Perrigo Q2 Earnings: $0.63 Reported EPS, Reaffirms 2026 Outlook Amid Turnaround
PRGO sits 19% above its 52-week low of $9.225.
Summary
Perrigo reported Q2 2026 earnings with $1.02 billion in net sales and reaffirmed its full-year 2026 adjusted EPS outlook of $2.00–$2.30, signaling confidence in a second-half rebound despite ongoing category softness.
Key Events · Earnings and Guidance · PRGO
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Q2 Results Mixed
Net sales of $1.02 billion declined 3.2% year-over-year; reported diluted EPS of $0.63 included a $129.4 million gain on the Dermacosmetics sale, while adjusted diluted EPS of $0.50 fell 12.3% from $0.57 a year ago.
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Full-Year Outlook Reaffirmed
Management reaffirmed 2026 adjusted EPS guidance of $2.00–$2.30, implying a back-half weighted year with approximately $0.44 of the remaining $0.60 planned under-absorption headwind still to come.
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Dermacosmetics Divestiture Closed
The sale generated approximately $359 million in cash proceeds, the substantial majority applied to reduce debt, lowering leverage toward the targeted ~4.0x adjusted EBITDA.
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Infant Formula a Bright Spot
Infant Formula net sales grew 23.1% to $100.9 million, driven by contract shipments and store-brand gains, helping offset weakness in Self Care and Specialty Care.
Analysis · PRGO · Life Sciences
Perrigo delivered mixed Q2 results with reported EPS of $0.63, boosted by a gain on the Dermacosmetics sale, while adjusted EPS of $0.50 missed the prior year's $0.57. Core organic sales declined 3.5% on soft category demand, but the company reaffirmed its full-year 2026 adjusted EPS outlook of $2.00–$2.30, implying a significant second-half ramp. The completed Dermacosmetics divestiture brought in $359 million, largely used to pay down debt, improving the balance sheet. With a recent CEO departure and a $398.6 million Q1 loss still fresh, this quarter shows stabilization but not yet a return to growth — the reaffirmed guidance is the key signal that management sees a path to recovery.
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At the time of this filing, PRGO was trading at $10.99 on NYSE in the Life Sciences sector, with a market capitalization of approximately $1.5B. The 52-week trading range was $9.23 to $27.16. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.