Perrigo Company Plc · NYSE:PRGO
Perrigo — Q2 2025 Earnings Presentation
30 slides from Perrigo's earnings presentation, Aug 6, 2025
Slide 1: Q2 2025 Earnings Presentation
Q2 2025 Earnings Presentation August 6, 2025
Slide 2: Bradley Joseph, VP Investor Relations & Corporate Communications
Bradley Joseph VP Investor Relations & Corporate Communications
Slide 3: Forward-Looking Statements
Forward-Looking Statements Certain statements in this report are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and are subject to the safe harbor created thereby. These statements relate to future events or our future financial p
Slide 4: Patrick Lockwood-Taylor, President and CEO
Patrick Lockwood-Taylor President and CEO
Slide 5: Advancing Our 'Three-S Plan' – Q2'25 Highlights
Advancing Our ‘Three-S Plan’ – Q2’25 Highlights • Q2’25 infant formula net sales +9% YoY Stabilize • New business awards overcoming known net lost distribution of lower margin products • U.S. Store Brand unit and volume share growth YoY • Project Energize and Supply Chain Reinvention programs contin
Slide 6: Diversified Portfolio Providing Resilience and Stability in a Challenging Consumer Environment
Diversified Portfolio Providing Resilience and Stability in a Challenging Consumer Environment Perrigo Financial Highlights Q2’25 YoY Highlights Q2’25 YTD Q2’25 Organic Organic Change Change Change • Flat organic net sales growth Q2’25 YoY YoY YoY • Perrigo OTC brands +3.6% Net Sales $1,056 -0.9% -0
Slide 7: OTC Brand Growth and Infant Formula Recovery, Offset By Digestive Health and Oral Care
OTC Brand Growth and Infant Formula Recovery, Offset By Digestive Health and Oral Care Category Contribution to Total Perrigo OTC Brand Organic Net Sales +3.6% YoY Organic Net Sales Growth Pain and Sleep-Aids 1.0% +14% Nutrition 0.9% Upper Respiratory 0.7% Healthy Lifestyle 0.6% +11% Women's Health
Slide 8: Stabilize – Infant Formula Industry Dynamics Continue to Evolve
Stabilize – Infant Formula Industry Dynamics Continue to Evolve Infant Formula Store Brand Volume Expected Drivers of H2’25 Performance Market Share1 Store Brand Acceleration • Q2’25 infant formula net sales • Targeted promotional activity both growth +9% vs. prior year in-store and online 17.8% 16.
Slide 9: Stabilize – New Business Wins & Demand Generation Activities Led to Store Brand Share Gains
Stabilize – New Business Wins & Demand Generation Activities Led to Perrigo Store Brand Share Gains New Business Wins Now Store Brand Demand Leading to Perrigo OTC Outpacing Losses Generation Driving Results Store Brand1 Gains • Store Brand new business • Targeted demand activation in the allergy ca
Slide 10: Streamline – Continuing Benefits from Accretive Initiatives; Dermacosmetics Divestiture
Streamline – Continuing Benefits from Accretive Initiatives; Dermacosmetics Divestiture Sharpens Strategic Focus • Project Energize annual run rate gross savings of $159M • Supply Chain Reinvention total benefits expected between $150-$200M by end of 2025 • Announced sale of Dermacosmetics business
Slide 11: Strengthen – Category-Led, Market Activation
Opill® Repeat Rate at ~55% Strengthen – NiQuitin® Enhanced Claims to Quit + Reduce Smoking, Unlocking Expansion Category-Led, Market Activation Growth Model Market Share Gains of +2.9pts Delivering Results Broncho® 8in1 Launch Outperforming Market by 30pts in Spain Local Market Activation Driving #1
Slide 12: Key Takeaways
Key Takeaways Continuing to execute with discipline and focus in a challenging consumer environment Advancing ‘Three-S’ Plan to Stabilize, Streamline, and Strengthen One Perrigo Reaffirming FY 2025 financial outlook 12
Slide 13: Eduardo Bezerra, EVP, Chief Financial Officer
Eduardo Bezerra EVP, Chief Financial Officer
Slide 14: Q2'25 Non-GAAP Adjustments
Q2’25 Non-GAAP Adjustments1 1. See attached Appendix for footnotes. 14
Slide 15: Q2 & YTD Adj. EPS +7.5% and 41.0%, Respectively
Q2 & YTD Adj. EPS +7.5% and 41.0%, Respectively Perrigo Q2’25 and YTD’25 Financial Highlights Q2 $ Change % Change Organic % YTD % YTD Organic ($ in millions, except margin) 2025 YoY YoY Change Change YoY % Change YoY Drivers Net Sales $1,056 ($9) (0.9%) (0.1%) (2.2%) (0.3%) Adj. Gross Profit $403 (
Slide 16: Net Sales YoY – Segment Highlights
Net Sales YoY – Segment Highlights CSCI Q2’25 CSCA Q2’25 Net Sales YoY Net Sales YoY Organic Growth +2.7% YoY Change +0.7% YoY Growth $434M -1.9% $431M $634M $622M Q2'24 CSCI Business Currency Divested Business Q2'25 CSCI Q2'24 CSCA Digestive Health Rest of Q2'25 CSCA Net Sales Performance Translati
