Every material Form 8-K Perrigo has filed with the SEC since June 04, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Perrigo reported third-quarter 2026 net sales of $989 million, down 5.2% from a year earlier, and a GAAP net loss of $27.5 million. The company cut its Core full-year 2026 adjusted EPS outlook to $2.15 to $2.35 from $2.25 to $2.55, citing softer consumer demand, retailer inventory positioning and Europe. It also agreed to sell its Infant Formula business for up to $175 million and expects a $275 million to $375 million impairment loss in the fourth quarter.
All In adjusted diluted EPS was $0.60 versus $0.80 a year earlier, down 25.0%; Core adjusted EPS was $0.61, down 9.0%.
Full-year 2026 Core adjusted EPS outlook is $2.15 to $2.35, down from $2.25 to $2.55; All In outlook is $2.25 to $2.45, up from $2.00 to $2.30 and reflects the Infant Formula divestiture.
Infant Formula sale carries $40 million in upfront cash at closing plus up to $135 million contingent on net sales milestones through 2030.
Expected impairment loss of $275 million to $375 million to be recognized in the fourth quarter of 2026.
Perrigo agreed to sell its Infant Formula business to MeridianMade for total consideration of up to $175 million, including $40 million in cash at closing and up to $135 million contingent on performance milestones through 2030. The company expects a non-cash impairment charge of $275 million to $375 million in the fourth quarter of 2026, and says the deal should enhance its margin profile and significantly reduce future capital expenditures.
Total consideration of up to $175 million: $40 million cash at closing plus up to $135 million contingent on milestones through 2030
Expected non-cash impairment charge of $275 million to $375 million in the fourth quarter of 2026
In the trailing four quarters ended June 27, 2026, Infant Formula generated net sales of $380 million and segment adjusted operating income of $8 million
Closing is expected in the first half of 2027, subject to customary closing conditions and regulatory approvals
Perrigo reported second-quarter 2026 All In net sales of $1,023 million, down 3.2% from a year earlier, and All In adjusted diluted EPS of $0.50, down 12.3%. Reported diluted EPS was $0.63, helped by a gain on the Dermacosmetics sale, and the company reaffirmed its full-year 2026 All In adjusted EPS range of $2.00 to $2.30. For shareholders, the headline sales and adjusted profit measures declined, while the outlook was held rather than cut.
All In net sales were $1,023 million versus $1,056 million; Core net sales were $907 million, down 3.1%.
All In adjusted diluted EPS was $0.50 versus $0.57; Core adjusted diluted EPS was $0.46 versus $0.58.
Reported diluted EPS was $0.63 versus $0.00, benefiting from the gain on the Dermacosmetics divestiture, which closed in the quarter.
Full-year 2026 All In adjusted EPS outlook of $2.00 to $2.30 was reaffirmed; cash and equivalents were $400 million and total debt $3.3 billion as of June 27, 2026.
Perrigo's board reinstated an executive severance policy on June 29, 2026, which had ended in January 2020. It covers executive officers other than the interim CEO and any successor CEO, during a transition period running from June 7, 2026 until 12 months after a successor to Patrick Lockwood-Taylor starts as CEO. The filing ties the policy to a CEO transition, which may matter to shareholders because it sets severance costs for executives if they are terminated or resign for good reason.
Policy reinstated June 29, 2026; previously terminated effective January 15, 2020
Covers qualifying terminations from June 7, 2026 until 12 months after a successor CEO to Patrick Lockwood-Taylor commences employment
Eligible executives receive 1.5 times the sum of base salary and target bonus over an 18-month severance period, plus employer COBRA premiums and a pro rata bonus based on actual performance
Payments are subject to a release of claims and confidentiality, non-disparagement, non-compete and non-solicitation provisions
Perrigo Company plc's Board appointed Salman Amin and Omer Gajial as directors effective June 30, 2026, increasing the Board from 8 to 10 members. The filing describes both as independent directors, and it does not report any financial results or changes to guidance.
Salman Amin, age 66, previously served as Chief Executive Officer of pladis Global and joins the Audit Committee and Nominating and Governance Committee.
Omer Gajial, age 52, currently serves as Chief Executive Officer of GoTo Foods and joins the Talent and Compensation Committee.
Both appointments are effective June 30, 2026; the Board size increased from 8 to 10.
Each new director will receive non-employee director compensation as described in the proxy statement filed March 20, 2026.
Perrigo's President and CEO Patrick Lockwood-Taylor resigned on June 7, 2026, effective immediately, after the Board found that certain personal conduct was not consistent with the company's Code of Conduct. Director Albert A. Manzone was appointed interim President and CEO, and the Board has started a search for a permanent CEO. The company said the conduct did not involve its business, strategy, operations, financial reporting, or results, and it reaffirmed its full-year 2026 outlook.
Lockwood-Taylor resigned as President, CEO and board member on June 7, 2026, effective immediately.
The Board cited personal conduct inconsistent with the Code of Conduct and core values, and said the conduct did not involve business, financial reporting or results.
