Perrigo Reports Q3 2026 Earnings Decline Amid Lower Consumption and Inventory Headwinds
Perrigo (PRGO) reported a challenging third quarter for 2026, with core net sales falling 1.7% year-over-year to $908 million. The decline was primarily driven by reduced consumption in the Self Care segment and cautious retailer inventory positioning ahead of the cough and cold season. All-in reported net sales dropped 5.2% to $989 million, impacted further by divestitures and lower infant formula sales. Despite these headwinds, the company saw growth in U.S. store brand OTC volume (up 2%) and European key brand value sales (up 6.5%). Management is focusing on an operational enhancement program expected to yield up to $80 million in savings for the year. However, due to soft consumer environments in Europe and conservative retailer positioning, Perrigo lowered its full-year core net sales guidance to a decline of 2.5% to 3.6%.
Topics: eps decrease infant formula business net sales decline operating margin operational enhancement program