Perrigo Company plc Form 8-K Summary
Business Context and Reporting Period
Perrigo Company plc, incorporated in Ireland, filed this Current Report on Form 8-K on August 9, 2018. The filing announces the release of earnings results for the second quarter ended June 30, 2018. The detailed financial data is contained in the attached press release (Exhibit 99.1), which is not included in the text of this filing.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It references the existence of both GAAP and non-GAAP financial measures but does not list the actual figures.
Material Changes and Adjustments
The Company utilizes non-GAAP measures to exclude items affecting comparability. The filing lists the following adjustments applied to the reported results:
- Three Months Ended June 30, 2018: Amortization of acquired intangibles, changes in financial assets, losses on investment securities, acquisition-related charges, impairment charges, restructuring charges, foreign currency translation, and tax adjustments.
- Three Months Ended July 1, 2017: Amortization, changes in financial assets, acquisition charges, impairment charges, gain on divestitures, unusual litigation, losses on hedges and early debt extinguishment, restructuring charges, and sales from exited businesses (Belgium distribution, Russia, API).
Guidance, Outlook, and Management Commentary
Management provided 2018 Full Year Guidance adjustments, which exclude amortization, restructuring, changes in financial assets, investment losses, acquisition charges, divestiture gains, impairments, and tax effects of non-GAAP adjustments. Management states these measures are used for planning, forecasting, and evaluating segment performance, and are factors in compensation determination. The filing emphasizes that non-GAAP measures facilitate peer comparison and trend analysis.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific Q2 2018 revenue, net income, and EPS figures.
- Verify the reconciliation between GAAP and non-GAAP results to understand the magnitude of excluded items.
- Confirm the specific numerical targets for the 2018 Full Year Guidance mentioned in the press release.
- Assess the impact of foreign currency translation and exited businesses on year-over-year growth comparisons.