The EPS beat is significant but driven by cost cuts and divestiture gains rather than top-line growth. The reaffirmed guidance implies management expects H2 improvement, but the ongoing category softness and retailer destocking pose risks. Traders should watch for Q3 results to confirm the H2 inflection narrative.
Price Chart
Executive Summary
Perrigo reported Q2 2026 adjusted EPS of $0.50, beating consensus of $0.35 by 42.9%, but revenue declined 3.2% YoY to $1.02B (slightly above $1.01B consensus). The company reaffirmed its full-year 2026 outlook, citing expected H2 improvement from moderating under-absorption and cost savings. Despite the beat, underlying fundamentals remain weak with declining sales and margins, making the report mixed.
Key Financial Metrics
Key Facts
- Adjusted EPS $0.50 beat consensus $0.35 by 42.9%
- Revenue $1.02B vs consensus $1.01B (beat 1.3%)
- All In reported net sales declined 3.2% YoY; Core net sales declined 3.1%
- All In adjusted EPS declined 12.3% YoY; Core adjusted EPS declined 20.7%
- Full-year 2026 outlook reaffirmed with All In adjusted EPS range $2.00-$2.30
- Completed Dermacosmetics divestiture; ~$359M proceeds used for debt reduction
- Total debt reduced to $3.3B from $3.6B at year-end 2025
- Net cash from operating activities was $83M in Q2
Financial Impact
EPS beat consensus by 42.9% ($0.50 vs $0.35), but revenue declined 3.2% YoY and adjusted EPS declined 12.3% YoY. The beat is largely due to cost controls and one-time items, not revenue growth.
Risk Factors
- Continued category consumption softness in U.S. and Europe
- Retailer inventory destocking may persist
- Geopolitical and macroeconomic headwinds (tariffs, Middle East)
- Planned under-absorption from prior-year volume headwinds expected to impact EPS by ~$0.60 in 2026
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001585364-26-000143 |
| Document: prgo-20260805.htm | 0001585364-26-000143 |
| Document: 0001585364-26-000143-index-headers.html | 0001585364-26-000143 |
| Document: 0001585364-26-000143-index.html | 0001585364-26-000143 |
| Document: 0001585364-26-000143.txt | 0001585364-26-000143 |
| 8-K Data (Synthetic) | 0001585364-26-000143 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 5, 2026 11w ago | 8-K | $13.27 | awaiting T+60 | — | $15.63 (+17.78%) |
Jun 30, 2026 16w ago | 8-K | $10.31 $14.68 | ▲ +42.39% | ▲ +39.51% | $15.63 (+51.60%) |
May 28, 2026 21w ago | 144 | $11.15 $14.25 | ▲ +27.80% | ▲ +26.07% | $15.63 (+40.18%) |
Apr 22, 2026 26w ago | 8-K | $11.68 $10.72 | ▼ −8.23% | ▼ −13.15% | $15.63 (+33.80%) |
Apr 3, 2026 29w ago | DEFA14A | $10.56 $10.31 | ▼ −2.39% | ▼ −15.56% | $15.63 (+47.98%) |
Mar 20, 2026 31w ago | DEFA14A | $9.23 $10.99 | ▲ +19.04% | ▲ +4.62% | $15.63 (+69.30%) |
Feb 26, 2026 34w ago | 8-K | $14.08 $11.35 | ▲ +19.40% | ▲ +27.15% | $15.63 (−10.99%) |
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