Perrigo Company plc reported fourth‑quarter 2025 results on February 26, 2026, with net sales of $1.11 billion, a 2.5% decline from the same period a year earlier. Adjusted earnings per share were $0.77, down from $0.93 in Q4 2024 and $0.80 in analyst consensus, a miss of $0.03 or 3.8%. Revenue beat the consensus estimate of $1.10 billion by $0.01 billion, a 0.9% upside.
The company’s Consumer Self‑Care Americas segment generated $697 million in net sales, a 6.3% year‑over‑year decline, while the International segment posted $412.6 million, a 4.7% increase. The overall decline reflects soft category consumption and the impact of the infant formula business, which remains under strategic review.
Adjusted operating income fell to $117 million, a 20.1% drop from the prior year, largely due to a $1.12 billion goodwill impairment charge that produced an operating loss and a net loss of $1.40 billion. The impairment reduced profitability and contributed to the earnings miss.
Perrigo’s Three‑S Plan continues to deliver cost savings. Project Energize achieved $167 million in pre‑tax savings through FY2025, while the Supply Chain Reinvention Program’s annual benefit of $157 million was not independently corroborated but is reported as part of the plan’s overall savings target.
For FY2026, the company reiterated guidance for adjusted earnings per share of $2.25–$2.55. Net‑sales guidance was not confirmed; however, the CORE net‑sales outlook is –3.0% to +1.0% versus the prior year, and the All‑In net‑sales outlook is –5.5% to –1.5%. Management emphasized a focus on CORE Perrigo, excluding the infant formula business and previously announced divestitures.
Patrick Lockwood‑Taylor, President and CEO, said, “Fiscal year 2025 was a pivotal year for Perrigo. Despite soft category consumption and a challenging infant formula end‑market, we gained share across store brands and in key brands as our team executed with discipline. These results reinforce the strength of our consumer‑preferred portfolio, deep retail partnerships and sharpened focus.” Investors reacted negatively, citing the EPS miss and the cautious FY2026 outlook, while management highlighted the strategic review of the infant formula business as a key focus for future growth.
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