Perrigo Company ( (PRGO) ) has released its Q4 earnings. Here is a breakdown of the information Perrigo Company presented to its investors.
Perrigo Company plc is a leading provider of consumer self-care products and over-the-counter health and wellness solutions, focusing on empowering consumers to manage their health proactively. The company operates primarily in the consumer healthcare sector, offering a range of products that cater to various health needs.
In its latest earnings report for the fourth quarter and fiscal year 2024, Perrigo highlighted significant progress in stabilizing and streamlining its operations, despite facing a challenging year. The company reported a fiscal year 2024 adjusted EPS of $2.57, aligning with the midpoint of its guidance range, although it posted a reported loss of $1.17 per share.
Key financial metrics from the report indicate that fourth-quarter net sales were $1.14 billion, a decline of 1.6% from the previous year, with organic growth of 0.7%. The Consumer Self-Care Americas segment saw flat net sales, while the Consumer Self-Care International segment experienced a 4.5% decline. The company’s adjusted operating income for the fiscal year increased by 6.0% to $609 million, driven by initiatives like Project Energize and Supply Chain Reinvention.
Despite a reported net loss of $161 million for fiscal year 2024, Perrigo achieved adjusted net income of $354 million. The company also made strides in its infant formula business, with a 17% increase in net sales for the fourth quarter. Looking ahead, Perrigo plans to share its strategic plan for 2025-2027, focusing on stabilizing, streamlining, and strengthening its operations for sustainable growth.
Perrigo’s management remains optimistic about the future, emphasizing the company’s commitment to recapturing market share and achieving long-term sustainable growth. The upcoming Investor Day event is expected to provide further insights into the company’s strategic direction and financial guidance for the coming years.