Perrigo reports Q3 loss, updates outlook and announces Infant Formula divestiture
Perrigo posted a third‑quarter loss of $0.10 per share and revenue of $989 million, down 5.2% year‑over‑year. The company announced it will sell its Infant Formula business and revised its full‑year 2026 adjusted earnings guidance to $2.15‑$2.35 per share. CEO Albert Manzone said the divestiture and tighter retailer inventory positioning are intended to sharpen focus on higher‑return self‑care categories.
Why it matters
The updated earnings guidance raises the top end of analysts’ expectations, which could support the stock price. The divestiture will remove Infant Formula from the balance sheet, reducing future capital expenditures and improving margin profile, affecting cash‑flow forecasts.
Key facts
- 1Core net sales were $908 million, a 1.7% year‑over‑year decline. prnewswire.com
- 2All‑in net sales were $989 million, a 5.2% year‑over‑year decline. prnewswire.com
- 3Core adjusted earnings per share were $0.61, a 9.0% decline from the prior year. prnewswire.com
- 4All‑in adjusted earnings per share were $0.60, a 25.0% decline from the prior year. prnewswire.com
- 5The company announced a divestiture of its Infant Formula business to simplify the portfolio. prnewswire.com
- 6Full‑year 2026 adjusted EPS guidance was raised to $2.15‑$2.35 per share. investing.com
Summary written by AlphAI AI Desk from 10 of 10 sources. Not investment advice. Figures are as stated by the linked sources.