Perrigo Q3 sales slightly beat expectations on market share gains
PRGO•Perrigo reported third-quarter sales of $989 million, slightly above analysts’ $987.2 million estimate, while core net sales fell 1.7% year over year. The company lowered its 2026 core net sales growth outlook to a decline of 3.6% to 2.5% and expects adjusted EPS of $2.15 to $2.35.
1. Quarterly sales
Perrigo’s third-quarter sales were $989 million, slightly above the $987.2 million analyst consensus. The company reported a loss per share of $0.10, while core net sales declined 1.7% year over year.
2. Sales pressures and gains
Perrigo said lower consumption and cautious retailer inventory positioning ahead of cough and cold season weighed on sales. Lower contract manufacturing volumes also contributed to the decline, while share gains in U.S. store-brand over-the-counter products and key European brands partly offset the pressures.
3. 2026 outlook
Perrigo lowered its 2026 core net sales growth outlook to a decline of 3.6% to 2.5%. It expects 2026 core adjusted EPS of $2.15 to $2.35 and a core adjusted operating margin of 14.0% to 15.0%, and announced the divestiture of its Infant Formula business to sharpen its focus on self-care categories.
