Keith DeVos's questions to Perrigo Company PLC (PRGO) leadership • Q2 2025
Question
Keith DeVos of Jefferies inquired about the infant formula business, asking for context on retailer feedback and competitor actions, and how the second-half recovery is expected to unfold. He also asked for confirmation on the building blocks for achieving the full-year EPS guidance despite a lower top-line forecast.
Answer
President & CEO Patrick Taylor described the infant formula market as "fluid" and "volatile" due to heavy promotions but affirmed confidence in their second-half ramp-up. EVP & CFO Eduardo Bezerra added that the second-half EPS target only requires a 3% year-over-year increase, which is supported by new OTC store brand contract wins and infant formula growth, giving the company confidence in its reaffirmed guidance.