Slide 17: Adj. Operating Income YoY
Adj. Operating Income YoY Flat Organic Growth YoY Growth -2.9% $139M Perrigo $135M Q2’25 Adj. Operating Income Q2'24 Adj. Business Isolated Infant Lower Plant Currency Divested Businesses Q2'25 Adj. Operating Income Performance Formula Scrap Overhead Translation & Exited Products Operating Income Ab
Slide 18: Adj. EPS YoY
Adj. EPS YoY YoY Growth Organic Growth +12.5% +7.5% $0.53 $0.57 Perrigo Q2’25 Adj. EPS Q2'24 Business Lower Interest Currency Translation, Q2'25 Adj. EPS Performance Expense Divested Businesses Adj. EPS & Exited Products YoY Growth Organic Growth +53.3% +41.0% $1.17 Perrigo YTD $0.83 Q2’25 Adj. EPS
Slide 19: Balance Sheet, Cash Flow & Announced Sale of Dermacosmetics Business
Balance Sheet, Cash Flow & Announced Sale of Dermacosmetics Business Balance Sheet & Cash Flow Announced Sale of Dermacosmetics • Q2’YTD Operating cash flow of $11M • Up to €327M, including €300M upfront and €27M in potential milestones • Q1’25 Operating cash outflow of -$65M • Q2’25 Operating cash
Slide 20: Reaffirming FY'25 Targets
FY 2025 Targets FY 2025 Targets Metric as of 8/6/25 as of 5/7/25 (constant currency to FY’24) (constant currency to FY’24) Reaffirming Reported Net Sales Growth 0% - 3% 0% - 3% FY’25 Targets; Organic Net Sales Growth 1.5% - 4.5% 1.5% - 4.5% Reported and Adj. Gross Margin ~40% ~40% Organic Net Sales
Slide 21: Thank You
HEAD LICE & EGGS TREATMENT Triple-Action Formul > Protect from harmful UVA > Retain moisture > Production of collagen. | CREAM TUBE ms NETWT.0.7 02 (20g)
Slide 22: Appendix
a; — Perrigo nicotine gum| | ve Appendix iC Intensive Overnight Scar Cream clearlax "@Proxen film-coa 3d tablet. Ulipristal acetate “Taxe one tablet as soon as possible se? raceptive failure Unprotected sex or con
Slide 23: Table I
TABLE! PERRIGO COMPANY PLC RECONCILIATION OF NON-GAAP MEASURES. ‘SELECTED CONSOLIDATED INFORMATION {in millions, except per share amounts) (unaudited) Three Months Ended June 28, 2025 Three Months Ended June 29, 2024 Income (Loss) Dil Income (Loss) Diluted ‘rom Earnings ‘rom Eamings Consolidated Con
Slide 24: Table I (Continued)
TABLE | (Continued) PERRIGO COMPANY PLC RECONCILIATION OF NON-GAAP MEASURES ‘SELECTED CONSOLIDATED INFORMATION (in millions, except per share amounts) (unaudited) ‘Six Months Ended June 28, 2025 ‘Six Months Ended June 29, 2024 Income (Loss) Diluted Earnings: Income (Loss) Diluted Earnings Gross Oper
Slide 25: Table II
TABLE II PERRIGO COMPANY PLC RECONCILIATION OF NON-GAAP MEASURES SELECTED CONSOLIDATED INFORMATION (in millions) (unaudited) ‘Three Months Ended June 28, 2025 Three Months Ended June 29, 2024 Income Tax Expense Consolidated Continuing Operations Interest and Other __ Income Tax Expense Interest and
Slide 26: Table II (Continued)
TABLE II (Continued) PERRIGO COMPANY PLC RECONCILIATION OF NON-GAAP MEASURES SELECTED CONSOLIDATED INFORMATION (in millions) (unaudited) Six Months Ended June 28, 2025 Six Months Ended June 29, 2024 Income Tax Expense Consolidated Continuing Operations Interest and Other _ Income Tax Expense Interes
Slide 27: Table I
TABLE I PERRIGO COMPANY PLC RECONCILIATION OF NON-GAAP MEASURES CONSOLIDATED AND SELECTED SEGMENT INFORMATION millions, except per share amounts) (unaudited) Consolidated Continuing Operations Net Sales Less: Currency impact") Constant currency net sales Less: Divestitures Organic net sales ‘Consume
Slide 28: Table IV
TABLE IV PERRIGO COMPANY PLC RECONCILIATION OF NON-GAAP MEASURES SELECTED CONSOLIDATED INFORMATION (in millions, except per share amounts) (unaudited) Consolidated Continuing Operations ‘Three Months Ended Less: Gonstant Contribution to Net Sales june 26,2025 June 29,2024 %Change Impact’ Change) ‘im
Slide 29: Table V
TABLE V PERRIGO COMPANY PLC RECONCILIATION OF NON-GAAP MEASURES CONSOLIDATED AND SELECTED SEGMENT INFORMATION (in millions, except per share amounts) (unaudited) Three Months Ended Months Ended June 28, June 29, June 28, June 29, 2025 2024 Total Change 2025 2024 Total Change Consolidated Continuing
Slide 30: Table VI
TABLE VI PERRIGO COMPANY PLC RECONCILIATION OF NON-GAAP MEASURES SELECTED CONSOLIDATED INFORMATION (in millions) (unaudited) Trailing Twelve Months Ended June 28, 2025 Reported income (loss) from continuing operations $ 69.4) Income tax benefit 1629 Interest expense, net 179.3 Depreciation and amort