Perrigo's Q3 Earnings Fall Short of Estimates, Sales View Updated

Zacks11-07

Perrigo Company plc PRGO reported adjusted earnings of 81 cents per share in the third quarter of 2024, missing the Zacks Consensus Estimate of 82 cents. The reported figure increased 26.6% year over ...

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The reported figure increased 26.6% year over ...</p>\n\n<a href=\"https://finance.yahoo.com/news/perrigos-q3-earnings-fall-short-165900714.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Perrigo's Q3 Earnings Fall Short of Estimates, Sales View Updated</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPerrigo's Q3 Earnings Fall Short of Estimates, Sales View Updated\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-07 00:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/perrigos-q3-earnings-fall-short-165900714.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Perrigo Company plc PRGO reported adjusted earnings of 81 cents per share in the third quarter of 2024, missing the Zacks Consensus Estimate of 82 cents. The reported figure increased 26.6% year over ...</p>\n\n<a href=\"https://finance.yahoo.com/news/perrigos-q3-earnings-fall-short-165900714.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BIIB","symbol_name":"渤健公司","start_time":0,"source_url":"https://finance.yahoo.com/news/perrigos-q3-earnings-fall-short-165900714.html","article_id":"2481311549","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/B7EfA6ERTo_QO90H15uyXw--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/9c1d11cd27737fac4805145de6e5eee0"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481311549","pubTimestamp":1730912340,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Perrigo Company plc PRGO reported adjusted earnings of 81 cents per share in the third quarter of 2024, missing the Zacks Consensus Estimate of 82 cents. The reported figure increased 26.6% year over year, primarily due to improved margins and lower variable expenses.Net sales declined 3.2% year over year to $1.09 billion, missing the Zacks Consensus Estimate of $1.12 billion. The downside was due to lower net sales in the Nutrition category and loss of sales stemming from exited businesses and product lines.During the quarter, sales dropped 1.3% year over year on account of exited businesses and product lines but benefited from favorable currency movement by 0.5%. At constant currency , sales fell 3.7%. Organic net sales  were down 2.4%.Year to date, shares of Perrigo have plunged 21.3% against the industry’s 13.9% growth.Perrigo reports its results under the following segments — Consumer Self Care Americas  and Consumer Self Care International .In the past 60 days, estimates for Amic","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"BIIB":"渤健公司","PRGO":"百利高"},"translate_title":"Perrigo第三季度盈利低于预期，销售观点更新","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BIIB":0.9,"PRGO":0.9},"content_text":"Perrigo Company plc PRGO reported adjusted earnings of 81 cents per share in the third quarter of 2024, missing the Zacks Consensus Estimate of 82 cents. The reported figure increased 26.6% year over year, primarily due to improved margins and lower variable expenses.\nNet sales declined 3.2% year over year to $1.09 billion, missing the Zacks Consensus Estimate of $1.12 billion. The downside was due to lower net sales in the Nutrition category and loss of sales stemming from exited businesses and product lines.\nDuring the quarter, sales dropped 1.3% year over year on account of exited businesses and product lines but benefited from favorable currency movement by 0.5%. At constant currency (excluding foreign currency translation), sales fell 3.7%. Organic net sales (excluding the effects of acquisitions and divestitures and the impact of currency) were down 2.4%.\nYear to date, shares of Perrigo have plunged 21.3% against the industry’s 13.9% growth.\nImage Source: Zacks Investment Research\nMore on PRGO’s Earnings\nPerrigo reports its results under the following segments — Consumer Self Care Americas (CSCA) and Consumer Self Care International (CSCI).\nCSCA: The segment’s net sales in the quarter came in at $671 million, down 4.6% year over year. The downside was due to previously disclosed lost distribution of lower margin products in U.S. store brand across multiple product categories. Organic net sales fell 4.4%.\nCSCI: The segment reported net sales of $416 million, down 1.0% from the year-ago period’s levels due to product line exits. This fall was partially offset by favorable currency movements. At constant currency rates, sales were down 2.2% year over year. Organically, sales increased 1%.\nPRGO’s 2024 Guidance\nPerrigo updated its guidance for sales. Management anticipates fiscal 2024 total net sales growth at the lower end of the previously forecasted ranges, with sales expected to decline 3% to 5% compared to the prior year. This revision in guidance was likely made to account for lower global seasonal demand experienced in the first half of 2024 and expected lower distribution in the U.S. store brand in the second half of 2024.\nManagement now expects the adjusted tax rate to be 19-20% compared to the previous guidance of around 20.5%.\nPerrigo reiterated the rest of its financial guidance. Adjusted earnings per share (EPS) are expected between $2.50 and $2.65.  The company expects interest expenses to be $180 million.\nPRGO’s Zacks Rank\nPerrigo currently has a Zacks Rank #4 (Sell).\n\nPerrigo Company plc Price\n\nPerrigo Company plc price | Perrigo Company plc Quote\n\nKey Picks Among Biotech Stocks\nSome better-ranked stocks from the sector are Amicus Therapeutics FOLD and Biogen BIIB, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nIn the past 60 days, estimates for Amicus Therapeutics’ 2024 EPS have moved up from 21 to 22 cents. EPS estimates for 2025 have increased from 50 to 53 cents during the same period. Year to date, shares of FOLD have lost 17.3%.\nFOLD’s earnings beat estimates in three of the trailing four quarters and missed the mark once, delivering an average surprise of 23.96%.\nIn the past 60 days, estimates for Biogen’s 2024 EPS have increased from $16.12 to $16.36. EPS estimates for 2025 have improved from $17.09 to $17.15. Year to date, shares of BIIB have soared 40.9%.\nBiogen’s earnings beat estimates in three of the trailing four quarters and missed the mark once, delivering an average surprise of 9.99%.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nBiogen Inc. (BIIB) : Free Stock Analysis Report\nPerrigo Company plc (PRGO) : Free Stock Analysis Report\nAmicus Therapeutics, Inc. (FOLD) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481311549"}