Perrigo Earnings: Here’s Why Investors are Bidding Up Shares
Perrigo Co. (NASDAQ:PRGO) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 6.39%.
Perrigo Co. Earnings Cheat Sheet
Results: Net income increased 6.28% to $106 million ($1.36 per diluted share) in the quarter versus a net gain of $99.74 million in the year-earlier quarter.
Revenue: Rose 5.35% to $883 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Perrigo Co. reported adjusted net income of $1.36 per share. By that measure, the company beat the mean analyst estimate of $1.31. It beat the average revenue estimate of $881.84 million.
Quoting Management: Chairman, President and CEO Joseph C. Papa concluded, “Once again, the strength of our diversified business model was evident this quarter. Our Consumer Healthcare manufacturing operations are producing higher volumes and are operating more efficiently than at any time in our history…