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Perrigo (PRGO) guidance and outlook
Perrigo (PRGO) raised some and lowered other parts of its guidance on Nov 4, 2026: Revenue −5.7% to −4.6% for FY2026; Revenue +210 bps for FY2026; Gross margin 37.8%–38.8% for FY2026; Gross margin −30 bps for FY2026. Perrigo's 10-Q filed Nov 4, 2026 makes 24 forward-looking statements.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| Revenue | FY2026 | −5.7% to −4.6% | lowered |
| Revenue | FY2026 | +210 bps | lowered |
| Gross margin | FY2026 | 37.8%–38.8% | raised |
| Gross margin | FY2026 | −30 bps | lowered |
| Operating margin | FY2026 | 14.3%–15.3% | raised |
| Operating margin | FY2026 | −30 bps | lowered |
| EPS | FY2026 | $2.25–$2.45 | raised |
| Interest expense | FY2026 | $162M | raised |
| Tax rate | FY2026 | 14% | lowered |
| Net income | FY2026 | +60% | reaffirmed |
| Revenue | FY2026 | −5.5% to −1.5% | new |
| Gross margin | FY2026 | 36.5%–37.5% | new |
From the earnings release filed Nov 4, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Nov 4, 2026
- The Company’s plan to drive increased cash flow and total shareholder return is anchored in its ‘Three-S’ plan – ‘Stabilizing,’ ‘Streamlining,’ and ‘Strengthening’ our business.
- For the remaining project wind-down activities, we anticipate less than $10 million of additional costs to be incurred through fiscal year 2026.
- As part of our sustainable, value accretive growth strategy, we launched Project Energize in the first quarter of 2024 - a global investment and efficiency program to drive the next evolution of capabilities and organizational agility.
- This three-year program was expected to produce significant benefits in our long-term business performance by enabling our One Perrigo growth strategy, increasing organizational agility and mitigating impacts from stabilizing and strengthening the Infant Formula business.
- In 2025, we initiated the Nutrition Network Optimization (“NNO”) project to optimize our infant formula manufacturing footprint, upgrade packaging capabilities, harmonize quality processes, and enhance our research and development capabilities.
- At that time, we expected to make approximately $240 million of capital investments in our infant formula production network over a three-year period.
- As disclosed in our Quarterly Report on Form 10-Q for the period ended March 29, 2025, we deferred capital expenditures associated with the NNO project due to macroeconomic uncertainty.
- On November 5, 2025, we announced a strategic review of our Infant Formula business that included reassessing the previously announced NNO project and related investments.
- Through September 26, 2026, we have incurred approximately $3 million of engineering, planning and design costs associated with the NNO project.
- We expect to fund capital expenditures related to the business of approximately $21 million through March 2027, of which approximately $18 million is related to the NNO project.
- For further details on our restructuring charges related to the NNO project, refer to Item 1.
- We expect the program to enhance organizational effectiveness by evolving our structure to improve agility, accelerate decision‑making and better leverage technology.
Perrigo's latest quarter
Perrigo, Q3 2026: revenue $989M (-5% year over year), operating margin 2.3%, net loss $27.5M, operating cash flow $96.2M. The chart follows the revenue to costs, profit and cash.
Questions
Did Perrigo raise or lower its guidance?
Perrigo (PRGO) raised some and lowered other parts of its guidance on Nov 4, 2026: Revenue −5.7% to −4.6% for FY2026; Revenue +210 bps for FY2026; Gross margin 37.8%–38.8% for FY2026; Gross margin −30 bps for FY2026.
What does Perrigo expect?
The Company’s plan to drive increased cash flow and total shareholder return is anchored in its ‘Three-S’ plan – ‘Stabilizing,’ ‘Streamlining,’ and ‘Strengthening’ our business. For the remaining project wind-down activities, we anticipate less than $10 million of additional costs to be incurred through fiscal year 2026. As part of our sustainable, value accretive growth strategy, we launched Project Energize in the first quarter of 2024 - a global investment and efficiency program to drive the next evolution of capabilities and organizational agility.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.