Perrigo Company Plc · NYSE:PRGO
Perrigo — Q2 2026 Earnings Presentation
31 slides from Perrigo's earnings presentation, Aug 5, 2026
Slide 1: Q2 2026 Earnings Presentation
Q2 2026 Earnings Presentation Au g u s t 5 , 2 0 2 6
Slide 2: Eric Jacobson, VP Global Investor Relations
Eric Jacobson VP Global Investor Relations 2
Slide 3: Forward-Looking Statements
Forward-Looking Statements Certain statements in this presentation 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 finan
Slide 4: Agenda
Agenda Eric Jacobson • Introduction Albert Manzone • Leadership Transition & Priorities • Three-S Plan • Market Overview & Q2’26 Performance • Key Priorities Eduardo Bezerra • Financial Review • FY2026 Outlook All • Q&A
Slide 5: Albert Manzone, Interim President and CEO
Albert Manzone Interim President and CEO 5
Slide 6: Key Messages
Key Messages • Three-S plan driving increased focus and improved business fundamentals • Streamlined portfolio through Dermacosmetics divestiture • Gained market share in U.S. store-brand OTC and key European brands • Categories improving sequentially • Reaffirmed 2026 guidance with sequentially str
Slide 7: Three-S Plan is Enhancing Execution
Three-S Plan is Enhancing Execution The foundation for how we intend to drive growth, improve profitability, and create shareholder value over time Stabilize Streamline Strengthen Simplifying the business to Delivering consistent execution Leverage platform to drive growth enhance focus and efficien
Slide 8: Category Growth Showing Sequential Improvement as Expected
Category Growth Showing Sequential Improvement as Expected Consumption headwinds moderating U.S. & European Consumption1,2,3 U.S. Europe OTC Market Growth OTC Market Growth 6.9% 3.9% 3.2% Sequential 3.7% 3.6% Sequential Improvement Improvement 0.8% 1.4% 0.9% 0.2% -0.4% -0.6% -1.1% -1.3% -1.1% -1.7%
Slide 9: Market Share Gains Demonstrate Benefits of Three-S Plan
Market Share Gains Demonstrate Benefits of Three-S Plan Perrigo continues to outperform relevant categories in both the U.S. and Europe U.S. OTC E.U. OTC Q2 20261 Latest Available 3-Months2 PRGO Value PRGO Value PRGO Volume PRGO Volume Key E.U. Brands Growth Share Category Growth Share Women’s Healt
Slide 10: Market Share Gains Supported by Multiple Growth Drivers
Market Share Gains Supported by Multiple Growth Drivers Innovation, demand generation, distribution gains, and commercial execution are translating into measurable results • Strong repeat rates and growing consumer loyalty Value Share1 +30 bps • Increasing velocities and trade up to larger packs • N
Slide 11: Q2'26 Financial Results
Q2’26 Financial Results Net Sales Adj. EPS2 Core YoY Change -3.1% YoY Change -20.7% • Net Sales: Category softness and retailer $0.58 $936 $907 inventory destocking. $0.46 • Adj. EPS: Volume, mix, and manufacturing Core1 headwinds, partly offset by Operational Enhancement Program savings and operati
Slide 12: Transition Year – 2026 Remains on Track
Transition Year – 2026 Remains on Track 2026 Assumptions H1’26 Status • H1 market performance roughly in line with expectation Soft H1 OTC consumption, transitioning to growth in H2 • Seeing sequential quarterly improvement as expected Continued market share gains • Increased share in U.S. OTC and k
Slide 13: Key Priorities
Key Priorities • Sustain market share gains and grow category by expanding access to quality, affordable self- care products • Further simplify and strengthen our portfolio to sharpen focus, discipline, and consistency • Strengthen balance sheet and enhance financial flexibility • Deliver our 2026 c
Slide 14: Eduardo Bezerra, Chief Financial Officer
