Perrigo Guides FY20 Below Estimates - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter on Thursday, Perrigo Company plc (PRGO) initiated its adjusted earnings and net sales growth guidance for the full-year 2020. For fiscal 2020, the company now projects adjusted earnings in a range of $3.95 to $4.15 per share on net sales growth of 6 to 7 percent, with organic net sales growth of approximately 3 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.37 per share on net sales growth of 4.3 percent to $5.02 billion for the year. Analysts' estimates usually exclude special items.

"As planned from the beginning, we will also continue to make the necessary investments in our business to sustain this growth over the long-term while concurrently setting the stage for 5% adjusted operating profit growth in Year 3 of the transformation plan and beyond," said Murray Kessler, President and CEO.