NYSE: PRGO
PERRIGO Co plcCIK 0001585364 · SIC 2834 · Pharmaceutical Preparations
Perrigo Company plc was incorporated under the laws of Ireland on June 28, 2013 and became the successor registrant of Perrigo Company, a Michigan corporation, on December 18, 2013 in connection with the acquisition of Elan Corporation, plc ("Elan"). Unless the context requires otherwise, the terms… About this business →
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Perrigo swings to $74.5M net income on non-operating factors as operating income falls 48%
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Perrigo reinstates executive severance policy during CEO transition period
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Perrigo expands Board to 10, adds consumer products and retail veterans
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Perrigo CEO resigns immediately after board finds conduct violated company values
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revenue $969.2M, net income -$398.6M. Perrigo posts goodwill impairment, 7% revenue decline as restructuring accelerates
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Perrigo reports Q1 2026 earnings with impairment charges, debt loss, and infant formula under review
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Perrigo shareholders approve new 2026 equity compensation plan at annual meeting
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Perrigo completes €305.6M sale of Dermacosmetics Business to Karo Healthcare
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Latest financial statements
From 10-Q filed Aug 5, 2026 (period ending Jun 27, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(in millions, except per share amounts)
| Description | Three months ended June 27, 2026 | Three months ended June 28, 2025 | Six months ended June 27, 2026 | Six months ended June 28, 2025 |
|---|---|---|---|---|
| Net sales | 1,022.8 | 1,056.3 | 1,992.0 | 2,100.2 |
| Cost of sales | 708.9 | 693.4 | 1,352.6 | 1,345.0 |
| Gross profit | 313.9 | 362.9 | 639.4 | 755.2 |
| Operating expenses | ||||
| Distribution | 21.7 | 23.6 | 44.3 | 46.4 |
| Research and development | 23.7 | 22.0 | 48.4 | 48.7 |
| Selling | 129.5 | 136.5 | 259.2 | 282.7 |
| Administration | 100.0 | 113.0 | 215.0 | 225.2 |
| Impairment charges | 1.0 | 1.5 | 331.8 | 4.6 |
| Restructuring | 14.4 | 8.7 | 89.5 | 38.1 |
| Other operating expense, net | — | 12.2 | — | 17.2 |
| Total operating expenses | 290.5 | 317.5 | 988.3 | 662.9 |
| Operating income (loss) | 23.5 | 45.4 | (348.9) | 92.3 |
| Interest expense, net | 38.4 | 39.6 | 79.3 | 78.6 |
| Other (income) expense, net | (120.5) | 2.6 | (126.5) | 2.2 |
| Loss on extinguishment of debt | 0.1 | — | 1.4 | — |
| Income (loss) from continuing operations before income taxes | 105.4 | 3.2 | (303.1) | 11.5 |
| Income tax expense (benefit) | 16.9 | 3.7 | (1.8) | 11.9 |
| Income (loss) from continuing operations | 88.5 | (0.5) | (301.3) | (0.4) |
| Loss from discontinued operations, net of tax | (14.1) | (7.9) | (22.8) | (14.4) |
| Net income (loss) | 74.5 | (8.4) | (324.1) | (14.8) |
| Earnings (loss) per share | ||||
| Basic | ||||
| Continuing operations | 0.64 | (0.00) | (2.17) | — |
| Discontinued operations | (0.10) | (0.06) | (0.16) | (0.10) |
| Basic earnings (loss) per share | 0.54 | (0.06) | (2.33) | (0.10) |
| Diluted | ||||
| Continuing operations | 0.63 | (0.00) | (2.17) | — |
| Discontinued operations | (0.10) | (0.06) | (0.16) | (0.10) |
| Diluted earnings (loss) per share | 0.53 | (0.06) | (2.33) | (0.10) |
| Weighted-average shares outstanding | ||||
| Basic | 139.1 | 138.2 | 138.9 | 138.0 |
| Diluted | 139.6 | 138.2 | 138.9 | 138.0 |
Condensed Consolidated Balance Sheets (Unaudited)
(in millions, except per share amounts)
| Description | June 27, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | 399.7 | 531.6 |
| Accounts receivable, net of allowance for credit losses of $3.9 and $6.5, respectively | 709.9 | 612.8 |
| Inventories | 1,064.5 | 1,149.0 |
| Prepaid expenses and other current assets | 277.7 | 231.4 |
| Current assets held for sale | — | 272.6 |
| Total current assets | 2,451.7 | 2,797.4 |
| Property, plant and equipment, net | 849.0 | 898.7 |
| Operating lease assets | 156.0 | 167.8 |
| Goodwill and indefinite-lived intangible assets | 1,697.6 | 2,054.7 |
| Definite-lived intangible assets, net | 2,190.2 | 2,351.5 |
