09.05.2023 12:51:21
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Perrigo: Murray Kessler To Retire; Delivers Double-digit Top Line Growth In Q1, Reaffirms Outlook
(RTTNews) - Perrigo Company plc (PRGO) announced that Murray Kessler has notified the company of his intent to retire as President and Chief Executive Officer, with a target effective date of July 31, 2023.
Chairman of the Board, Orlando Ashford, said: "We are working with a global executive search firm and are confident that we will identify a world-class CEO who will execute on our Optimize and Accelerate strategic plan and further drive our long-term success."
Separately, Perrigo Company reported first-quarter adjusted EPS of $0.45, an increase of 35.6%, compared to $0.33 in the prior year quarter, an increase of 47.2% on a constant currency basis. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.42, for the quarter. Analysts' estimates typically exclude special items. The company noted that its adjusted EPS was unfavorably impacted by $0.10 from the infant formula and OTC product voluntary recalls and $0.05 due to the HRA distributor transition sales returns.
First quarter reported net loss was $1 million, or $0.01 per share, compared to reported net loss of $1 million, or $0.01 per share, in the prior year period.
First quarter reported net sales were $1.2 billion, up 10.0%, constant currency net sales increased 13.0% and organic net sales increased 6.4%. Analysts on average had estimated $1.17 billion in revenue.
Perrigo Company reaffirmed its fiscal 2023 organic net sales and total net sales growth outlook range of 3.0%-6.0% and 7.0%-11.0%, respectively, versus the prior year, and adjusted EPS range outlook of $2.50-$2.70.
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Perrigo Company PLC | 23,68 | -1,95% |
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