PRGO - Perrigo stock surges despite Q3 skipping beat

Perrigo ([[PRGO]] +7.4%) Q3 consolidated net sales were $1.2B, an increase of 1.3% vs. previous year, misses consensus by $30M.Q4 EPS estimate of $1.03 and revenue estimate of $1.35B.Worldwide consumer Q3 net sales grew 3.6% compared to the prior year. Organic net sales grew 1.6%.Consumer Self-Care Americas or CSCA achieved record net sales of $664M, up 7.3% versus the prior year. Organic net sales grew 4.0% as consumer demand in the U.S. remained strong.Consumer Self-Care International or CSCI net sales of $339M, down 2.9% Y/Y, due primarily to European consumer dynamics surrounding COVID-19.Diluted EPS of $1.13, due primarily to a $202M impairment of goodwill in the RX segment.Adjusted diluted EPS decreased 10.6% to $0.93, includes RX albuterol recall.Company plans to repurchase $150M of stock by the end of 2020.FY 2020 guidance: Net sales growth of 6% to 7% with organic net sales growth of at least 3%. Adjusted diluted EPS of $3.95-$4.15 vs consensus of

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Perrigo stock surges despite Q3 skipping beat