Perrigo Clocks 5% Sales Growth In Q4, Bottom-Line Surpass Expectation

Perrigo Company plc PRGO Q4 FY21 sales increased 4.9% Y/Y to $1.1 billion, in line with the consensus of $1.10 billion, led by a strong rebound in demand for cough/cold products.

• Acquisitions accounted for 0.2% growth points, while unfavorable currency movements offset growth by 0.8%. Organic net sales growth was 5.5%.
• Adjusted EPS increased 27.7% at $0.60, better than the consensus of $0.56.
• Consumer Self-Care Americas sales grew 5% to $736 million, led by a strong rebound in demand for cough/cold products.
• Consumer Self-Care International sales grew 4.6% to $369 million, or 7.0%, excluding the impact of currency, driven primarily by strength across the cough/cold and dermatological product categories. 
• Guidance: Perrigo expects FY22 sales growth of 3.5% to 4.5%, with organic net sales growth of 7.0% - 8.0%. The company expects adjusted EPS of $2.10 - $2.30.
• Assuming a June 30, 2022 closing, the company expects the acquisition of HRA Pharma to add sales of $170 million - $190 million and adjusted EPS of approximately $0.30 in 2022.
• Price Action: PRGO shares are up 7.32% at $38.12 on the last check Tuesday.