Perrigo (PRGO) Q4 Earnings Beat Estimates

Core Viewpoint - Perrigo reported quarterly earnings of $0.93 per share, exceeding the Zacks Consensus Estimate of$ 0.92 per share, and showing an increase from $0.86 per share a year ago, indicating a positive earnings surprise of 1.09% [1] - However, the company posted revenues of$ 1.14 billion, which fell short of the Zacks Consensus Estimate by 4.77% and decreased from $1.16 billion year-over-year, highlighting challenges in revenue performance [2] Earnings Performance - Over the last four quarters, Perrigo has surpassed consensus EPS estimates three times, demonstrating some consistency in earnings performance [2] - The company had a previous quarter expectation of$ 0.82 per share but reported $0.81, resulting in a negative surprise of -1.22% [1] Stock Performance and Outlook - Perrigo shares have declined approximately 3.2% since the beginning of the year, contrasting with the S&P 500's gain of 1.3%, indicating underperformance relative to the broader market [3] - The company's earnings outlook is crucial for future stock movements, with current consensus EPS estimates for the upcoming quarter at$ 0.57 on revenues of $1.13 billion, and$ 3.05 on revenues of $4.61 billion for the current fiscal year [7] Industry Context - The Medical - Products industry, to which Perrigo belongs, is currently ranked in the bottom 49% of over 250 Zacks industries, suggesting a challenging environment for stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact investor sentiment and stock performance [5]