Perrigo: 3Q Earnings Snapshot
DUBLIN (AP) _ Perrigo Co. (PRGO) on Wednesday reported third-quarter net income of $92.2 million, after reporting a loss in the same period a year earlier.
The Dublin-based company said it had profit of 67 cents per share. Earnings, adjusted for one-time gains and costs, were $1.04 per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.
The drug company posted revenue of $1.19 billion in the period, which did not meet Street forecasts. Nine analysts surveyed by Zacks expected $1.2 billion.
Perrigo expects full-year earnings in the range of $3.85 to $4.05 per share.
Perrigo shares have increased 40% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 23%. The stock has fallen 25% in the last 12 months.