Perrigo Q3 2020 Earnings Report
Key Takeaways
Perrigo reported a 1.3% increase in consolidated net sales for Q3 2020, driven by growth in Consumer Self-Care Americas. However, adjusted EPS decreased by 10.6% due to a charge from the RX albuterol recall. The company reaffirmed its full-year adjusted EPS guidance.
Consolidated third quarter net sales increased by 1.3% to $1.2 billion.
Consumer Self-Care Americas achieved record third quarter net sales, up 7.3%.
Reported diluted net loss per share was $1.13, compared to EPS of $0.67 in the prior year.
Adjusted diluted EPS decreased 10.6% to $0.93, including a $0.14 charge from the RX albuterol recall.
Perrigo
Perrigo
Perrigo Revenue by Segment
Forward Guidance
The Company reaffirms its fiscal 2020 outlook with expected net sales growth of 6% to 7% with organic net sales growth of at least 3%. Adjusted diluted EPS is expected to be in the range of $3.95 to $4.15.
Positive Outlook
- Strong business fundamentals
- Lower expected tax rate for the year
Challenges Ahead
- Incremental COVID-19 related costs ($0.12 - $0.15 per adjusted diluted share)
- Impact from the RX albuterol sulfate recall ($0.14 per share)
- Impact from the divested Rosemont Rx business ($0.06 per share)
Revenue & Expenses
Visualization of income flow from segment revenue to net income