EarningsQ2 2026 Earnings Report
MX:PRGON Q2 2026 EPS Results
Actual EPS$8.57
Consensus EPS$6.65
Beat/MissBeat by +$1.92
One Year Ago EPS$9.77
MX:PRGON Q2 2026 Revenue Results
Actual Revenue$17.53B
Expected Revenue$17.41B
Beat/MissBeat by +$125.12M
YoY Revenue Growth-3.17%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeBefore Open
Conference CallWednesday, August 5, 2026
MX:PRGON Upcoming Earnings
Perrigo Company's next earnings date is estimated for November 11, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:PRGON Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call balanced clear operational progress and strategic actions against ongoing top-line and margin pressures. Positive indicators include market share gains, substantial service-level improvements, a recovering Infant Formula business (+23% sales, +$60M operating income), acceleration of a scalable innovation pipeline, targeted cost-savings ($80–$100M program) and the use of $359M divestiture proceeds to reduce debt. Offsetting these positives were a 3%+ decline in net sales, 250 basis points of gross margin compression, notable retailer destocking (≈1.8% headwind), specialty segment weakness and an expected ~$0.60 EPS headwind in 2026 from under-absorption. Management maintained full-year guidance and emphasized that results are weighted to a stronger second half, signaling cautious optimism but acknowledging remaining execution and demand risks.Company Guidance
Market Share Gains in U.S. and Europe
U.S. store brand OTC volumes grew 1.5% while the categories declined 1.1%, resulting in ~50 basis points of market share gain; key European brands grew 3.3% while category value declined 0.6%, delivering ~50 basis points of share gain. Management also noted an additional ~60 basis points gain in the most recent 4-week period in July.
Service Level and Operational Execution Improvement
Service levels materially improved since 2023: U.S. service levels up 1,600 basis points to 91% and international service levels up 1,000 basis points to 95%, supporting stronger retailer relationships and share gains.
Infant Formula Turnaround
Infant Formula all-in net sales grew 23% year-over-year; operating income improved by approximately $60 million YoY due to capacity rationalization, efficiency improvements and lower scrap/obsolescence.
Portfolio Simplification and Debt Reduction
Since 2024 divestitures have generated approximately $600 million in upfront proceeds. Q2 sale of Dermacosmetics generated $359 million, the majority of which was applied to debt reduction, lowering the amount drawn on the revolving credit facility.
Operational Enhancement Program & One-time Benefits
Operational enhancement program on track to deliver $80–$100 million of savings by 2027; Q2 benefited from accelerated OE implementation and one-time items (CEO transition benefit ~$6M, tariff recovery benefit ~$10M) which helped results exceed expectations.
Innovation & Growth Building Blocks
Innovation pipeline value has more than tripled since 2024 with over 55% of projects leveraging shared platforms, enabling more scalable launches across store brand and branded portfolios and supporting distribution and demand-generation initiatives (examples: Opill and Compeed momentum).
Liquidity and Cash Flow
Q2 operating cash flow was $83 million; cash and cash equivalents were $400 million, capital expenditures totaled $14 million, and $40 million was returned to shareholders via dividends during the quarter.
MX:PRGON Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed