PERRIGO COMPANY PLC - PRGO STOCK NEWS

Perrigo Company plc (NYSE: PRGO) announced that its President and CEO, Murray S. Kessler, along with CFO Eduardo Bezerra, will present at the 12th Annual UBS Global Consumer and Retail Conference on March 15, 2023, at 3:00 PM EST in New York City. The presentation aims to discuss their consumer self-care products and OTC health solutions.

Interested parties can access the live presentation via the Perrigo website at http://perrigo.investorroom.com/events-webcasts. For more information on the company, visit www.perrigo.com.

Perrigo Company plc (NYSE: PRGO) announced FDA approval for its Acetaminophen and Ibuprofen Tablets, 250 mg/125 mg, an over-the-counter equivalent to Advil Dual Action Tablets. This approval, received on the first day after Advil's marketing exclusivity expiration, showcases Perrigo's regulatory competency. The company plans to launch the product in Spring 2023. Retail sales for the national brand reached approximately $69 million in the past year. This dual-action formulation is designed to relieve various pain symptoms, reinforcing Perrigo's position in the consumer health market.

Perrigo Company plc (NYSE: PRGO) announced its Optimize and Accelerate strategic plan during its Virtual Investor Day, aiming for long-term profitable growth through 2025. The leadership team, including CEO Murray S. Kessler, highlighted initiatives to enhance commercial operations and drive organic growth of at least 3%. Key goals include achieving an adjusted gross margin of at least 40% and reducing net leverage to less than 3x adjusted EBITDA. Financial guidance for 2023 includes a reported net sales growth of 7% to 11% and adjusted diluted EPS between $2.50 and $2.70. The strategy emphasizes innovation, portfolio optimization, and strong cash generation to enhance shareholder value.

Perrigo reported strong fiscal year 2022 results with net sales of $4.5 billion, up 7.6% year-over-year. Fourth-quarter net sales increased 4.6% to $1.2 billion, with significant growth from both Consumer Self-Care segments. The company achieved a 33.1% gross margin, a 170 basis points improvement from 2021. Despite a reported EPS loss of ($0.09) in Q4, adjusted EPS rose 25% to $0.75. Perrigo's cash reserves reached $601 million, with a cash conversion ratio exceeding 110%. The acquisition of HRA contributed positively to sales, with a virtual Investor Day planned for February 28, 2023, to discuss future strategies.

Perrigo Company plc (NYSE: PRGO) announced a 5% increase in its quarterly dividend to $0.273 per share, amounting to $1.09 annually, up from $0.257. This marks the 20th consecutive year of dividend increases for the company. The cash dividend will be payable on March 28, 2023, to shareholders of record on March 10, 2023. The increase reflects Perrigo's continued commitment to returning value to its shareholders and supporting their financial well-being.

Perrigo Company plc (NYSE: PRGO) has announced that it will release its financial results for the fourth quarter and fiscal year 2022 on February 27, 2023, after U.S. markets close. Following this, a Virtual Investor Day is scheduled for February 28, 2023, at 8:00 AM EST. Investors and interested parties are invited to register for the event online. This announcement is part of Perrigo's ongoing commitment to transparency and investor engagement. The company specializes in consumer self-care products and OTC health solutions, aiming to empower consumers in managing their health.

Perrigo Company plc (NYSE: PRGO) announced a Virtual Investor Day on February 28, 2023, coinciding with its quarterly earnings. During this event, management will outline its 2023-2025 strategic plans aimed at optimizing performance and enhancing market share growth. Key initiatives include a global supply chain program to improve gross margins, a focus on cash generation, and a capital allocation strategy prioritizing dividends and debt reduction. The event starts at 8:00 a.m. EST and will feature executive presentations.

ACO, a leading Swedish skincare brand, is launching its products in the U.S. this holiday season. Known for its clean and effective beauty solutions, ACO has been a staple in Scandinavian skincare since 1939. With a commitment to vegan, cruelty-free products, ACO offers a diverse range, including the new Sensitive Balance and Pure Glow lines. This holiday, ACO introduces seasonal skincare bundles at a 10% discount, ideal for gifting. The brand's reputation for quality and innovation, adhering to strict EU standards, positions it for success in the competitive U.S. market.

Perrigo reported third quarter net sales of $1.1 billion, a 5.5% increase year-over-year (12.3% excluding currency effects). Year-to-date net sales rose 8.7%, with organic sales up 7.7% in Q3. Gross margin was 33.0% (adjusted: 36.5%), with adjusted operating income of $133 million, a 19.2% increase. Reported EPS loss was ($0.39), improved from ($0.40) YOY. The company maintains its fiscal 2022 organic sales growth forecast of 9.0%-10.0% but revised adjusted EPS guidance to $2.00-$2.10.