Perrigo Company plc (NYSE:PRGO) Q1 2020 Earnings Conference Call April 30, 2020 8:30 AM ET Company Participants Brad Joseph - Investor Relations Murray Kessler - President and Chief Executive Officer Ray Silcock - Chief Financial Officer Conference Call Participants Louise Chen - Cantor Chris Schott - JPMorgan Randall Stanicky - RBC Capital Markets Ami Fadia - SVB Leerink David Risinger - Morgan Stanley David Steinberg - Jefferies Gregg Gilbert - SunTrust Elliot Wilbur - Raymond James Operator Good morning ...

Financial Data and Key Metrics Changes - Total Perrigo consolidated net sales grew 13.4% in Q4 2019 compared to the previous year, with all segments contributing to this growth [8][14] - Adjusted EPS for Q4 increased by 9.3% year-over-year, finishing at $1.06, while the full-year adjusted EPS for 2019 was $4.03, exceeding original guidance [14][22] - Consolidated reported GAAP net income for Q4 was a loss of $19 million, with a reported diluted loss per share of $0.14 [16] Business Line Data and Key Metrics Changes - Consumer Self-Care Americas (CSCA) saw a 19.4% increase in Q4 net sales, driven by $52 million in incremental domestic Ranir sales and $42 million in OTC sales growth [9][12] - Consumer Self-Care International (CSCI) net sales increased by 11%, benefiting from $22 million in incremental sales from Ranir and solid organic growth of 4.3% [12][13] - The generic Rx segment posted 2.2% net sales growth, with adjusted operating income down 26.3% due to pricing pressure and discontinued products [14][20] Market Data and Key Metrics Changes - The EU OTC market remains solid, growing at an attractive 3% to 4% rate, with Perrigo's regional brands maintaining their collective market share [13] - The U.K. store brand business experienced strong growth, contributing to the overall performance of CSCI [13] Company Strategy and Development Direction - Perrigo is focused on its Consumer Self-Care strategy and transformation initiatives, aiming for long-term growth goals of 3%, 5%, and 7% [6][7] - The company plans to invest $50 million in 2020 for transformation, with a focus on e-commerce, innovation, and technology [25][27] - The acquisition of Dr. Fresh is expected to accelerate future organic growth, alongside the launch of generic ProAir [24][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's momentum entering 2020, with expectations of 6% to 7% reported revenue growth and organic growth around 3% [24][25] - The potential impact of the coronavirus is currently expected to be modest, with most manufacturing facilities operating normally [23] Other Important Information - The company realigned its consumer product categories for standardized reporting, which has no impact on net sales [5] - The transition of leadership in the Consumer Americas business is underway, with Rich Sortoa set to take over from Jeff Needham [28] Q&A Session All Questions and Answers Question: Follow-up on cash flow from operations - Management acknowledged that cash flow from operations was below guidance due to increased trade receivables and one-time Israeli withholding tax payments [30][32] Question: Details on the latest acquisition - The acquisition of Dr. Fresh is seen as a strong addition, with expectations of significant cost synergies and growth potential in the kid segment [34] Question: Voltaren Gel opportunity - Management noted that the transition of Voltaren from Rx to OTC could provide significant growth opportunities, depending on FDA rulings [35] Question: E-commerce business status - E-commerce is becoming a significant growth driver, representing 40% of OTC growth in the U.S. last year, with expectations for continued emphasis on this channel [37][39] Question: Notable product launches for 2020 - Key product launches include new infant formulas, with a robust innovation program planned for 2020 [41][42] Question: Structural cost increases and margin outlook - Management clarified that structural cost increases are separate from transformational investments, with expectations for margin stabilization and improvement over the next few years [51][56]

Perrigo Company plc (NYSE:PRGO) Q3 2019 Results Earnings Conference Call November 6, 2019 8:00 AM ET Company Participants Bradley Joseph - Vice President, Investor Relations Murray Kessler - President and Chief Executive Officer Raymond Silcock - Executive Vice President and Chief Financial Officer Conference Call Participants Ashley Ryu - RBC Capital Markets Ami Fadia - SVB Leerink Gregg Gilbert - SunTrust Robinson Humphrey Zhu Shen Ng - Morgan Stanley Iris Zhilin Long - Berenberg Capital Markets Operator ...