Press Release: /C O R R E C T I O N -- Perrigo Company plc/

Dow Jones11-06
                                                                     Currency  Currency                                                      Currency 
CSCI Net                                                              Impact    Change                                                        Impact    Constant Currency 
Sales           September 28, 2024    September 30, 2023   % Change    (1)       (1)     September 28, 2024   September 30, 2023   % Change    (1)         Change (1) 
 Skin Care     $               91.0  $               86.7     5.0 %   (0.4) %     4.6 %  $             333.5  $             293.1    13.8 %     2.9 %               16.7 % 
 Upper 
  Respiratory                  86.1                  78.2    10.2 %   (2.2) %     8.0 %                206.0                227.9   (9.6) %   (1.3) %             (10.9) % 
 Pain and 
  Sleep-Aids                   56.9                  61.1   (6.8) %   (2.6) %   (9.4) %                158.6                163.8   (3.2) %   (2.1) %              (5.3) % 
 Healthy 
  Lifestyle                    53.2                  52.4     1.4 %   (1.5) %   (0.2) %                175.2                179.4   (2.3) %     4.0 %                1.6 % 
 VMS                           43.0                  46.1   (6.8) %   (1.1) %   (7.9) %                127.4                135.4   (5.9) %   (0.4) %              (6.3) % 
 Women's 
  Health                       32.2                  28.5    13.0 %   (1.3) %    11.7 %                101.2                 89.5    13.1 %      -- %               13.0 % 
 Oral Care                     23.3                  24.8   (5.9) %   (1.8) %   (7.7) %                 75.0                 75.5   (0.7) %   (1.3) %              (1.9) % 
 Digestive 
  Health and 
  Other CSCI                   30.6                  42.5  (28.3) %     1.1 %  (27.2) %                108.5                116.1   (6.5) %     0.7 %              (5.8) % 
               --------------------  --------------------  --------  --------  --------  -------------------  -------------------  --------  --------  ------------------- 
   Total CSCI 
    Net 
    Sales       $             416.3   $             420.3   (1.0) %   (1.3) %   (2.2) %    $         1,285.4    $         1,280.7     0.4 %     0.7 %                1.0 % 
 
 
 
Note:  amounts may not add or recalculate due to rounding. Percentages are 
       based on actuals. 
 
(1)    Currency impact is calculated using the exchange rates used to 
       translate our financial statements in the comparable prior year period 
       to show what current period US dollar results would have been if such 
       currency exchange rates had not changed. 
 

CSCI Third Quarter Primary Category Drivers:

   -- Skin Care: Net sales of $91 million increased 5.0%, or an increase of 
      4.6% excluding the impact of currency, due to strong growth in Compeed$(R)$, 
      driven by market share gains, in addition to higher net sales within the 
      ACO(R) and Sebamed(R) brand portfolios. The category also benefited from 
      the absence of prior year distribution transitions. 
 
   -- Upper Respiratory: Net sales of $86 million increased 10.2%, or an 
      increase of 8.0% excluding the impact of currency, due primarily higher 
      net sales of Bronchenolo(R), Bronchostop(R) and Coldrex(R), which 
      benefited from category growth and market share gains. 
 
   -- Pain & Sleep-Aids: Net sales of $57 million decreased 6.8%, or a decrease 
      of 9.4% excluding the impact of currency, due primarily to lower net 
      sales of Solpadeine(R), due primarily to supply constraints, and lower 
      net sales of store brand products. 
 
   -- Healthy Lifestyle: Net sales of $53 million increased 1.4%, or a decrease 
      of 0.2% excluding the impact of currency, as higher consumption for 
      anti-parasite products including Paranix(R), were more than offset by 
      lower category consumption in weight loss, impacting XLS Medical(R). 
 
   -- VMS: Net sales of $43 million decreased 6.8%, or a decrease of 7.9% 
      excluding the impact of currency, due primarily to promotional phasing of 
      Davitamon(R) and Abtei(R) and overall lower category consumption. 
 
   -- Women's Health: Net sales of $32 million increased 13.0%, or an increase 
      of 11.7% excluding the impact of currency, due primarily to higher net 
      sales of contraceptive products including EllaOne(R), driven by market 
      share gains and the absence of prior year distribution transitions. 
 
   -- Oral Care: Net sales of $23 million decreased 5.9%, or a decrease of 7.7% 
      excluding the impact of currency, due primarily to lower net sales of 
      store brand products and Plackers(R). 
 
   -- Digestive Health and Other: Net sales of $31 million decreased 28.3%, or 
      a decrease of 27.2% excluding the impact of currency, primarily due to 
      the divestiture of the HRA Pharma Rare Diseases Business, which was 
      partially offset by higher net sales of store brand products. 
 
TABLE VII 
 PERRIGO COMPANY PLC 
 RECONCILIATION OF NON-GAAP MEASURES 
 CONSOLIDATED AND SELECTED SEGMENT INFORMATION 
 (in millions, except per share amounts) 
 (unaudited) 
 
                    Three Months Ended                              Nine Months Ended 
Consolidated 
Continuing        September    September                          September   September 
Operations        28, 2024     30, 2023        Total Change        28, 2024    30, 2023      Total Change 
Adjusted gross 
 profit           $    446.1   $    443.6  $        2.5    0.6 % 
Adjusted gross 
 margin               41.0 %       39.5 %                160 bps 
Adjusted 
 operating 
 income           $    182.4   $    150.3   $      32.0   21.3 %  $    414.6  $    407.2               1.8 % 
 Less: 
 Currency 
 impact(1)                                                             (3.3)          -- 
                                                                  ----------  ---------- 
   Constant 
    currency 
    adjusted 
    operating 
    income                                                        $    417.9  $    407.2  $      10.7  2.6 % 
Adjusted 
 operating 
 margin               16.8 %       13.4 %                340 bps 
 Adjusted EPS    $      0.81  $      0.64   $      0.17   26.6 % 
 
 
Consumer 
Self-Care 
Americas 
Adjusted gross 
 profit           $    235.1   $    228.5  $        6.6    2.9 % 
Adjusted gross 
 margin               35.0 %       32.5 %                250 bps 
Adjusted 
 operating 
 income           $    131.9   $    108.1   $      23.8   22.0 % 
Adjusted 
 operating 
 margin               19.7 %       15.4 %                430 bps 
 
Consumer 
Self-Care 
International 
Adjusted gross 
 profit           $    211.1   $    215.1  $      (4.0)  (1.9) % 
Adjusted gross                                           (50) 
 margin               50.7 %       51.2 %                bps 
Adjusted 
 operating 
 income          $      91.9  $      79.7   $      12.2   15.3 % 
Adjusted 
 operating 
 margin               22.1 %       19.0 %                310 bps 
 
 
 
 
Note:  amounts may not add or recalculate due to rounding. Percentages are 
       based on actuals. 
 
(1)    Currency impact is calculated using the exchange rates used to 
       translate our financial statements in the comparable prior year period 
       to show what current period US dollar results would have been if such 
       currency exchange rates had not changed. 
 

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SOURCE Perrigo Company plc

 

(END) Dow Jones Newswires

November 06, 2024 09:52 ET (14:52 GMT)

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