Self-care products company Perrigo Co. PLC reported a second-quarter loss and logged more than $150 million in impairment charges.
The company’s net loss was $57.7 million, compared with earnings of $60.6 million a year earlier. The loss was 43 cents a share, compared with earnings of 44 cents a share a year earlier, the company said.
Adjusted earnings were 50 cents a share, the company said. According to FactSet, analysts were expecting adjusted earnings of 60 cents a share.
The Dublin-based company recorded $158.6 million in impairment charges.
Net sales were $981.1 million, up from $948.8 million, it said. Analysts were expecting $1.02 billion.
For its fiscal-year outlook from continuing operations, Perrigo said it still expects organic net sales to grow by 3%. The company said it now expects adjusted earnings to be at the lower end of the range between $2.50 and $2.70 a share.