Perrigo Cuts Annual Guidance, This OTC Drug Firm Also Reports Mixed Q3 Earnings
Portfolio Pulse from Vandana Singh
Perrigo Company PLC reported Q3 sales of $1.12 billion, up 2.2% Y/Y, missing the consensus of $1.20 billion. The company reported adjusted EPS of $0.64, beating the consensus of $0.61. However, the company lowered its guidance for net sales growth and revised its FY23 adjusted EPS outlook downwards. Despite this, Perrigo shares are up 5.06% at $29.91 on the last check Tuesday.
November 07, 2023 | 6:41 pm
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NEUTRAL IMPACT
Perrigo reported mixed Q3 earnings, missing sales consensus but beating EPS consensus. The company also lowered its net sales growth guidance and revised its FY23 EPS outlook downwards.
Perrigo's mixed Q3 earnings report and lowered guidance could have a neutral impact on its stock price in the short term. While the company missed sales consensus, it beat the EPS consensus, which could balance out the impact on the stock price. Additionally, despite the lowered guidance, the company's shares were up in the last check, indicating that the market may have already priced in the news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100