Perrigo Reports A Loss From Cont. Opns. In Q1, Sales Decline
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Perrigo Company plc (PRGO) reported a significant loss in Q1, with a net loss from continuing operations of $389.8 million, compared to a breakeven profit last year. The decline was attributed to $330.8 million in impairment charges and $75.1 million in restructuring costs. Sales fell 7.2% to $969.2 million, driven by lower consumption in the U.S. and Europe. For the full year, Perrigo expects net sales to decline by 5.5% to 1.5% and adjusted EPS between $2.00 and $2.30.
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