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Perrigo Expects To Achieve FY22 Constant Currency Adj. EPS Range Outlook

Perrigo Company plc (PRGO) has updated its 2022 adjusted EPS guidance range to $2.25-$2.35 from previous guidance range of $2.30-$2.40, due entirely to the worsening impact of currency translation. The company expects to achieve 2022 constant currency adjusted EPS range outlook of $2.40-$2.50.

The company increased its fiscal 2022 organic net sales growth range outlook to 9.0%-10.0% from prior outlook range of 8.0%-9.0%, due to continued strong global consumer demand. The company also reaffirmed fiscal 2022 total net sales growth range outlook of 8.5%-9.5%.

Second quarter adjusted net income was $59 million, or $0.43 per share, compared to $68 million, or $0.50 per share, prior year. Constant currency adjusted EPS for the quarter was $0.49.

Reported net loss was $65 million, or $0.48 per share, compared to a reported net loss of $112 million, or $0.84 per share, prior year.

Net sales were $1.1 billion, an increase of 14.3% from last year. Organic net sales increased 17.2%.

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