Perrigo reported second-quarter 2026 core adjusted earnings per share of $0.46, beating expectations, and reaffirmed its full-year outlook. Interim President and CEO Albert Manzone highlighted market share gains of 50 basis points in both U.S. store brand OTC and European key brands, despite category softness. Core net sales declined 3.1% year-over-year, impacted by lower seasonal demand and retailer destocking, while all-in net sales fell 3.2%, partly offset by a 23% increase in Infant Formula. The company applied the majority of $359 million in proceeds from the Dermacosmetics divestiture to debt reduction, and its operational enhancement program remains on track to deliver $80 million to $100 million in savings by 2027. Perrigo maintained its full-year guidance for net sales, margins, and earnings per share, with results expected to be weighted toward the second half.
Perrigo Company PLCQ2 core adjusted EPS beat expectations and reaffirmed 2026 outlook, with debt reduction and savings program on track.
