Perrigo Co Plc Stock Price, News & Analysis

Perrigo Company reported Q3 2020 net sales of $1.2 billion, up 1.3% year-over-year, driven by robust growth in its Consumer Self-Care segment. The company achieved record net sales of $664 million in Consumer Self-Care Americas, a 7.3% increase, while organic net sales grew 1.6%. Despite challenges, including a $202 million goodwill impairment and a diluted net loss per share of $1.13, Perrigo reaffirmed its fiscal outlook for 2020, projecting net sales growth of 6-7% and adjusted EPS of $3.95-$4.15. The company remains optimistic about its self-care evolution and e-commerce strategy.

Perrigo Company plc (NYSE: PRGO) announced a ruling from the Irish High Court stating that the issuance of a Notice of Amended Assessment by Irish Revenue in November 2018 did not violate the company's legitimate expectations. No payment is required due to this ruling. However, the High Court did not quash the assessment, allowing Perrigo to either appeal the decision or challenge the assessment's merits before the Irish Tax Appeals Commission. The company maintains that the assessment is without merit and remains committed to defending its position.

Perrigo Company plc (NYSE: PRGO) has acquired three OTC skincare brands—Emolium®, Iwostin®, and Loxon®—from Sanofi, marking a significant step in its transformation into a consumer-focused self-care company. This acquisition aims to tap into growth opportunities in Eastern Europe and is expected to enhance Perrigo's existing product portfolio. Executive VP Svend Andersen emphasized the strategic importance of leveraging high-quality skincare and expanding into new markets. The company is a major player in the OTC sector, with over 9,000 SKUs under store brand labels in the U.S. and a strong presence in Europe.

Steripod, a brand under Perrigo Company plc (NYSE: PRGO), emphasizes the importance of hygiene during the holiday season amidst COVID-19 concerns. The Steripod Toothbrush Protector offers protection against airborne contaminants, ensuring safe travel and hygiene practices. This product, infused with natural Thymol vapors, keeps toothbrushes clean for up to three months. Travelers are encouraged to adopt additional safety measures such as masks and sanitizers to prevent illness. For more information, visit getsteripod.com.

Perrigo Company plc (NYSE: PRGO) announced a scheduling update for its third quarter financial results call to November 4, 2020, at 4:30 p.m. (EST), following a notice from the Irish High Court regarding a pending judicial review of a €1.6 billion assessment by Irish Revenue. The company asserts the assessment is without merit and intends to challenge it. The outcomes of the court's decision may influence the company's financial implications, and no payment is required until all determinations are resolved.

Perrigo Company plc (NYSE; TASE: PRGO) has declared a quarterly dividend of $0.225 per share, set to be paid on December 15, 2020. Shareholders of record by November 27, 2020 will be eligible for this payment. Perrigo is recognized for providing Quality, Affordable Self-Care Products, leading in the OTC market with over 9,000 SKUs. Despite broader economic uncertainties due to COVID-19, the company maintains a strong position in the consumer health sector.

Perrigo Company plc (NYSE: PRGO) will release its third quarter financial results on November 4, 2020. A conference call is scheduled for 8:00 a.m. (EST) on the same day, allowing investors to engage and hear insights directly from the management. Perrigo is recognized as a leading provider of Quality, Affordable Self-Care Products and is the largest store brand OTC player in the U.S. The company also has a significant presence in Europe, ranking among the top five OTC companies by revenue.

Perrigo Company plc (NYSE; TASE: PRGO) announced a voluntary recall of albuterol sulfate inhalation aerosol due to clogging complaints. This follows the halting of production and distribution. The recall is part of corrective actions, but a timeline for reintroduction is not set. The company anticipates a charge of approximately $18 million to $22 million in Q3 2020 but maintains its fiscal year 2020 adjusted EPS guidance of $3.95 to $4.15, attributing stability to strong consumer demand in its self-care segments. Sales of the inhalation aerosol ceased in late August 2020.

Perrigo's Steripod brand highlights the importance of maintaining oral health as schools reopen amid COVID-19. They advocate for regular toothbrush replacement every 90 days, as recommended by the ADA, to combat airborne illnesses. Greg McCormick, Senior VP of Global Innovation and Technology, emphasizes the need for protecting toothbrushes from contaminants. Key tips include replacing brushes during illness and using Steripod protectors. Perrigo's dedication to quality self-care products is underscored, with a focus on empowering consumers to manage their health proactively.