PRGO · Perrigo Company plc

0001585364-26-000048

Summary

Q1 2026 delivered sharp operating and net losses primarily from substantial goodwill impairments and lower volumes in Self Care, partially mitigated by tariff recoveries and Project Energize cost reductions.

Key takeaways

Revenue declined 7.2% to $969.2M from $1.0B, driven by lower net sales volumes primarily in Self Care amid soft consumer demand.
Net loss expanded to -$398.6M or -$2.87 diluted EPS from -$6.4M or -$0.05, due to impairments and operating pressures.
Operating cash flow worsened to -$113.6M from -$64.5M on larger net loss; free cash flow was -$127.4M after $13.8M capex.

Full analysis

The net loss widened to -$398.6 million or -$2.87 diluted EPS from -$6.4 million or -$0.05, as impairments and losses cascaded through the P&L. Cash generation suffered accordingly, with net cash from operating activities at -$113.6 million versus -$64.5 million prior year, yielding free cash flow of -$127.4 million after $13.8 million in capital expenditures—down from $25.5 million. This acceleration in cash burn ties directly to the net loss and working capital shifts amid volume declines.