Perrigo Company plc PRGO is scheduled to report third-quarter 2024 earnings on Nov. 6, before the opening bell. In the last reported quarter, the company posted an earnings surprise of 10.42%.
The Zacks Consensus Estimate for total revenues is pegged at around $1.12 billion, while that for earnings is pinned at 82 cents per share.
Factors Shaping PRGO’s Upcoming Results
Perrigo reports its results under two segments — Consumer Self Care Americas (CSCA) and Consumer Self Care International (CSCI).
We suppose third-quarter sales in both segments to have suffered a decline. Sales in CSCA and CSCI are likely to have been affected by lower net product sales in the United States and unfavorable currency movements, respectively.
The Zacks Consensus Estimate and our model estimate for CSCA sales are pegged at $693 million and $698 million, respectively. The Zacks Consensus Estimate and our model estimate for sales in the CSCI segment are pegged at $423 million and $417 million, respectively.
PRGO reported higher net price realization for its products through strategic price increases in recent quarters. The improving price trend is likely to have continued in the to-be-reported quarter.
We expect management to provide an update on the expected impact of macroeconomic pressures in the upcoming quarters.
PRGO’s Earnings Surprise History
Perrigo’s shares have lost 19.0% year to date against theindustry’s 13.1% growth.
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The company’s earnings performance has been decent over the trailing four quarters. Its earnings beat estimates in three of the last four quarters and missed the mark on one occasion, delivering an average surprise of 8.33%.
Perrigo Company plc Price and EPS Surprise
Perrigo Company plc price-eps-surprise | Perrigo Company plc Quote
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
What Our Model Predicts for PRGO
Our proven model does not predict an earnings beat for Perrigo this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not thecase here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Perrigo has an Earnings ESP of -2.14% as the Most Accurate Estimate of 80 cents per share is less than the Zacks Consensus Estimate of 82 cents.
Zacks Rank: Perrigo currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are a few biotech stocks worth considering as these have the right combination of elements to beat on earnings this reporting cycle.
Exact Sciences EXAS has an Earnings ESP of +39.50% and a Zacks Rank #1 at present.
Shares of EXAS have lost 5.7% year to date. Exact Sciences beat on earnings in three of the trailing four quarters and missed the mark on one occasion, delivering an average earnings surprise of 56.19%. EXAS will report third-quarter results on Nov 5, after market close.
Amicus Therapeutics FOLD has an Earnings ESP of +6.67% and a Zacks Rank #2 at present.
FOLD stock has lost 19.2% year to date. Amicus Therapeutics beat on earnings in three of the trailing four quarters and missed the mark in one, delivering an average surprise of 23.96%. FOLD is set to report third-quarter 2024 results on Nov. 6, before the opening bell.
CRISPR Therapeutics CRSP has an Earnings ESP of +100.00% and a Zacks Rank #2 at present.
Shares of CRSP have lost 18.9% in the year-to-date period. Earnings of CRISPR Therapeuticsbeat estimates in three of the trailing four quarters and missed the mark in one, delivering an average surprise of 101.83%.
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Free: See Our Top Stock And 4 Runners UpPerrigo Company plc (PRGO) : Free Stock Analysis Report
Amicus Therapeutics, Inc. (FOLD) : Free Stock Analysis Report
Exact Sciences Corporation (EXAS) : Free Stock Analysis Report
CRISPR Therapeutics AG (CRSP) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
