Perrigo PLC’s share in pre-conference trading fell by 4%, as the personal care products company made losses for the first quarter, which were higher than expected.
The Irish company posted a loss of $ 2.4 million, or 2 cents a share, after gaining $ 38.1 million, or 28 cents a share, a year ago.
Adjusted earnings per share stood at 33 cents, lower than estimates for 42 cents.
Sales rose to $ 1.075 billion from $ 1.010 billion a year ago and were marginally higher than estimated at $ 1.057 billion.
The company has upgraded estimates and expects sales to increase 8.5% -9.5% compared to a previous estimate of 3.5% -4.5%.
It still expects adjusted earnings per share to reach $ 2.30-2.40, higher than previous estimates for $ 2.10-2.30.
Source: Capital
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