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Perrigo Reaffirms FY20 Adj. Earnings Guidance - Quick Facts

Perrigo Company plc (PRGO) reaffirmed its fiscal 2020 outlook with expected net sales growth of 6% to 7% highlighted by organic net sales growth of approximately 3%. Adjusted EPS is expected to be in the range of $3.95 to $4.15. Analysts polled by Thomson Reuters expect the company to report profit per share of $4.06. Analysts' estimates typically exclude special items. The company noted that it reaffirmed adjusted earnings guidance despite the addition of $0.12 - $0.15 per adjusted share of incremental COVID-19 related costs and a $0.06 per share impact from the divested Rosemont Rx business.

Second quarter adjusted EPS increased 19.8% to $1.03. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.88, for the quarter.

Second quarter consolidated net sales were $1.22 billion, an increase of 6.1% compared to the prior year quarter. Excluding the impact from divested businesses and currency, net sales increased 10.0% with organic net sales growth of 2.6%. Analysts expected revenue of $1.23 billion for the quarter.

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