Financial Performance - Fiscal Year 2024 adjusted EPS was $2.57, at the midpoint of the company's guidance range, despite a reported loss of $(1.17) per share[1]. - Fourth Quarter 2024 net sales were $1.14 billion, a decline of 1.6%, with organic growth of 0.7% offset by divestitures and currency translation impacts of 2.3%[3]. - Fiscal Year 2024 net sales totaled $4.37 billion, a decrease of 6.1%, with organic net sales down 4.5% due to lower cough and cold demand and SKU prioritization actions[5]. - Reported net loss for the fiscal year was $(161) million, or $(1.17) per diluted share, compared to a net loss of $(4) million in the prior year[53]. - For the twelve months ended December 31, 2024, reported net sales were $4,373.4 million, a decline of 6.0% from $4,655.6 million in 2023[100]. Operating Income and Margins - Fourth Quarter 2024 adjusted operating income increased by $27 million, or 16.0%, to $194 million, driven by Project Energize and Supply Chain Reinvention programs[3]. - Reported operating margin for Q4 2024 was 10.0%, an increase of 1,130 basis points year-over-year, while adjusted operating margin expanded to 17.0%[3]. - Adjusted operating income for the fiscal year increased by 6.0% to $609 million, with an adjusted operating margin of 13.9%, expanding by 160 basis points[51][52]. - Adjusted operating income for CSCA for the three months ended December 31, 2024, was $145.8 million, representing 19.6% of reported net sales, compared to $143.0 million or 19.2% in 2023[116]. - Adjusted operating income for CSCI for the three months ended December 31, 2024, was $83.4 million, which is 21.2% of reported net sales, up from $65.1 million or 15.8% in 2023[116]. Cash Flow and Assets - Fiscal Year 2024 operating cash flow was $363 million, reflecting a cash flow conversion rate of 103%[11]. - Cash from operations for fiscal year 2024 was $363 million, down from $406 million in the previous year, resulting in a cash conversion rate of approximately 103%[70]. - As of December 31, 2024, cash and cash equivalents were $559 million, with total debt at $3.62 billion after repaying $400 million in senior notes[71]. - Total assets decreased to $9,647.7 million as of December 31, 2024, from $10,809.1 million in 2023[90]. - Total liabilities decreased to $5,328.3 million as of December 31, 2024, from $6,041.2 million in 2023[90]. Sales by Segment - Consumer Self-Care International (CSCI) net sales were $394 million, down 4.5%, while organic net sales grew 1.8% driven by higher sales in Upper Respiratory and Pain & Sleep-Aids categories[3]. - Consumer Self-Care Americas (CSCA) net sales were flat at $744 million, with growth in Nutrition and Skin Care offset by lost distribution of lower margin products[3]. - CSCA net sales for the fiscal year decreased by 9.1% to $2.69 billion, with organic net sales declining by 8.6%[57][58]. - CSCI net sales for fiscal year 2024 were $1.68 billion, a decrease of 0.8% compared to the prior year, primarily due to divested businesses and currency translation impacts[64]. - Nutrition segment net sales increased by 14.8% to $145.7 million for the three months ended December 31, 2024, driven by a 17% increase in infant formula products[129]. Gross Profit and Margins - Reported gross profit decreased by $33 million, or 13.0%, to $217 million, with a reported gross margin of 29.1%, down 440 basis points year-over-year[29][30]. - Reported gross profit for the fiscal year decreased by $138 million, or 8.2%, to $1.54 billion, with a reported gross margin of 35.3%, down 80 basis points[49][50]. - Adjusted gross margin was 51.7%, a decrease of 40 basis points compared to the prior year, influenced by divested businesses and lower sales volumes[66]. - Adjusted gross profit for the twelve months ended December 31, 2024, was $1,697.9 million, accounting for 38.8% of reported net sales, consistent with the prior year[99]. - Adjusted gross profit for Q4 2024 was $423.9 million, a decrease of $36.4 million or 7.9% compared to Q4 2023[134]. Strategic Initiatives - Project Energize is expected to deliver annualized pre-tax savings of $140 million to $170 million by 2026, with $40 million to $60 million reinvested[13]. - The company plans to share its 2025-2027 strategic plan at an upcoming Investor Day event[11]. - The company anticipates ongoing restructuring-related charges as part of its strategic initiatives[81]. - The company reported a gain on divestitures and investment securities of $28.1 million during the twelve months ended December 31, 2024[107][109]. - The divestiture of the HRA Pharma Rare Diseases Business significantly impacted the Digestive Health and Other segment, which saw a 50.0% decrease in net sales to $25 million[133].

