Welcome to our dedicated page for Perrigo news (Ticker: PRGO), a resource for investors and traders seeking the latest updates and insights on Perrigo stock.
Perrigo Company plc reports recurring developments as a pure-play consumer health company focused on over-the-counter self-care products, store-brand private label offerings, and branded health and wellness products primarily in North America and Europe. Company updates cover operating results from continuing operations, category performance, dividends, investor presentations, and portfolio actions under its Three-S plan to stabilize, streamline, and strengthen the business.
News also addresses Perrigo's product-category reporting and brand momentum across Self Care and Specialty Care, including names such as Opill®, Mederma®, Compeed®, EllaOne®, and Jungle Formula®. Recent corporate developments include the completed divestiture of the Dermacosmetics business and the use of portfolio proceeds for balance-sheet debt reduction.
Perrigo (NYSE: PRGO) unveiled its strategic 'Three-S' plan at its Virtual Investor Day, focusing on consumerizing, simplifying, and scaling its global self-care platform. The plan includes: Stabilizing Consumer Self-Care Americas store brand and infant formula businesses, Streamlining the global portfolio and operations, and Strengthening investments in key 'High-Grow' brands.
The company announced its fiscal year 2025 targets, including: 1-3% all-in net sales growth, 2.5-4.5% organic net sales growth, ~40% adjusted gross margin, and adjusted EPS of $2.90-$3.10 (13-21% growth). For fiscal years 2025-2027, Perrigo targets organic net sales CAGR of 2.5-4.5%, adjusted gross margin expansion of 200-400 basis points, and net leverage reduction to less than 3x adjusted EBITDA by 2027.
Perrigo (PRGO) reported Q4 2024 financial results with net sales of $1.14 billion, declining 1.6% year-over-year, while organic growth was 0.7%. The company delivered fiscal year 2024 adjusted EPS of $2.57, meeting guidance expectations, despite reporting a loss of $(1.17) per share.
Q4 highlights include 17% growth in infant formula sales and expansion of adjusted operating margin by 260 basis points to 17.0%. The Consumer Self-Care Americas (CSCA) segment reported flat sales at $744 million, while Consumer Self-Care International (CSCI) saw a 4.5% decline to $394 million.
The company's Project Energize initiative achieved gross annual savings of $139 million in 2024, with $17 million reinvested. The program is expected to deliver annualized pre-tax savings of $140-170 million by 2026. Notably, Perrigo's Wisconsin infant formula facility received a 'No Action Indicated' status from the FDA, marking significant improvement from its previous status.
Perrigo (NYSE: PRGO), a leading provider of Consumer Self-Care Products, has announced its participation in the UBS 2025 Global Consumer and Retail Conference. President and CEO Patrick Lockwood-Taylor and CFO Eduardo Bezerra will present on Wednesday, March 12 at 10 AM ET in New York City.
The presentation will be accessible via webcast on Perrigo's investor relations website. Perrigo specializes in over-the-counter (OTC) health and wellness solutions, focusing on empowering consumers with self-managed healthcare options.
The company has noted that their conference presentation will include forward-looking statements, subject to risks and uncertainties that may cause actual results to differ from current projections. Interested parties are encouraged to review Perrigo's SEC filings for detailed risk factors and business conditions.
Perrigo (NYSE: PRGO) has announced a 5% increase in its quarterly dividend to $0.290 per share, up from $0.276, equivalent to $1.16 annually. The dividend will be payable on March 25, 2025, to shareholders of record on March 7, 2025.
This marks Perrigo's 22nd consecutive year of dividend increases, demonstrating the company's commitment to shareholder returns. Perrigo is a leading provider of Consumer Self-Care Products and over-the-counter (OTC) health and wellness solutions focused on empowering consumers in self-managed healthcare.
Opill®, the first over-the-counter birth control pill in the U.S., announced a major educational initiative including a multi-state college tour and expanded partnership with the WNBA. The initiative, called Level The Court, is developed in collaboration with the Black Women's Health Imperative (BWHI) to improve reproductive health education and access.
The college tour will visit 15 institutions, prioritizing states with restrictive reproductive health laws, including Texas, Tennessee, Indiana, and Arkansas. The University of South Carolina will host a WNBA event on February 25, 2025. The initiative includes the establishment of the BWHI Opill® Access Fund, providing three-month supplies to Black women facing challenges.
Stand-up comedian Hannah Berner joins the campaign to promote awareness about over-the-counter birth control options. The program targets nearly six million students in states with reproductive restrictions, featuring campus events, player appearances, and educational resources.
Perrigo (NYSE: PRGO) has announced it will release its fourth quarter and fiscal year 2024 financial results after U.S. market close on February 27, 2025. The company will follow this with a Virtual Investor Day on February 28, 2025, starting at 8:00 AM EST.
Interested participants can access the Virtual Investor Day event through Perrigo-Investor-Day-2025.open-exchange.net/welcome and are encouraged to register in advance. Perrigo is a leading provider of Consumer Self-Care Products and over-the-counter (OTC) health and wellness solutions focused on preventive and self-managed healthcare.
Perrigo (NYSE: PRGO) announced the expansion of its Chief Scientific Office, integrating global quality, pharmacovigilance, patient safety, regulatory affairs, and innovation teams to enhance organizational agility. Abbie Lennox has been appointed as Executive Vice President and Chief Scientific Officer, joining from Bayer where she served as Executive Board Member and Chief Trust and Science Officer.
Lennox brings experience in driving regulatory excellence and product innovation, having led multiple launches across various health categories and Rx-to-OTC switches. Notable achievements include leading the U.S. Rx-to-OTC switch for Astepro® and introducing Rennie® Gum in Europe.
The previous Chief Scientific Officer, Alison Ives, will transition to lead a newly formed Disruptive Growth Team, focusing on identifying emerging growth opportunities through category disruption and new market entry.
Perrigo reported Q3 2024 financial results with net sales of $1.1 billion, declining 3.2% versus prior year. The company achieved meaningful operating income growth and margin expansion, with adjusted operating income increasing 21.3% to $182 million. Infant formula business showed significant recovery with 3% net sales growth year-over-year and 58% sequential growth.
Key highlights include:
- GAAP operating income of $80 million, up from $62 million
- Adjusted diluted EPS of $0.81, up 26.6% from $0.64
- Gross margin expanded 160 basis points to 41.0%
- Operating margin increased 340 basis points to 16.8%
The company reaffirmed its fiscal 2024 adjusted EPS outlook of $2.50 to $2.65, while expecting organic net sales growth towards the lower end of its previously stated range of -3% to -1%.
Perrigo (PRGO) reported Q3 2024 financial results with net sales of $1.1 billion, down 3.2% year-over-year. Despite revenue decline, the company showed operational improvements with adjusted operating income increasing 21.3% to $182 million and adjusted operating margin expanding 340 basis points to 16.8%. The infant formula business showed recovery with 3% growth year-over-year and 58% sequential growth. Adjusted EPS was $0.81, up 26.6% from $0.64 in the prior year. The company reaffirmed its fiscal 2024 adjusted EPS outlook of $2.50-$2.65 while expecting organic net sales growth to be at the lower end of its previously stated range of -3% to -1%.
Perrigo (NYSE: PRGO) has announced its Board of Directors has declared a quarterly dividend of $0.276 per share. The dividend will be payable on December 17, 2024, to shareholders of record on November 29, 2024. Perrigo is a leading global provider of Consumer Self-Care Products and over-the-counter health and wellness solutions focused on preventive and self-managed care.