Perrigo sees FY24 adjusted EPS $2.50-$2.65, consensus $2.99

Sees FY24 revenue flat, consensus $4.89B. Sees FY24 adjusted tax rate 20.5%. Lockwood-Taylor concluded, “We exited 2023 with our international business firing on all cylinders and our U.S. OTC business performing well amid a normalizing consumer environment. In addition, our accretive initiatives, which helped drive meaningful year-over-year financial results, remain on track. Heading into 2024, while we expect these positive trends to continue they will be balanced against headwinds from actions we are taking to augment and strengthen our infant formula business with stabilization expected in the second half of 2024. Though these actions will negatively impact our 2024 financial performance, I am confident we will augment and strengthen this business in 2024, which is the right thing to do for our consumers, customers and investors.”