Perrigo Sets 2026 All-In Adjusted EPS Outlook at $2.25 to $2.45

Perrigo Company plc set its 2026 all-in adjusted diluted EPS outlook at $2.25 to $2.45 after classifying its infant formula unit as discontinued operations.

For core operations, the company expects adjusted diluted EPS of $2.15 to $2.35. Its forecast also calls for core reported net sales to fall 2.5% to 3.6% and an adjusted operating margin of 14% to 15%.

Perrigo Interim President, Interim CEO and Director Albert Manzone said, “Over time, Perrigo has become too complex.” The company described the infant formula exit as a way to simplify operations, strengthen its margin profile and reduce future capital needs. Perrigo also said the business had been consuming cash.

Perrigo agreed to sell the unit to MeridianMade in a deal with a potential value of up to $175 million. The agreement includes $40 million upfront, with up to $135 million more tied to performance through 2030. The $175 million is the maximum potential value, not the amount payable upfront.

Cautious retailer inventories and continued softness among European consumers factored into the outlook. Perrigo said retailers could replenish stock if the season strengthens, but the timing remains uncertain between the fourth quarter and first quarter.