Core Insights - Perrigo Company plc reported a fiscal year 2024 adjusted EPS of $2.57, aligning with the midpoint of its guidance range, despite a reported loss of $(1.17) per share [5][19][43] - The company achieved a 17% growth in infant formula net sales in Q4 2024 compared to the prior year, primarily due to market share gains and recovering customer inventory levels [5][6][14] - The company is focused on stabilizing, streamlining, and strengthening its organization to foster long-term sustainable growth [6][7] Fiscal Year 2024 Highlights - Total net sales for fiscal year 2024 were $4.37 billion, a decrease of 6.1% compared to the prior year, with organic net sales declining by 4.5% [37][43] - Adjusted operating income increased by 6.0% to $609 million, driven by benefits from Project Energize and Supply Chain Reinvention [41][43] - Reported net loss for the year was $(161) million, compared to a loss of $(4) million in the prior year [43] Fourth Quarter 2024 Highlights - Fourth quarter net sales were $1.14 billion, down 1.6% year-over-year, with organic growth of 0.7% offset by divestitures and currency translation impacts [8][13][37] - Adjusted operating income for Q4 2024 was $194 million, a 16.0% increase from the prior year, attributed to Project Energize initiatives [17][41] - The reported operating margin improved to 10.0%, a significant increase of 1,130 basis points compared to the prior year quarter [18][41] Business Segment Performance - Consumer Self-Care Americas (CSCA) segment net sales were flat at $744 million, with organic growth driven by the Nutrition category, particularly infant formula [22][23] - Consumer Self-Care International (CSCI) segment net sales declined 4.5% to $394 million, with organic growth of 1.8% primarily from the Upper Respiratory and Pain & Sleep-Aids categories [29][51] - CSCI reported an adjusted operating income increase of 28.1% to $83 million, reflecting the benefits of Project Energize [33][56] Project Energize - Project Energize is a global investment and efficiency program aimed at enhancing organizational agility and capabilities, expected to yield annualized pre-tax savings of $140 million to $170 million by 2026 [9][10] - In 2024, Project Energize achieved gross annual savings of approximately $139 million while incurring restructuring charges of $95 million [10][41] Cash Flow and Balance Sheet - Fiscal year 2024 operating cash flow was $363 million, with a cash conversion rate of 102% [57] - As of December 31, 2024, cash and cash equivalents totaled $559 million, and the company fully repaid its $400 million Senior Notes [58]

Group 1 - Perrigo Company plc is a leading provider of Consumer Self-Care Products and over-the-counter health and wellness solutions [2] - The company will present at the UBS 2025 Global Consumer and Retail Conference on March 12, 2025, at 10 AM ET in New York City [1] - Interested parties can access the presentation via a webcast on the Perrigo website [1] Group 2 - The company focuses on empowering consumers to proactively prevent or treat self-manageable conditions [2]

Core Viewpoint - Wall Street analysts forecast that Perrigo (PRGO) will report quarterly earnings of $0.92 per share, reflecting a year-over-year increase of 7%, with anticipated revenues of $1.2 billion, marking a 3.3% increase compared to the previous year [1]. Earnings Projections - The consensus EPS estimate has been revised downward by 4.4% in the past 30 days, indicating a reassessment by covering analysts [2]. - Changes in earnings projections are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate trends and short-term stock price movements [3]. Revenue Estimates - Analysts expect 'Net Sales- Consumer Self-Care Americas (CSCA)' to be $766.89 million, a 3% increase year-over-year [5]. - 'Net Sales- Consumer Self-Care International (CSCI)' is projected to reach $422.82 million, indicating a 2.5% year-over-year change [5]. - 'Net Sales- CSCA- Oral care' is expected to be $72.34 million, reflecting a decrease of 5.1% from the prior year [5]. - 'Net Sales- CSCA- Nutrition' is estimated at $147.32 million, showing a significant increase of 15.3% year-over-year [6]. - 'Net Sales- CSCA- Healthy Lifestyle' is projected to be $92.30 million, indicating a slight increase of 0.8% [6]. Geographic Revenue - 'Geographic Revenue- Europe' is expected to be $419.08 million, reflecting a 7.5% year-over-year increase [7]. - 'Geographic Revenue- U.S.' is projected at $740.92 million, showing a minimal increase of 0.1% [7]. - 'Geographic Revenue- All other countries' is anticipated to reach $40.37 million, indicating a substantial increase of 52.3% year-over-year [8]. Profit Estimates - 'Gross Profit- Consumer Self-Care International- Adjusted (CSCI)' is expected to be $220.42 million, up from $206.30 million in the same quarter last year [8]. - 'Gross Profit- Consumer Self-Care Americas- Adjusted (CSCA)' is projected at $256.58 million, compared to $253.90 million from the previous year [9]. Market Performance - Shares of Perrigo have shown a return of +0.4% over the past month, contrasting with the Zacks S&P 500 composite's -1.8% change [10].

