product lines.
During the quarter, sales dropped 2.1% year over year on account of exited businesses and product lines and another 0.1% from unfavorable currency movement. At constant currency (excluding foreign currency translation), sales fell 1.5%. Organic net sales (excluding the effects of acquisitions and divestitures and the impact of currency) rose 0.7%.
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Year to date, shares of Perrigo have lost 6.1% against the industry’s 11% growth.
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More on PRGO’s Earnings
Perrigo reports its results under the following segments — Consumer Self Care Americas (CSCA) and Consumer Self Care International (CSCI).
CSCA: The segment’s net sales in the quarter came in at $744 million, flat year over year. Though sales grew across the Nutrition, Skin Care and Women's Health categories, sales in the Pain & Sleep Aids, Upper Respiratory and Digestive Health categories offset this growth. Organic net sales rose 0.1%.
CSCI: The segment reported net sales of $394 million, down 4.5% from the year-ago period’s levels due to product line exits and unfavorable currency movements. At constant currency rates, sales were down 4.1% year over year. Organically, sales increased 1.8%.
Full-Year 2024 Results
Perrigo reported revenues of $4.37 billion, down 6.1% year over year. Net sales also fell 4.5% organically.
The company reported adjusted earnings of $2.57 per share for 2024, down 0.4% year over year.
PRGO’s 2025 Guidance
Perrigo will be hosting a virtual Investor Day today, where management will share the company’s 2025-2027 strategic plan to boost performance. During the event, management will also issue its financial guidance for the full year 2025.
PRGO’s Zacks Rank
Perrigo currently has a Zacks Rank #3 (Hold).
Perrigo Company plc Price
Perrigo Company plc price | Perrigo Company plc Quote
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