Perrigo beats by $0.05, misses on revs; cuts FY18 EPS, revs guidance
- Reports Q3 (Sep) earnings of $1.09 per share, excluding non-recurring items, $0.05 better than the S&P Capital IQ Consensus of $1.04; revenues fell 8.0% year/year to $1.13 bln vs the $1.17 bln S&P Capital IQ Consensus.
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Co lowers guidance for FY18, sees EPS of $4.45-4.65 (Prior $4.75-4.95), excluding non-recurring items, vs. $4.86 S&P Capital IQ Consensus; sees FY18 revs of ~$4.72 bln (Prior $4.8-4.9 bln) vs. $4.87 bln S&P Capital IQ Consensus.
- The company made the adjustment primarily due to revised expectation in the RX segment. In addition, reduced margin expectations in the CHC Americas segment are expected to be partially offset by improved margin expectations in the CHC International segment