Core Viewpoint - Perrigo Company plc (PRGO) is set to report its fourth-quarter and full-year 2024 results on February 27, with expectations of sales and earnings growth compared to the previous year [1] Group 1: Upcoming Results - The Zacks Consensus Estimate for Perrigo's sales is $1.20 billion and earnings at 92 cents per share, indicating an increase from the previous year [1] - Sales are expected to benefit from higher net price realization due to strategic price increases across both segments: Consumer Self Care Americas (CSCA) and Consumer Self Care International (CSCI) [2] - The sales estimates for CSCA are $767 million (Zacks Consensus) and $774 million (model estimate), while for CSCI, they are $423 million (Zacks Consensus) and $424 million (model estimate) [3] Group 2: Earnings Performance - Perrigo has shown a decent earnings performance over the last four quarters, beating estimates in three of those quarters and missing once, with an average surprise of 8.41% [4] - Year-to-date, Perrigo's shares have declined nearly 2%, contrasting with a 10% growth in the industry [4] Group 3: Earnings Prediction - The current model does not predict an earnings beat for Perrigo, as it has an Earnings ESP of -4.92%, with the Most Accurate Estimate at 87 cents per share, lower than the Zacks Consensus Estimate of 92 cents [6][7] - Perrigo holds a Zacks Rank of 4 (Sell), indicating a less favorable outlook compared to stocks with higher ranks [7]

Core Viewpoint - Perrigo Company plc has announced a 5% increase in its quarterly dividend, marking the 22nd consecutive year of dividend growth [1] Group 1: Dividend Announcement - The quarterly dividend will increase to $0.290 per share, translating to an annual dividend of $1.16 per share, up from $0.276 per share [1] - The cash dividend is scheduled to be payable on March 25, 2025, to shareholders of record on March 7, 2025 [1] Group 2: Company Overview - Perrigo Company plc is a leading provider of Consumer Self-Care Products and over-the-counter health and wellness solutions [2] - The company focuses on empowering consumers to proactively prevent or treat self-manageable conditions [2]

Core Insights - Opill® has launched an educational college campus tour as part of its multiyear partnership with the WNBA to enhance reproductive health education and access to birth control resources [1][2] - The initiative, named Level The Court, aims to empower Black women and girls by addressing barriers to reproductive health services and providing resources [3][6] - The partnership includes the establishment of the BWHI Opill® Access Fund to supply Opill® to Black women facing temporary challenges [3] Company Initiatives - Opill® is focusing on reaching communities with high needs for reproductive health resources, particularly in states with restrictive reproductive health laws [4][6] - The initiative will include events at Historically Black Colleges and Universities (HBCUs) throughout the spring semester [3][6] - A dedicated webpage has been launched on WNBA.com to provide personal stories, answers to common reproductive health questions, and information on accessing Opill® [2] Event Details - The University of South Carolina will host a WNBA on Campus event presented by Opill® on February 25, 2025, featuring various student engagement activities [5][6] - The campus tour will cover 15 colleges and universities, with a focus on states like Texas, Tennessee, Indiana, and Arkansas [4][6] Brand Engagement - WNBA players will engage with communities to promote reproductive rights and health equity [4] - Comedian Hannah Berner will participate in the campus tour to discuss the importance of accessible birth control options [4][6] Organizational Background - Opill® is the first over-the-counter birth control pill available in the U.S., designed to help prevent pregnancy [8] - The WNBA is recognized as the fastest-growing brand in 2024, with significant engagement across various platforms [10] - The Black Women's Health Imperative (BWHI) focuses on advancing the health and well-being of Black women and girls [11]

Core Viewpoint - Perrigo Company plc plans to release its fourth quarter and fiscal year 2024 financial results on February 27, 2025, and will host a Virtual Investor Day on February 28, 2025 [1] Company Overview - Perrigo Company plc is a leading provider of Consumer Self-Care Products and over-the-counter (OTC) health and wellness solutions aimed at enhancing individual well-being [2] Investor Relations - Interested parties can access the Virtual Investor Day event online and are encouraged to register in advance [1]

Group 1 - Perrigo is focused on the OTC consumer healthcare market and has been divesting from multiple business units to streamline operations and concentrate on branded-OTC brands [1] - The company aims to simplify its supply chain as part of its strategic focus [1] Group 2 - Building Benjamins is a free investment newsletter associated with Tradition Investment Management, LLC, founded by Benjamin Halliburton, who has extensive experience in investment management [2] - Halliburton has a notable background, including being named "PSN Manager of the Decade" for both All-Cap and Dividend Value categories in different decades [2] - He has a strong educational background with an MBA from Duke's Fuqua School of Business and is a Chartered Financial Analyst [2]

Core Insights - The article emphasizes the importance of investing in growth and momentum stocks that are reasonably priced and have the potential to outperform the market over the long term [1] - It highlights a successful investment strategy where the S&P 500 increased by 367% and the Nasdaq by 685% from March 2009 to 2019, indicating the potential for significant returns in quality stocks [1] Investment Strategy - The focus is on long-term investment in high-quality growth stocks, utilizing options as part of the strategy [1] - The article suggests that investors should conduct their own research or consult financial advisers to determine suitable investments for their individual situations [3] Market Performance - The significant market performance from 2009 to 2019 serves as a benchmark for potential future investments in similar growth stocks [1]