Manzone, a director since 2022, was appointed interim President and CEO on June 7, 2026; the Board reduced its size from 9 to 8 directors.
Perrigo reaffirmed 2026 outlook from its May 6, 2026 release, including All In adjusted EPS of $2.00 to $2.30; compensation terms for Manzone are not yet set.
Perrigo reported first-quarter 2026 results from continuing operations, with reported net sales down 7.2% to $969 million and a $330.8 million goodwill impairment charge that drove a reported diluted loss per share of $(2.81). Adjusted All In diluted EPS fell 28.3% to $0.43, and the company maintained its full-year 2026 outlook, including adjusted EPS guidance of $2.00 to $2.30 on an All In basis, while completing the Dermacosmetics sale after quarter end.
Reported net sales were $969 million, down 7.2% year over year; Core net sales were $842 million, down 8.3%.
Reported diluted EPS was $(2.81) for continuing operations, primarily due to the $330.8 million goodwill impairment charge.
Adjusted All In diluted EPS was $0.43, down 28.3%; Core adjusted diluted EPS was $0.40, down 20.0%.
The company maintained its 2026 outlook, with All In adjusted EPS guidance of $2.00 to $2.30, and completed the Dermacosmetics sale for €305.6 million in upfront cash after quarter end.
At its April 30, 2026 Annual General Meeting, Perrigo shareholders approved the 2026 Long-Term Incentive Plan, which replaces the 2019 plan, and elected all nine director nominees. Shareholders also ratified Ernst & Young LLP as auditor for 2026 and approved the advisory executive compensation vote and two Irish-law share authority renewals.
Shareholders approved the 2026 Long-Term Incentive Plan with 101,486,928 votes for and 5,721,273 against
All nine director nominees were elected to serve until the 2027 Annual General Meeting; Albert A. Manzone received the most votes against at 15,132,058
Ernst & Young LLP was ratified as independent auditor for the year ending December 31, 2026, with 113,450,862 votes for and 2,682,439 against
Perrigo completed the sale of its Dermacosmetics branded business to Karo Healthcare on April 30, 2026. Karo paid €305.6 million in upfront cash, including €5.6 million in net working capital adjustments, with up to €27.0 million more contingent on net sales milestones over three years. The company says the net proceeds will be used primarily to reduce debt.
Closed April 30, 2026, with upfront cash of €305.6 million, including €5.6 million in net working capital adjustments
Up to €27.0 million in additional contingent consideration, tied to net sales milestones over three years
Net proceeds expected to be used primarily to reduce debt, according to CEO Patrick Lockwood-Taylor
Business generated about €120 million in net sales in calendar 2025, or about 5% of adjusted operating income
Perrigo furnished recast financial information under three new product-category segments, replacing its geographic structure, with the change effective in the first quarter of 2026. The recast data show 2025 consolidated net sales of $4,253.1 million, down from $4,373.4 million in 2024, and a reported 2025 operating loss of $1,122.2 million driven by a fourth-quarter impairment charge of $1,358.5 million.
Reported operating loss of $1,122.2 million for full-year 2025, including a fourth-quarter loss of $1,287.2 million.
Fourth-quarter 2025 impairment charges of $1,358.5 million, including a goodwill impairment charge of $1.3 billion.
Consolidated adjusted operating income of $622.3 million for 2025; consolidated net sales of $4,253.1 million versus $4,373.4 million in 2024.
Segment change announced February 26, 2026; new segments are Self Care, Specialty Care, Infant Formula, and All Other. The company states the change has no impact on historical consolidated results.
Perrigo entered into an Amended and Restated Credit Agreement on March 20, 2026, which extends the maturity of its $1.0 billion revolving credit facility to March 20, 2031 and removes the credit spread adjustment on revolver loans. The company drew on the revolver to prepay its Term A Loans in full, and the $972.4 million Term Loan B facility is unchanged. For shareholders, the filing shows a refinancing of existing debt with a later maturity, with the facilities secured by Loan Party assets and subject to financial covenants.
Revolving Facility of $1.0 billion matures March 20, 2031, replacing the prior maturity
Term Loan B Facility of $972.4 million, maturing April 20, 2029, is unchanged
Proceeds from a revolver drawdown were used to prepay Term A Loans in their entirety
Facilities are secured by Loan Party assets and subject to secured net leverage and cash interest coverage covenants
Perrigo reported fourth-quarter 2025 net sales of $1.11 billion, down 2.5% year over year, and a reported net loss of $1.41 billion, or $(10.20) per share, driven mainly by a $1.3 billion goodwill impairment. Adjusted EPS fell to $0.77 from $0.93, and the company's FY2026 'All In' adjusted diluted EPS outlook of $2.00 to $2.30 is below the FY2025 adjusted EPS of $2.75.
Q4 2025 net sales were $1.11 billion, down 2.5%; organic net sales fell 4.5%, with infant formula a key drag.
Reported Q4 EPS was $(10.20) versus $(0.30) a year earlier, due primarily to the $1.3 billion goodwill impairment.
FY2026 'All In' net sales outlook is -5.5% to -1.5%; the 'CORE' adjusted EPS outlook is $2.25 to $2.55 versus FY2025 CORE adjusted EPS of $2.52.
