SEATTLE, June 24, 2024 (GLOBE NEWSWIRE) -- UNITED STATES DISTRICT COURTDISTRICT OF NEW JERSEY ROOFER’S PENSION FUND, on behalf ofitself and all others similarly situated,                        Plaintiff,        v.JOSEPH C. PAPA, et al.,                        DefendantsCase No. 1:16-cv-02805-RMB-LDWCLASS ACTION SUMMARY NOTICE OF (I) PROPOSED SETTLEMENTAND PLAN OF ALLOCATION; (II) SETTLEMENT HEARING; AND(III) MOTION FOR ATTORNEYS’ FEES AND LITIGATION EXPENSES To:(1) All persons who purchased Perrigo Compan ...

Core Viewpoint - Perrigo's recent earnings report shows a decline in both earnings and net sales, raising concerns about its future performance as the stock has underperformed the S&P 500 by approximately 15.1% in the past month [1]. Financial Performance - Adjusted earnings for Q1 2024 were reported at 29 cents per share, surpassing the Zacks Consensus Estimate of 24 cents, but reflecting a year-over-year decline of 35.6% due to a negative impact of 30 cents per share related to the infant formula business [2]. - Net sales fell 8.4% year over year to $1.08 billion, missing the Zacks Consensus Estimate of $1.09 billion, primarily due to lower sales in infant formula and SKU prioritization actions aimed at enhancing margins [2]. - Sales declined 1.2% due to exited product lines and 0.3% from unfavorable currency movements; at constant currency, sales decreased by 8.2%, with organic net sales down 7.0% year over year [3]. Segment Analysis - The CSCA segment reported net sales of $644.1 million, down 15.7% year over year, attributed to inventory de-stocking at U.S. retail customers [4]. - The CSCI segment saw net sales of $437.9 million, an increase of 4.7% from the previous year, driven by growth in Skin Care and Women's Health categories, strategic pricing, and new products; at constant currency, sales increased by 5.5% [4]. Guidance and Estimates - Perrigo maintained its 2024 financial guidance, expecting total net sales growth to be flat year over year, with adjusted EPS projected between $2.50 and $2.65 and an adjusted tax rate around 20.5% [5]. - There has been a downward trend in estimates, with the consensus estimate shifting down by 5.95% over the past month [5]. VGM Scores and Outlook - Perrigo has a subpar Growth Score of D, but a better Momentum Score of B, with an overall aggregate VGM Score of B, indicating a favorable position in the value investment strategy [6]. - The stock currently holds a Zacks Rank 3 (Hold), suggesting an expectation of an in-line return in the coming months [7]. Industry Comparison - In comparison, SurModics, a peer in the Zacks Medical - Products industry, has seen a significant gain of 32.9% over the past month, reporting revenues of $31.96 million, a year-over-year increase of 17.5% [8].

Core Insights - Perrigo Company plc is a leading provider of Consumer Self-Care Products and OTC health and wellness solutions aimed at enhancing individual well-being [2] Group 1 - Perrigo's President and CEO Patrick Lockwood-Taylor and CFO Eduardo Bezerra will present at the Oppenheimer 24th Annual Consumer Growth & E-Commerce Conference on June 11th at 1:30 PM EDT [1] - The conference will be conducted virtually, and interested parties can access the webcast on Perrigo's website [1] Group 2 - Perrigo focuses on empowering consumers to proactively prevent or treat self-manageable conditions [2]

Have you evaluated the performance of Perrigo's (PRGO) international operations during the quarter that concluded in March 2024? Considering the extensive worldwide presence of this drug company, analyzing the patterns in international revenues is crucial for understanding its financial resilience and potential for growth.In the current era of a tightly interconnected global economy, the proficiency of a company to penetrate international markets significantly influences its financial health and trajectory ...

Perrigo Company plc (NYSE:PRGO) Q1 2024 Earnings Call Transcript May 7, 2024 8:30 AM ET Company Participants Brad Joseph - VP, Global IR Patrick Lockwood-Taylor - President and CEO Eduardo Bezerra - CFO Conference Call Participants Susan Anderson - Canaccord Genuity Chris Schott - JPMorgan Daniel Biolsi - Hedgeye Operator Good morning, ladies and gentlemen, and welcome to Perrigo First Quarter 2024 Financial Results Conference Call. At this time, all lines are in listen-only mode. Following the presentation ...

Perrigo Company plc (PRGO) reported adjusted earnings of 29 cents per share in the first quarter of 2024, beating the Zacks Consensus Estimate of 24 cents. Earnings were down 35.6% year over year, primarily due to a negative financial impact of 30 cents per share from infant formula.Net sales declined 8.4% year over year to $1.08 billion, missing the Zacks Consensus Estimate of $1.09 billion. The downside was due to lower net sales in infant formula and the negative impact of purposeful SKU prioritization a ...

Perrigo (PRGO) reported $1.08 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 8.4%. EPS of $0.29 for the same period compares to $0.45 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.09 billion, representing a surprise of -0.91%. The company delivered an EPS surprise of +20.83%, with the consensus EPS estimate being $0.24.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ex ...

EXHIBIT 99.1 Perrigo Reports First Quarter 2024 Financial Results From Continuing Operations Delivered Adjusted Diluted Earnings Per Share Results Above Projection, Due Primarily to Timing of Infant Formula Shipments; Reaffirm 2024 Financial Outlook Advanced Augmenting and Strengthening of Infant Formula Facilities, Recovery of Manufacturing Volumes Underway Progressed Blueprint to Build One Perrigo; On Target to Deliver Project Energize Goals; Announced Today in a Separate Press Release the Executive Trans ...

Delivered Adjusted Diluted Earnings Per Share Results Above Projection, Due Primarily to Timing of Infant Formula Shipments; Reaffirm 2024 Financial Outlook Advanced Augmenting and Strengthening of Infant Formula Facilities, Recovery of Manufacturing Volumes Underway Progressed Blueprint to Build One Perrigo; On Target to Deliver Project Energize Goals; Announced Today in a Separate Press Release the Executive Transition for the Consumer Self-Care International Business Recently Announced Plan to Divest HR ...

Core Viewpoint - Perrigo Company plc announces the retirement of Svend Andersen, EVP and President of Consumer Self-Care International (CSCI), and the appointment of Roberto Khoury to lead the CSCI segment, ensuring a smooth transition until Andersen's retirement at the end of 2024 [1][4]. Leadership Transition - Svend Andersen will retire in December 2024 after a successful tenure, during which he significantly reduced the number of SKUs and focused on innovation and brand extensions [3][4]. - Roberto Khoury, with over 20 years of experience in consumer products, will take over leadership of CSCI on August 1, 2024, after working closely with Andersen during the transition [1][2]. Background of New Leader - Prior to joining Perrigo, Khoury managed a $1.4 billion consumer products business at Kenvue, overseeing brands like Neutrogena and Rogaine [2]. - Khoury has extensive experience in the consumer space, having spent 13 years at L'Oréal in various leadership roles [2]. Company Outlook - Khoury expressed enthusiasm about joining Perrigo and aims to enhance the company's European brand presence while continuing to provide innovative self-care solutions [3]. - Perrigo's President and CEO, Patrick Lockwood-Taylor, highlighted the importance of Khoury's fresh perspectives and consumer insights for the future growth of CSCI [4].