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Perrigo Q3 sales slightly beat expectations on market share gains

By Reuters News


Overview

  • Ireland consumer self-care firm's Q3 sales slightly beat analyst expectations

  • Core net sales declined 1.7% yr/yr due to lower consumption and inventory positioning

  • Company announced divestiture of Infant Formula business to sharpen focus on self-care categories


Outlook

  • Perrigo lowers 2026 Core net sales growth outlook to (3.6)% to (2.5)%

  • Company expects 2026 Core adjusted EPS of $2.15 to $2.35

  • Perrigo sees 2026 Core adjusted operating margin of 14.0% to 15.0%


Result Drivers

  • LOWER CONSUMPTION - Co said lower consumption and more cautious retailer inventory positioning ahead of cough and cold season weighed on net sales

  • CONTRACT MANUFACTURING - Lower contract manufacturing volumes contributed to sales decline

  • MARKET SHARE GAINS - Share gains in U.S. Store Brand OTC and key European brands partly offset sales pressures


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Sales

Slight Beat*

$989 mln

$987.20 mln (3 Analysts)

Q3 Loss Per Share

$0.10

*Applies to a deviation of less than 1%; not applicable for per-share numbers.


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the pharmaceuticals peer group is "buy."

  • Wall Street's median 12-month price target for Perrigo Company PLC is $16.50, about 5.1% above its November 3 closing price of $15.70

  • The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 4 three months ago


Reuters Recommended Reads

  • Nov 3 - Pfizer Q3 revenue beats estimates on new launches; raises guidance

  • Nov 3 - Bayer raises 2026 profit outlook as pharma business beats expectations

  • Nov 3 - Teva profit beats forecasts, raises 2026 revenue estimates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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