Quarterly ResultMay 6, 2026, 06:37 AM
Perrigo Q1 Reported EPS $(2.81) on $330.8M Goodwill Impairment
AI Summary
Perrigo Company plc reported its first quarter 2026 financial results, with reported diluted EPS at $(2.81), primarily due to a significant $330.8 million goodwill impairment charge. Reported net sales declined 7.2% to $969 million, and Core organic net sales decreased 11.0% driven by lower consumption and retailer inventory destocking. Despite the challenging environment, the company completed the divestiture of its Dermacosmetics business for 306 million upfront, with proceeds intended for debt reduction, and maintained its full-year 2026 outlook, anticipating improvement in the second half.
Key Highlights
- Reported diluted EPS was $(2.81) for Q1 2026.
- Recorded a $330.8 million goodwill impairment charge.
- Reported net sales decreased 7.2% to $969 million.
- Core organic net sales declined 11.0% due to lower consumption.
- Specialty Care segment net sales grew 4.0%; operating income rose 31.4%.
- Completed Dermacosmetics divestiture for 306 million upfront.
- Maintained full-year 2026 outlook, expecting H2 improvement.
- Adjusted diluted EPS was $0.43 (All In) and $0.40 (Core).