Perrigo Reports Third Quarter 2026 Financial Results From Continuing Operations

(NYSE: PRGO) Perrigo Company plc announced financial results from continuing operations for the third quarter ended September 26, 2026. The company reported All In net sales of $989 million, a 5.2% decrease year-over-year, and Core net sales of $908 million, down 1.7%. All In reported gross margin was 32.4%, down 370 basis points, and reported operating margin was 2.3%, down 460 basis points. Reported diluted EPS was $(0.10) compared to $0.09 in the prior year. All In adjusted diluted EPS was $0.60, a 25.0% decrease from $0.80 in the prior year, while Core adjusted EPS was $0.61, down 9.0% from $0.67. Organic net sales for All In were $994 million, down 1.9%, and for Core were $913 million, down 1.1%. Segment net sales for the quarter were: Self Care $613 million (down 3.2%), Specialty Care $182 million (down 4.6%), Infant Formula $81 million (down 9.6%), and All Other $113 million (down 13.1%). Segment adjusted operating income was: Self Care $105 million (down 19.4%), Specialty Care $32 million (down 24.2%), Infant Formula $(1) million, All Other $27 million (up 18.4%), and consolidated adjusted operating income was $129 million (down 25.5%). Net cash from operating activities was $96 million, capital expenditures were $18 million, and $40 million was returned to shareholders through dividends. Cash and cash equivalents as of September 26, 2026 were $437 million, and total debt was $3.3 billion. The company announced an agreement to divest its Infant Formula business for up to $175 million, consisting of $40 million upfront and up to $135 million contingent on net sales milestones through 2030. Perrigo expects to recognize an impairment loss between $275.0 million and $375.0 million related to the divestiture. The company updated its fiscal 2026 outlook: All In adjusted EPS is expected to be $2.25 to $2.45, and Core adjusted EPS $2.15 to $2.35. Other assumptions for 2026 include net interest expense of approximately $162 million, adjusted effective tax rate of approximately 14.0%, adjusted weighted average shares outstanding of approximately 140 million, net leverage of approximately 4.0 times adjusted EBITDA, and cash from operating activities as a percentage of adjusted net income in the low-to-mid-60% range. The company’s strategic review of its Oral Care business remains ongoing. The Infant Formula business will be reported as discontinued operations beginning with the fourth quarter and full-year 2026 reporting.

Perrigo Announces Quarterly Dividend

(NYSE:PRGO) Perrigo Company plc announced that its Board of Directors has approved a quarterly dividend of $0.29 per share. This dividend equates to $1.16 per share on an annualized basis. The cash dividend will be payable on December 15, 2026. Shareholders of record as of November 27, 2026, will be eligible to receive the dividend. The announcement was made by Perrigo Company plc, a leading provider of consumer self-care products. The company is listed on the New York Stock Exchange under the ticker PRGO. The dividend declaration and payment are subject to the discretion of the Board of Directors. The Board will consider factors such as earnings, financial condition, availability of distributable reserves, capital and surplus requirements, and other relevant factors when determining future dividends. The company refers interested parties to its filings with the United States Securities and Exchange Commission for further information on its business, financial condition, and risk factors. The company's Form 10-K for the year ended December 31, 2025, contains additional details on material trends, risks, and uncertainties. Eric Jacobson is the Vice President, Global Investor Relations, and Nick Gallagher is the Associate Director, Global Investor Relations at Perrigo Company plc.

Perrigo Completes Divestiture of Dermacosmetics Business

Perrigo Company plc (NYSE: PRGO) announced the completion of the sale of its branded Dermacosmetics business to Karo Healthcare for total consideration of up to €332.6 million. The transaction includes €305.6 million in upfront cash and up to an additional €27.0 million contingent on net sales milestones over the next three years. Perrigo expects to use the approximately €306 million in upfront net proceeds primarily to reduce debt. In calendar year 2025, the Dermacosmetics business generated approximately €120 million in net sales and represented about 5% of Perrigo's adjusted operating income. This move is part of Perrigo's Three-S plan to streamline its portfolio and focus on core categories.

Perrigo Company plc (NYSE: PRGO) announced that its Board of Directors has approved a quarterly dividend of $0.29 per share, or $1.16 per share on an annualized basis. The cash dividend is payable on June 16, 2026, to shareholders of record on May 29, 2026. Perrigo is a leading pure-play consumer health company with over a century of experience, primarily serving North America and Europe. The company leverages cash-generative store brand private label offerings to fuel investments for its leading brands. This announcement is significant for investors as it provides details on the upcoming dividend payment and highlights the company's business model.