LONDON, UK / ACCESSWIRE / April 13, 2018 / Active-Investors.com has just released a free earnings report on Perrigo Co. PLC (NYSE: PRGO). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=PRGO. On March 01, 2018, Perrigo reported financial results for the fourth quarter and full year ended December 31, 2017. The Company surpassed analysts' estimates for revenue as well as earnings for Q4 FY17. Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Perrigo most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
Perrigo's total revenues for Q4 FY17 reached $1.28 billion, a decrease of 3.61% from $1.33 billion in Q4 FY16 owing to divestitures. Excluding the impact of divestitures, sales increased 2.1% due to positive execution across all business segments. The reported revenue number exceeded analysts' consensus estimates of $1.25 billion.
Perrigo had a gross profit of $512.7 million in Q4 FY17 compared to $487.7 million in Q4 FY16, reflecting an increase of 5.12%. The Company's research and development (R&D) expenses surged 12.74% to $46.9 million y-o-y and distribution, selling, general, and administrative expenses declined 4.47% to $301.3 million y-o-y in the reported quarter. Perrigo had an operating profit of $158.5 million in Q4 FY17 compared to an operating loss of $484.6 million in Q4 FY16.
During Q4 FY17, Perrigo reported a net income of $73.1 million, after a net loss of $1.36 billion in Q4 FY16. The Company had diluted earnings per share (DEPS) of $0.52 in the reported quarter compared to a diluted loss per share of $9.48 in the previous-year quarter. The reported quarter results included amortization of intangible assets, restructuring charges, acquisition charges, and milestone revenue related to royalty rights. Perrigo's adjusted DEPS, excluding non-recurring items, was $1.28 in Q4 FY17, up 3.23% from $1.24 in Q4 FY16. The Company's adjusted DEPS for Q4 FY17 beat analysts' consensus estimates of $1.24 per share.
For the year ending December 31, 2017, Perrigo's total revenues were $4.95 billion, 6.33% lower than $5.28 billion in FY16. The Company had an operating profit of $598.2 million in the reported year compared to an operating loss of $2 billion in the previous year. Perrigo reported a net income of $119.6 million, or $0.84 per share in FY17, after a net loss of $4.01 billion, or $28.01 per share in FY16. The Company's adjusted DEPS for full year 2017, excluding non-recurring items, was $4.93; a decrease of 2.76% from $5.07 in FY16.
Perrigo Co.'s Segment Details
During Q4 2017, the Consumer Healthcare Americas (CHCA) segment's net revenues were $643.5 million, up 2.66% y-o-y; led by strong performance from the gastrointestinal and analgesics categories. This segment had an adjusted operating income of $148.8 million in Q4 FY17, an increase of 6.74% from $139.4 million in Q4 FY16.
For Q4 FY17, the Consumer Healthcare International (CHCI) segment's net revenues declined 10.82% to $374.1 million on a y-o-y basis. This segment's net sales grew 3.3% y-o-y on a constant currency basis in Q4 FY17, excluding exited European distribution businesses. CHCI segment's adjusted operating income for the quarter under review was $57.3 million, 57.42% higher than $36.4 million in the year ago corresponding quarter.
The Prescription Pharmaceuticals segment reported net revenues of $261.30 million in Q4 FY17, a decrease of 1.73% from the previous year's same quarter, owing to lower sales of Entocort due to competitive pressures and price erosion. The segment had an adjusted operating income of $99.5 million in Q4 FY18, 13.48% lower than $115 million in Q4 FY16.
Perrigo had cash and cash equivalents of $678.7 million as on December 31, 2017, up 9.06% from $622.30 million as on December 31, 2016. The Company's long-term debt reduced 37.39% to $3.27 billion as on December 31, 2017, from $5.22 billion as on December 31, 2016.
Perrigo's cash flow from operating activities for FY17 was $698.9 million, 6.72% higher than the $654.90 million reported in FY16. The Company spent $88.6 million on additions to property, plant, and equipment in the reported year compared to $106.2 million in the previous year.
Perrigo distributed cash dividends of $91.1 million in FY17, an increase of 9.50% from $83.2 million in FY16. The Company spent $191.5 million on repurchase of ordinary shares in FY17.
For fiscal year 2018, Perrigo expects reported net sales to be in the range of $5.0 billion to $5.1 billion, reported operating income to be in the range of $682 million to $742 million, and reported DEPS to be in the range of $2.24 to $2.64. The Company expects adjusted operating income to be in the range of $1.03 billion and $1.09 billion, and adjusted DEPS to be in the range of $5.05 to $5.45 in FY18.
Stock Performance Snapshot
April 12, 2018 - At Thursday's closing bell, Perrigo's stock dropped 1.32%, ending the trading session at $80.86.
Volume traded for the day: 1.16 million shares, which was above the 3-month average volume of 1.04 million shares.
Stock performance in the past twelve-month period - up 17.17%
After yesterday's close, Perrigo's market cap was at $11.63 billion.
Price to Earnings (P/E) ratio was at 85.12.
The stock has a dividend yield of 0.94%.
The stock is part of the Healthcare sector, categorized under the Drug Related Products industry. This sector was up 0.8% at the end of the session.
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