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Perrigo (PRGO) to Report Q4 Earnings: What's in the Cards?
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Perrigo Company plc (PRGO - Free Report) is scheduled to report fourth-quarter and full-year 2023 results on Feb 27, before the opening bell. In the last reported quarter, the company posted a negative earnings surprise of 1.54%.
Let’s see how things have shaped up for this announcement.
Factors at Play
During the fourth quarter, the performance of Perrigo’s Consumer Self Care Americas (CSCA) and Consumer Self Care International (CSCI) segments is expected to have been aided by products added through its HRA Pharma acquisition. Significant sales growth of new products is likely to have boosted sales in the soon-to-be-reported quarter. Currency movements and loss of sales following the divestiture of Latin American businesses are likely to have affected the company’s ex-U.S. sales.
The Zacks Consensus Estimate and our model estimate for CSCA sales stand at $763 million and $789 million, respectively. For sales in the CSCI segment, the Zacks Consensus Estimate and our model estimate are pegged at $424 million and $432 million, respectively.
Perrigo reported higher net price realization for its products through strategic price increases in recent quarters. The improving price trend will likely be reflected in fourth-quarter sales, contributing to the top line.
With the U.S. economy showing signs of stabilization and easing inflationary pressure, we expect a recovery in operating margins during the quarter.
Investors are likely to ask questions about potential product launches this year. We also expect management to provide an update on the expectedimpact of macroeconomic pressures in 2024.
Earnings Surprise History
Perrigo’s shares have dropped 0.5% year to date compared with the industry’s 3.1% fall.
Image Source: Zacks Investment Research
Perrigo’s earnings performance has been decent over the trailing four quarters. The company’s earnings beat estimates in three of the last four quarters and missed the mark on one occasion, registering an earnings surprise of 7.35% on average.
Our proven model does not predict an earnings beat for Perrigo this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not thecase here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Perrigo has an Earnings ESP of 0.00% as both the Most Accurate Estimate and Zacks Consensus Estimate are pegged at 83 cents.
Here are a few stocks worth considering from the healthcare space, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Sarepta Therapeutics (SRPT - Free Report) has an EarningsESP of +877.29% and a Zacks Rank #2.
Shares of Sarepta Therapeutics have gained 39.6% in the year-to-date period. Earnings of Sarepta beat estimates in each of the last four quarters, delivering an average earnings surprise of 48.67%.
Cullinan Oncology (CGEM - Free Report) has an Earnings ESP of +1.04% and a Zacks Rank #2.
Cullinan Oncology’s stock has risen 78.9% year to date. Cullinan beat earnings estimates in two of the last four quarters and missed the mark on one occasion while meeting the mark on another. On average, CGEM witnessed a negative earnings surprise of 10.66% in the last four quarters.
Arcutis Biotherapeutics (ARQT - Free Report) has an Earnings ESP of +25.58% and a Zacks Rank #3.
Arcutis Biotherapeutics’ stock has surged 187.9% year to date. Arcutisbeat earnings estimates in three of the last four quarters while missing the mark on one occasion. On average, ARQT delivered an earnings surprise of 9.23% in the last four quarters. Arcutis is scheduled to release its fourth-quarter results on Feb 27, before market open.
Image: Bigstock
Perrigo (PRGO) to Report Q4 Earnings: What's in the Cards?
Perrigo Company plc (PRGO - Free Report) is scheduled to report fourth-quarter and full-year 2023 results on Feb 27, before the opening bell. In the last reported quarter, the company posted a negative earnings surprise of 1.54%.
Let’s see how things have shaped up for this announcement.
Factors at Play
During the fourth quarter, the performance of Perrigo’s Consumer Self Care Americas (CSCA) and Consumer Self Care International (CSCI) segments is expected to have been aided by products added through its HRA Pharma acquisition. Significant sales growth of new products is likely to have boosted sales in the soon-to-be-reported quarter. Currency movements and loss of sales following the divestiture of Latin American businesses are likely to have affected the company’s ex-U.S. sales.
The Zacks Consensus Estimate and our model estimate for CSCA sales stand at $763 million and $789 million, respectively. For sales in the CSCI segment, the Zacks Consensus Estimate and our model estimate are pegged at $424 million and $432 million, respectively.
Perrigo reported higher net price realization for its products through strategic price increases in recent quarters. The improving price trend will likely be reflected in fourth-quarter sales, contributing to the top line.
With the U.S. economy showing signs of stabilization and easing inflationary pressure, we expect a recovery in operating margins during the quarter.
Investors are likely to ask questions about potential product launches this year. We also expect management to provide an update on the expectedimpact of macroeconomic pressures in 2024.
Earnings Surprise History
Perrigo’s shares have dropped 0.5% year to date compared with the industry’s 3.1% fall.
Image Source: Zacks Investment Research
Perrigo’s earnings performance has been decent over the trailing four quarters. The company’s earnings beat estimates in three of the last four quarters and missed the mark on one occasion, registering an earnings surprise of 7.35% on average.
Perrigo Company plc Price and EPS Surprise
Perrigo Company plc price-eps-surprise | Perrigo Company plc Quote
Earnings Whispers
Our proven model does not predict an earnings beat for Perrigo this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not thecase here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Perrigo has an Earnings ESP of 0.00% as both the Most Accurate Estimate and Zacks Consensus Estimate are pegged at 83 cents.
Zacks Rank: Perrigo currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are a few stocks worth considering from the healthcare space, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Sarepta Therapeutics (SRPT - Free Report) has an EarningsESP of +877.29% and a Zacks Rank #2.
Shares of Sarepta Therapeutics have gained 39.6% in the year-to-date period. Earnings of Sarepta beat estimates in each of the last four quarters, delivering an average earnings surprise of 48.67%.
Cullinan Oncology (CGEM - Free Report) has an Earnings ESP of +1.04% and a Zacks Rank #2.
Cullinan Oncology’s stock has risen 78.9% year to date. Cullinan beat earnings estimates in two of the last four quarters and missed the mark on one occasion while meeting the mark on another. On average, CGEM witnessed a negative earnings surprise of 10.66% in the last four quarters.
Arcutis Biotherapeutics (ARQT - Free Report) has an Earnings ESP of +25.58% and a Zacks Rank #3.
Arcutis Biotherapeutics’ stock has surged 187.9% year to date. Arcutisbeat earnings estimates in three of the last four quarters while missing the mark on one occasion. On average, ARQT delivered an earnings surprise of 9.23% in the last four quarters. Arcutis is scheduled to release its fourth-quarter results on Feb 27, before market open.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.