PERRIGO COMPANY PLC - PRGO STOCK NEWS

Perrigo Company plc (NYSE: PRGO) announced that President and CEO Murray S. Kessler and CFO Eduardo Bezerra will engage in investor meetings at the Credit Suisse HALO Investment Summit in New York City on May 25, 2022, with no formal presentation planned.

Kessler is also set to virtually present at the Oppenheimer Consumer Growth and E-Commerce Conference on June 15, 2022, at 9:45 AM EDT. Interested parties can access webcasts via the Perrigo website. Perrigo is a leading provider of consumer self-care products, ranking as the largest store brand OTC player in the U.S.

Perrigo reported first quarter 2022 net sales of $1.1 billion, reflecting a 6.4% increase from the previous year, with organic growth at 9.7%. The loss per diluted share was $0.01, compared to an earnings per share of $0.02 last year. Adjusted diluted EPS dropped to $0.33 from $0.50, impacted by cost headwinds and foreign exchange fluctuations. The acquisition of HRA Pharma bolstered sales expectations, prompting an increase in fiscal 2022 net sales growth guidance to 8.5%-9.5% from 3.5%-4.5%.

Perrigo Company plc (NYSE: PRGO) has announced the succession of its executive leadership team. Eduardo Bezerra will become Chief Financial Officer on May 16, 2022, succeeding Ray Silcock, who will retire on July 15, 2022. Todd Kingma, the current EVP and General Counsel, will retire on August 31, 2022, with Kyle Hanson named as his successor, effective June 1, 2022. CEO Murray Kessler emphasized that these appointments are essential to advancing Perrigo's consumer self-care strategy and operational excellence.

Perrigo Company plc (NYSE: PRGO) declared a quarterly dividend of $0.26 per share, set for payment on June 21, 2022, to shareholders on record as of June 3, 2022. As a prominent global provider of Consumer Self-Care Products, Perrigo continues to lead in the OTC market in the U.S. and ranks among the top players in Europe. This dividend is a demonstration of the company's commitment to returning value to its shareholders and indicates confidence in its ongoing business strategy.

Perrigo Company plc (NYSE: PRGO) announced the completion of its acquisition of Héra SAS for €1.8 billion (approximately $1.9 billion) in cash on April 29, 2022. This strategic move is intended to enhance Perrigo's position in the consumer self-care market. CEO Murray Kessler highlighted that the acquisition aligns with the company's transformation plan, aiming for improved sales, earnings growth, and margin enhancement. The integration of HRA is set to expand Perrigo's geographic reach and drive innovation in self-care products.

Perrigo Company plc (NYSE: PRGO) announced that the acquisition of Héra SAS is expected to close on April 29, 2022, pending the satisfaction of remaining conditions in the sale agreement. This acquisition aligns with Perrigo's strategy as a leading provider of self-care products in the OTC market, enhancing its presence in the health and wellness sector. The company asserts its commitment to empowering consumers with affordable self-care solutions, reinforcing its market position.

Perrigo Company plc (NYSE: PRGO) will announce its first quarter 2022 financial results on May 11, 2022, at 8:30 A.M. (EDT). The conference call will be accessible via webcast on the investor relations section of Perrigo's website. A replay will also be available from 12:00 P.M. (EDT) on May 11 until midnight on May 18, 2022. Perrigo is a significant player in the Consumer Self-Care Products sector, being the largest store brand OTC provider in the U.S. and a top OTC company in Europe.

Perrigo Company plc (NYSE: PRGO) has successfully closed its senior secured credit facilities totaling $2.6 billion. These facilities include a $1.0 billion revolving credit line and $1.6 billion in term loans. The increased loan size is due to strong market interest. The funds will finance the acquisition of Héra SAS and pay off existing debts, including 4.00% Senior Notes due 2023. The redemption of these notes is set for May 20, 2022. Major banks involved include JPMorgan Chase and Morgan Stanley.

Perrigo Company plc (NYSE: PRGO) announced a private offering of $500 million in senior notes due 2030 to finance the acquisition of Héra SAS and refinance existing debt. The offering is expected to close before the acquisition, with cash proceeds placed in escrow until the deal's completion or termination. The notes will be guaranteed by Perrigo and its subsidiaries. Key risks include potential delays in the acquisition and market conditions affecting the offering.