Perrigo due to report fourth quarter results
Global healthcare firm Perrigo, which has experienced somewhat volatile earnings recently, is due to report fourth quarter results on Thursday.
Analysts are forecasting earnings per share of $1.55 for the quarter. The company reported earnings per share of $1.57 for the same quarter last year. Perrigo last reported quarterly earnings on May 7th, posting $1.31 earnings per share for the quarter, missing the analysts’ consensus estimate by $0.20.
The company had revenue of $1 billion for the quarter, below the consensus estimate of $1.07 billion. During the same quarter last year, it posted $1.42 earnings per share. On average, analysts predict Perrigo will post $6.19 earnings per share for the fiscal year.
Last month it was reported that Dublin-based Perrigo may join Swiss-based Actelion and UK-based medical device company Smith and Nephew as acquisition targets for US healthcare companies racing to find tax relief abroad before the US government curbs the option. Bloomberg said deals for these companies would be smaller than AbbVie’s $54.8 billion Shire purchase, with Perrigo’s $20 billion market value the next largest among the companies.
AbbVie’s announcement of the latest so-called tax inversion on July 18th may have upped the ante for the remaining US health firms to make a move before US lawmakers limit the deals. Perrigo bought Irish pharma firm Elan for €6.27 billion last year, citing Ireland’s low-tax environment as a factor in the deal.