The company plans a two-year operational enhancement program with about 7% workforce reduction and $80 million to $100 million in pre-tax annualized savings by the end of FY2027.
Perrigo reported third-quarter 2025 net sales of $1.04 billion, down 4.1% year over year, and adjusted diluted EPS of $0.80 versus $0.81 a year earlier. The company lowered its full-year 2025 outlook, now projecting adjusted diluted EPS of $2.70 to $2.80 and reported net sales growth of -2.5% to -3.0%, citing infant formula industry dynamics and soft OTC consumption. It also said it is starting a strategic review of its infant formula business, adding to the existing review of Oral Care.
Q3 2025 net sales were $1.04 billion, down 4.1%; reported diluted EPS was $0.09 versus a loss of $(0.13) a year earlier
Q3 2025 adjusted diluted EPS was $0.80, down from $0.81; adjusted operating income was $173 million, down 4.9%
Full-year 2025 outlook revised: adjusted diluted EPS of $2.70 to $2.80 and reported net sales growth of -2.5% to -3.0%
Strategic review of the infant formula business announced November 5, 2025; Oral Care review continues and Dermacosmetics sale is expected to close in Q1 2026
Perrigo reported second-quarter 2025 results for the period ended June 28, 2025, with net sales of $1.06 billion, down 0.9% year over year, and adjusted diluted EPS of $0.57, up 7.5%. The company reaffirmed its full-year 2025 adjusted EPS target of $2.90 to $3.10 but now expects reported and organic net sales growth toward the lower end of its ranges, citing infant formula recovery that is slower than anticipated and weak market consumption.
Net sales were $1.06 billion, down 0.9%, with divestitures and exited products reducing sales by 2.5% and currency adding 1.7%.
Reported diluted EPS was $0.00 versus a loss of $(0.77) a year earlier; adjusted diluted EPS was $0.57 versus $0.53.
Full-year 2025 outlook: reported net sales growth of 0% to 3%, adjusted diluted EPS of $2.90 to $3.10, with net sales expected toward the lower end of the ranges.
The Dermacosmetics business sale is expected to close in the first quarter of 2026.
Perrigo agreed on July 13, 2025 to sell its Dermacosmetics branded business in Northern Europe, the Netherlands and Poland to Kairos Bidco AB, a vehicle managed by an affiliate of KKR, for €300 million in upfront cash plus up to €27 million in contingent payments. The business generated about €125 million in 2024 net sales and about 5% of Perrigo's 2024 adjusted operating income, and the company says expected net proceeds will go toward balance sheet strengthening and other capital allocation priorities. The deal is expected to close in the first quarter of 2026, subject to regulatory approvals and works council consultation.
Upfront cash of €300 million at closing, subject to customary adjustments for inventory, working capital, debt and cash
Up to €27 million in additional contingent payments tied to performance thresholds over three years
Business generated about €125 million in 2024 net sales and about 5% of 2024 adjusted operating income
Expected closing in the first quarter of 2026; either party may terminate if closing is not completed within 18 months of signing
Perrigo eliminated the EVP and President roles for its Consumer Self-Care Americas and International businesses as part of an organizational update. Triona Schmelter stepped down June 30, 2025, and will serve in an advisory role until October 31, 2025, while Roberto Khoury was named EVP and Chief Commercial Officer effective July 1, 2025. The company said the change does not affect its full-year 2025 adjusted EPS guidance or reporting segments.
Triona Schmelter stepped down as EVP and President, Consumer Self-Care Americas, on June 30, 2025, and is in an advisory role until October 31, 2025.
Schmelter's severance, subject to a supplemental release, includes one year of base salary, a prorated 2025 incentive bonus, one year of Company-paid COBRA benefits and two years of continued equity vesting.
Roberto Khoury, previously EVP and President, Consumer Self-Care International, was appointed EVP and Chief Commercial Officer effective July 1, 2025, reporting to CEO Patrick Lockwood-Taylor.
Perrigo said the alignment does not impact its full-year 2025 adjusted EPS guidance.
Perrigo said its EVP of Global Operations and Supply Chain, Ron Janish, will step down effective June 23, 2025, and serve in an advisory role until September 30, 2025. Matt Winterman, previously SVP of Global Supply Chain and Strategy at AstraZeneca, will succeed him effective June 23, 2025. The filing discloses no financial results or guidance, and the executive change is a leadership transition for the operations function.
Ron Janish steps down as EVP, Global Operations and Supply Chain effective June 23, 2025, and advises the company until September 30, 2025.
Janish's separation severance is a lump sum of 2.5 times his base salary and target annual bonus, plus statutory redundancy payments and continued vesting of equity awards, subject to a general release of claims.
Matt Winterman takes the role effective June 23, 2025; he previously oversaw a $54 billion supply chain across 5,000 SKUs at AstraZeneca.
The press release gives Winterman's title as EVP, Product Supply, Operations Strategy and Transformation Officer, while the 8-K describes it as EVP of Global Operations and Supply Chain.
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