Perrigo Company (PRGO) Canaccord Genuity 44th Annual Growth Conference & Private Company Showcase 2024 summary

Market positioning and business overview

• Operates in the $400B+ self-care market with high household penetration in the U.S. and Europe.

• Undergoing organizational transformation to focus on leadership, culture, and portfolio optimization.

• Emphasizing growth and value creation in U.S. store brands and asset efficiency.

Financial performance and outlook

• On track for strong second-half EPS, with first-half results meeting expectations.

• Gross margin expected to reach 40%, including infant formula, due to successful cost initiatives.

• Targeting a leverage ratio of 3-3.2x by end of next year.

U.S. business and private label trends

• Notable consumer trade down to private label, with recent volume and value share gains.

• Retailers increasingly request support to drive store brand household penetration.

• Store brand quality and breadth attract new retail partners.