| Deferred income taxes | 6.3 | 3.3 |
| Other non-current assets | 258.6 | 261.8 |
| Total non-current assets | 5,157.7 | 5,737.8 |
| Total assets | 7,609.5 | 8,535.2 |
| Liabilities and Shareholders’ Equity | ||
| Liabilities | ||
| Accounts payable | 400.4 | 474.5 |
| Payroll and related taxes | 153.2 | 112.2 |
| Accrued customer programs | 109.4 | 111.4 |
| Other accrued liabilities | 265.4 | 216.1 |
| Accrued derivative liabilities | 86.2 | 14.5 |
| Accrued income taxes | 28.8 | 20.8 |
| Current indebtedness | 11.4 | 36.6 |
| Current liabilities held for sale | — | 26.8 |
| Total current liabilities | 1,054.8 | 1,012.9 |
| Non-current liabilities | ||
| Long-term debt, less current portion | 3,283.4 | 3,603.6 |
| Deferred income taxes | 146.7 | 168.9 |
| Other non-current liabilities | 608.8 | 814.3 |
| Total non-current liabilities | 4,038.9 | 4,586.8 |
| Total liabilities | 5,093.7 | 5,599.7 |
| Contingencies - Refer to Note 16 | ||
| Shareholders’ equity | ||
| Controlling interests: | ||
| Preferred shares, $0.0001 par value per share, 10 shares authorized | — | — |
| Ordinary shares, €0.001 par value per share, 10,000 shares authorized | 6,540.5 | 6,608.2 |
| Accumulated other comprehensive income (loss) | (22.8) | 4.8 |
| Retained earnings (accumulated deficit) | (4,001.9) | (3,677.5) |
| Total shareholders’ equity | 2,515.8 | 2,935.5 |
| Total liabilities and shareholders' equity | 7,609.5 | 8,535.2 |
| Supplemental Disclosures of Balance Sheet Information | ||
| Preferred shares, issued and outstanding | — | — |
| Ordinary shares, issued and outstanding | 138.7 | 137.6 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in millions)
| Description | Six months ended June 27, 2026 | Six months ended June 28, 2025 |
|---|---|---|
| Cash Flows From (For) Operating Activities | ||
| Net income (loss) | (324.1) | (14.8) |
| Adjustments to derive cash flows: | ||
| Depreciation and amortization | 179.1 | 166.2 |
| Restructuring charges | 84.9 | 35.0 |
| Share-based compensation | 21.2 | 28.4 |
| Impairment charges | 331.8 | 4.6 |
| Amortization of debt discount | 4.1 | 4.4 |
| Deferred income taxes | (19.3) | 9.6 |
| (Gain) loss on sale of business | (129.5) | 1.6 |
| Amortization on hedging instruments | (10.3) | (12.6) |
| Other non-cash adjustments, net | (8.7) | 1.2 |
| Subtotal | 129.3 | 223.6 |
| Increase (decrease) in cash due to: | ||
| Inventories | 74.2 | (97.4) |
| Accrued income taxes | (13.4) | (54.5) |
| Payroll and related taxes | (45.0) | (23.6) |
| Accounts payable | (66.8) | (19.9) |
| Accrued customer programs | 0.5 | (0.6) |
| Other accrued liabilities | 44.4 | (29.3) |
| Accounts receivable | (102.3) | (5.9) |
| Other long term liabilities | 2.6 | 2.4 |
| Prepaid expenses and other current assets | (54.6) | 16.6 |
| Subtotal | (160.3) | (212.2) |
| Net cash (for) from operating activities | (31.0) | 11.4 |
| Cash Flows From (For) Investing Activities | ||
| Net proceeds from sale of businesses | 362.9 | 14.4 |
| Asset acquisitions, net | — | (1.5) |
| Additions to property, plant and equipment | (28.1) | (44.7) |
| Other investing, net | 2.2 | 2.3 |
| Net cash from (for) investing activities | 337.0 | (29.5) |
| Cash Flows From (For) Financing Activities | ||
| Payments on long-term debt | (759.3) | (17.6) |
| Cash dividends | (80.1) | (79.5) |
| Borrowings of revolving credit agreements and other financing, net | 427.6 | — |
| Payments for debt issuance costs | (5.5) | — |
| Shares used to settle taxes | (7.0) | (17.7) |
| Other financing, net | (9.9) | (1.0) |
| Net cash for financing activities | (434.2) | (115.8) |
| Effect of exchange rate changes on cash and cash equivalents | (6.1) | 29.3 |
| Net decrease in cash and cash equivalents | (134.2) | (104.6) |
| Cash and cash equivalents of continuing operations, beginning of period | 531.6 | 558.8 |
| Cash and cash equivalents held for sale, beginning of period | 2.3 | — |
| Less cash and cash equivalents held for sale, end of period | — | — |
| Cash and cash equivalents of continuing operations, end of period | 399.7 | 454.2 |
Amounts as printed on the EDGAR/iXBRL face — (in millions, except per share amounts); (in millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗
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About PERRIGO Co plc
Source: Item 1 (Business) from the 10-K filed February 26, 2026. Description as filed by the company with the SEC.