Eduardo Bezerra Chief Financial Officer 14
Slide 15: Q2 Segment Net Sales Overview
Q2 Segment Net Sales Overview Core Net Sales1,2 All In Net Sales YoY Change -3.2% YoY Change -3.1% $1,056M $19M $1,023M $936M -$22M -$6M -$24M $907M -$20M -$6M -$3M Q2'25 Core Self Specialty All Q2'26 Core Q2'25 All In Self Specialty Infant All Q2'26 All In Net Sales Care Care Other Net Sales Net Sa
Slide 16: Q2 Segment Adj. Operating Income Overview
Q2 Segment Adj. Operating Income Overview Core Adj. Operating Income1 All In Adj. Operating Income YoY Change -13.9% YoY Change -7.9% $137M $135M $7M $118M $16M $0M $7M $125M -$14M $7M -$15M -$18M -$18M Q2'25 Core Self Specialty All Corporate Q2'26 Core Q2'25 All In Self Specialty Infant All Corpora
Slide 17: Consolidated Adj. Gross & Operating Margins
Consolidated Adj. Gross & Operating Margins Adj. Gross Margin Adj. Operating Margin Core YoY Change -250bps YoY Change -160bps • Adj. gross margin impacted by lower volumes, unfavorable mix, and planned under 39.5% 37.0% 14.6% absorption stemming from lower prior-year 13.0% sales volumes. Core1 • Ad
Slide 18: Consolidated Adj. EPS
Consolidated Adj. EPS Adj. EPS YoY Change -20.7% Core $0.58 $0.46 • Adj. EPS exceeded expectations, supported by lower operating expenses Core1 and continued benefits from the Operational Enhancement Program. Q2'25 Q2'26 Core Core YoY Change -12.3% All In $0.57 $0.50 • Adj. diluted EPS reflected low
Slide 19: Balance Sheet & Cash Flow
Balance Sheet & Cash Flow Q2 Cash Flow & Uses Capital Allocation Cash on balance sheet of $400M Priorities • Sustainable business growth, reducing Operating cash flow of $83M in line with total debt and net leverage, and outlook maintaining a disciplined and balanced capital allocation framework Use
Slide 20: FY2026 Outlook Reaffirmed
FY2026 Outlook Reaffirmed FY2025 CORE FY2026 CORE Perrigo Drivers of FY2026 CORE Outlook vs. FY2026 All In Metric Perrigo Actuals Outlook FY2025 CORE Actuals Perrigo Outlook Reported Net Sales $3,754M -3.0% to +1.0% YoY -5.5% to -1.5% YoY • Grow share ahead of the market driven by consumer-centric i
Slide 21: On Track to Deliver FY'26 Net Sales Growth Outlook
On Track to Deliver FY’26 Net Sales Growth Outlook H2’26 growth expectations driven by growth building blocks and continued category normalization Sequential Bridge: H1 2026 Net Sales to Implied1 H2 2026 Net Sales 2H’26 Net Sales Drivers: • Growth building blocks (innovation, distribution gains and
Slide 22: FY'26 Adj. EPS Outlook
FY’26 Adj. EPS Outlook 2026 Adj. EPS H1 vs Implied1 H2 2H’26 Adj. EPS Drivers: • Improved net sales driven by growth building blocks and more normalized Approx. category trends $1.40 - $1.70 • Moderation of planned under Approx. $1.10 - $1.40 absorption stemming from lower prior- year sales volumes
Slide 23: Thank you
Thank you 23 23
Slide 24: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures New Operating Model Enhances Scale 24
Slide 25: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures New Operating Model Enhances Scale 25
Slide 26: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures New Operating Model Enhances Scale 26
Slide 27: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures New Operating Model Enhances Scale 27
Slide 28: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures New Operating Model Enhances Scale 28
Slide 29: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures New Operating Model Enhances Scale 29
Slide 30: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures 30
Slide 31: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures New Operating Model Enhances Scale 31