Perrigo Company plc ($PRGO) Stock Forecast: Down 4.5% Today

What is Perrigo Company plc?

Perrigo (NYSE: PRGO) specializes in over-the-counter health and wellness solutions. The company's stock experienced significant bearish movement today.

Why is Perrigo Company plc going down?

PRGO stock is down 4.5% on Aug 2, 2024 18:14

• In the second quarter of 2024, Perrigo (PRGO) delivered a mixed performance. While the company surpassed earnings per share (EPS) estimates, it fell short of revenue expectations. This discrepancy in financial results likely influenced the bearish trend in the stock price.
• Perrigo adjusted its total net sales predictions for the year downwards. This revision was mainly driven by reduced distribution projections in the U.S. store brand segment for the latter part of 2024. The lowered sales forecast might have had a negative impact on investor confidence.
• Despite outperforming EPS estimates, Perrigo saw a cut in its total net sales growth forecast. This alteration in sales expectations raised concerns about the company's future revenue prospects, potentially amplifying the negative market sentiment surrounding the stock.
• The significant decrease in earnings compared to the corresponding period last year, as outlined in the Q2 earnings overview, likely played a role in the overall adverse stock movement of Perrigo (PRGO).

PRGO Price Chart

PRGO News

PRGO Stock Earnings: Perrigo Beats EPS, Misses Revenue for Q2 2024

Perrigo (NYSE: PRGO ) just reported results for the second quarter of 2024. Perrigo reported earnings per share of 53 cents. This was above the analyst estimate for EPS of 51 cents. The company reported revenue of $1.07 billion. This was 8.10% worse than the analyst estimate for revenue of $1.16 billion. InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at editor@investorplace.com. More From InvestorPlace Legendary Investor Predicts: “Forget AI… THIS Technology Is the Future” The post PRGO Stock Earnings: Perrigo Beats EPS, Misses Revenue for Q2 2024 appeared first on InvestorPlace .

https://investorplace.com/earning-results/2024/08/prgo-stock-earnings-perrigo-for-q2-of-2024/

Perrigo ( PRGO ) Beats on Q2 Earnings, Lags Sales, Cuts View

Perrigo (PRGO) reports mixed second-quarter 2024 results. It cuts total net sales forecasts primarily due to expected lower distribution in U.S. store brand in second-half 2024.

https://www.zacks.com/stock/news/2315439/perrigo-prgo-beats-on-q2-earnings-lags-sales-cuts-view

Perrigo Reaffirms FY24 Adj. EPS Guidance; Updates Sales Outlook

Perrigo Company plc (PRGO) reaffirmed 2024 adjusted EPS guidance of between $2.50 to $2.65. The company updated fiscal 2024 organic net sales growth outlook to approximately between a decline of 3% and a decline of 1%, from prior guidance of an increase of 1% to 3%. Total net sales growth outlook has been updated to between a decline of 5% and a decline of 3%, from prior guidance of flat. The company revised sales outlook due primarily to lower seasonal demand experienced in the first half of 2024 and expected lower distribution in U.S. store brand in the second half of 2024.

https://www.rttnews.com/3465760/perrigo-reaffirms-fy24-adj-eps-guidance-updates-sales-outlook.aspx?type=ern

Perrigo ( PRGO ) Q2 Earnings Top Estimates

Perrigo (PRGO) delivered earnings and revenue surprises of 10.42% and 5.79%, respectively, for the quarter ended June 2024. Do the numbers hold clues to what lies ahead for the stock?

https://www.zacks.com/stock/news/2314962/perrigo-prgo-q2-earnings-top-estimates

Perrigo Company Plc Q2 Earnings Summary

WASHINGTON (dpa-AFX) - Below are the earnings highlights for Perrigo Company plc (PRGO):Earnings: -$106 million in Q2 vs. $9 million in the same period last year. EPS: -$0.77 in Q2 vs. $0.06 in th…

https://www.finanznachrichten.de/nachrichten-2024-08/62895478-perrigo-company-plc-q2-earnings-summary-020.htm

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Perrigo Company plc Price History

27.01.2024 - PRGO Stock was down 14.4%

• Reporting record net sales for both Q4 and FY 2023 and initiating an efficiency program.
• Introducing Project Energize to enhance efficiency and reduce expenses, including a 6% reduction in jobs.
• Providing a lower-than-expected guidance for FY24, resulting in a decline in stock performance.
• Posting disappointing Q4 earnings with a loss of $32.3 million, a decline from -$23.6 million in the previous year, impacting PRGO shares negatively.

15.10.2023 - PRGO Stock was up 5.3%

• Perrigo's bold turnaround plan and focus on the consumer self-care market have likely contributed to the bullish movement in its stock.
• The growing trend of investing in well-being products has also played a role in boosting investor confidence in Perrigo.
• The positive assessment of PRGO stock as a buy in the article further supports the notion that the company's strategic direction is resonating with investors.

08.10.2023 - PRGO Stock was up 6.0%

• Despite reporting lower-than-expected sales, Perrigo's stock had a strong bullish movement.
• The market may have reacted positively to the double-digit growth in gross profit, operating income, and EPS reported in Q3.
• The stock's bullish movement could also be attributed to the fact that the company's earnings call did not reveal any major negative surprises.
• Investors may have been encouraged by the company's acquisition of the Gateway infant formula facility and the U.S. and Canadian Good Start infant formula brand.