ITEM 1. BUSINESS
Perrigo Company plc was incorporated under the laws of Ireland on June 28, 2013 and became the successor registrant of Perrigo Company, a Michigan corporation, on December 18, 2013 in connection with the acquisition of Elan Corporation, plc ("Elan"). Unless the context requires otherwise, the terms "Perrigo," the "Company," "we," "our," "us," and similar pronouns used herein refer to Perrigo Company plc, its subsidiaries, and all predecessors of Perrigo Company plc and its subsidiaries.
WHO WE ARE
Perrigo is a leading pure-play self-care company with more than a century of providing high-quality health and wellness solutions to meet the evolving needs of consumers. As one of the originators of the over-the-counter ("OTC") self-care market, Perrigo is led by its vision "To Provide The Best Self-Care For Everyone" and its purpose to "Make Lives Better Through Trusted Health and Wellness Solutions, Accessible To All".
Perrigo works to fulfill its vision and purpose as a top-tier consumer self-care company with a focused portfolio based on consumer-led innovation, which meets societal needs for:
•Access: Perrigo's self-care products and solutions enhance the daily lives of millions of families, empowering them to take control of their health and wellness.
•Value: Perrigo delivers value by helping consumers proactively manage their well-being through affordable and effective self-care solutions.
•Reliability: Perrigo ensures the safety and effectiveness of its self-care solutions, best serving its consumers.
Read full description ↓
Perrigo provides access to trusted self-care solutions that can be used without the need to visit a health practitioner for a prescription. Guided by our vision and purpose, our strategic goal is to create sustainable and value accretive growth by 1) delivering consumer preferred brands and innovation, 2) driving category growth with our customers, 3) powering our business with our world-class, quality assured supply chain, including a focus on sustainability with meaningful goals to reduce greenhouse gas emissions, water, and waste, in addition to increasing the recyclability of our packaging, and 4) evolving our global organization to one cohesive operating model. Our unique competency is to deliver health and wellness solutions across multiple price and value tiers that improve access and choice for consumers.
Perrigo's broad offerings are well diversified across several major product categories as well as across geographies, primarily in North America and Europe, with no one product representing more than 5% of total revenue. In North America, Perrigo is the leading store brand private label provider of self-care products in many categories, including upper respiratory, healthy lifestyle and women's health, along with brands including Opill® and Mederma®. In Europe, our portfolio consists primarily of brands, including Compeed®, ellaOne®, Solpadeine®, Jungle Formula®, and ACO®.
Two key initiatives have been fundamental in advancing our self-care strategy — our Supply Chain Reinvention Program, a global supply chain efficiency program, and Project Energize, a global investment and efficiency program. In addition, we continue to invest in other initiatives, including innovation, information systems and tools, and our people to drive consistent and sustainable results.
Perrigo’s unique complementary businesses enable each individually to play a specific reinforcing role, where 1) store brands generate cash for investments into the Company’s key higher margin, higher growth brands, 2) branding and innovation capabilities deliver both brand and store brand demand generation designed to lead to stronger customer partnerships, 3) consumer-led innovation scaled across brands, store brands and geographies, and 4) leveraging global supply chain scale of more molecules at more price points to more consumers driving household penetration.
The Company’s plan to drive cash flow and total shareholder return is anchored behind its ‘Three-S’ plan – ‘Stabilizing’ Consumer Self-Care Americas store brand and infant formula businesses; ‘Streamlining’ the global portfolio, enterprise operating model and Consumer Self-Care International business; and ‘Strengthening’ what is working by prioritizing and increasing investments behind key brands. Further 2025 highlights can be found in