Perrigo Company Reaffirms Fiscal 2024 Adjusted Diluted EPS Outlook Of $2.50-$2.65 Vs. $2.25 Estimate
Portfolio Pulse from Benzinga Newsdesk
Perrigo Company reaffirms its fiscal 2024 adjusted diluted EPS outlook of $2.50-$2.65, despite updating its organic net sales growth outlook to -3% to -1% and total net sales growth outlook to -5% to -3%. The company cites lower seasonal demand and expected lower distribution in U.S. store brands as reasons for the sales outlook adjustment. However, increased profitability from a faster recovery in the infant formula business, improved product mix, and lower selling expenses are expected to offset the sales outlook impact.

August 02, 2024 | 10:39 am
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Perrigo Company reaffirms its fiscal 2024 adjusted diluted EPS outlook of $2.50-$2.65, despite lowering its net sales growth outlook due to lower seasonal demand and expected lower distribution in U.S. store brands.
The reaffirmation of the EPS outlook is a positive signal, but the lowered sales growth outlook due to lower seasonal demand and expected lower distribution in U.S. store brands could neutralize the impact. Investors may view the mixed signals as a reason to hold their positions rather than make significant moves.
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