27.01.2024 - PRGO Stock was down 14.5%

• The launch of Project Energize aimed to enhance efficiency and reduce costs, which was received positively by investors.
• Despite recording record net sales in Q4 and FY 2023, the company decided to implement a major workforce reduction as part of an efficiency program.
• Perrigo's guidance for FY24 was below expectations, raising concerns about future performance.
• Despite exceeding earnings and revenue estimates, market sentiment may have been impacted by the cautious outlook for the upcoming fiscal year.

27.01.2024 - PRGO Stock was down 15.2%

• Fourth-quarter 2023 net sales were slightly below expectations.
• Despite beating earnings in Q4, the stock price dropped 10% due to sales lagging estimates and a less favorable financial outlook for 2024.
• The introduction of Project Energize, aimed at boosting efficiency and reducing costs, did not calm investor concerns.
• The bearish trend in Perrigo's stock price can be attributed to disappointing financial results, lower sales, and cost-cutting initiatives.

06.02.2024 - PRGO Stock was up 5.3%

• The bullish movement in PRGO stock is likely due to the company's positive step in shipping Opill to retailers nationwide, which is a significant development in the reproductive health market.
• The competitive pricing of Opill at $19.99 for a one-month supply and $49.99 for a three-month supply, along with its online availability, is thought to have contributed to investor optimism.
• The insider buying activity by EVP & CHRO Robert Willis, who acquired a substantial number of shares, could have also boosted confidence in the company's future.
• The innovative launch of Opill, its strategic pricing, and the positive market sentiment towards Perrigo's reproductive health advancements are believed to be the main factors behind the stock's bullish movement.

07.02.2024 - PRGO Stock was up 5.3%

• PRGO shares saw a notable increase in value following the announcement of the rollout of Opill, the first over-the-counter birth control pill, to various retailers.
• The affordability and effectiveness of Opill, endorsed by the FDA, likely drove positive investor sentiment.
• The retirement of Erica L. Mann, a key board member, may have further boosted market confidence in the company's stability and leadership.
• PRGO managed to attract investor interest despite prevailing labor market challenges, showcasing the impact of its new product launch and strategic moves on market dynamics.

08.02.2024 - PRGO Stock was up 6.2%

• The retirement of Erica L. Mann, a distinguished independent director, from Perrigo's board may have been viewed positively by investors, signaling potential positive changes within the company.
• The announcement of Perrigo starting shipments of the first over-the-counter birth control pill could have boosted investor confidence in the company's product pipeline and revenue potential.
• The news about the smoking cessation market expected to reach a significant value by 2030 might have created a positive outlook for Perrigo, especially if they have a strong presence in this market segment.
• Despite the challenging job market with numerous layoff announcements, Perrigo's innovative product offerings and market expansion seem to have driven investor optimism, leading to the bullish movement in the stock price.

27.09.2023 - PRGO Stock was down 5.0%

• The bearish movement in PRGO today could be attributed to the following factors:
• 1. Lackluster financial results: The upcoming release of Perrigo's third-quarter 2023 financial results might have created uncertainty among investors. If the results are expected to be below expectations, it could have contributed to the bearish sentiment.
• 2. Market competition: The article mentioning the increasing demand for oral care products, including dental floss picks, might have highlighted the intense competition faced by Perrigo in the consumer self-care industry. This could have raised concerns about the company's ability to maintain market share and profitability.
• 3. Dividend growth comparison: The article comparing dividend growth between companies, including Perrigo, might have indirectly highlighted a potential weakness in PRGO's dividend growth outlook. This could have influenced investors to shift their focus towards other companies with stronger dividend prospects, leading to the bearish movement.
• 4. Overall market sentiment: It's important to consider that market movements can also be influenced by broader market trends and investor sentiment. If the overall market experienced a bearish sentiment, it could have contributed to the decline in PRGO's stock price.

07.04.2024 - PRGO Stock was down 7.0%

• Perrigo beat earnings per share (EPS) estimates but missed revenue expectations for Q1 2024, indicating a mixed performance.
• The reaffirmation of the company's fiscal 2024 outlook for sales growth might not have been strong enough to offset concerns about revenue miss.
• The executive transition in the Consumer Self-Care International business could have raised uncertainties among investors about the company's future leadership and strategic direction.
• The market reaction to the earnings report and executive transition news likely contributed to the bearish movement in PRGO stock today.

07.04.2024 - PRGO Stock was down 6.1%

• Perrigo reaffirmed its fiscal 2024 outlook with modest growth projections that did not meet investor expectations, leading to a negative sentiment.
• Despite reporting improved earnings in Q1 compared to the previous year, the market may have been expecting more substantial growth figures.
• The announcement of an executive transition in the Consumer Self-Care International business could have raised concerns about potential disruptions or changes in strategic direction, impacting investor confidence.
• The retirement of an executive like Svend Andersen might have added to the uncertainty surrounding the company's future leadership and operational stability, contributing to the bearish market movement.

02.07.2024 - PRGO Stock was down 4.5%

• In the second quarter of 2024, Perrigo (PRGO) delivered a mixed performance. While the company surpassed earnings per share (EPS) estimates, it fell short of revenue expectations. This discrepancy in financial results likely influenced the bearish trend in the stock price.
• Perrigo adjusted its total net sales predictions for the year downwards. This revision was mainly driven by reduced distribution projections in the U.S. store brand segment for the latter part of 2024. The lowered sales forecast might have had a negative impact on investor confidence.
• Despite outperforming EPS estimates, Perrigo saw a cut in its total net sales growth forecast. This alteration in sales expectations raised concerns about the company's future revenue prospects, potentially amplifying the negative market sentiment surrounding the stock.
• The significant decrease in earnings compared to the corresponding period last year, as outlined in the Q2 earnings overview, likely played a role in the overall adverse stock movement of Perrigo (PRGO).