Perrigo Forecasts Fiscal Year 2024 Organic Net Sales Growth Of 1.0% To 3.0% YoY, With Reported Net Sales Flat And Expects Adjusted EPS Of $2.50-$2.65 Versus Consensus Of $3.00
Portfolio Pulse from Benzinga Newsdesk
Perrigo has projected its fiscal year 2024 organic net sales growth to be between 1.0% to 3.0% year-over-year, with its reported net sales expected to remain flat. The company anticipates its adjusted earnings per share (EPS) to range from $2.50 to $2.65, which is below the consensus estimate of $3.00.
February 27, 2024 | 11:37 am
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Perrigo's fiscal year 2024 projections include a modest organic net sales growth of 1.0% to 3.0%, with overall reported net sales expected to remain unchanged. The company's adjusted EPS forecast of $2.50 to $2.65 falls short of the market consensus of $3.00.
Perrigo's projection of lower-than-expected adjusted EPS compared to the consensus estimate is likely to negatively impact investor sentiment in the short term. The modest growth in organic net sales, coupled with flat reported net sales, suggests limited revenue growth potential, further contributing to potential downward pressure on the stock price.
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IMPORTANCE 90
RELEVANCE 100