Perrigo cuts 2025 outlook as Q3 sales fall 4.1% and infant formula review starts
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.
Key points
- 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
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:56 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 05, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.