Perrigo Company plc (NYSE:PRGO) Q1 2022 Earnings Conference Call May 11, 2022 8:30 AM ET

Company Participants

Bradley Joseph - Vice President of Investor Relations

Murray Kessler - President and Chief Executive Officer

Raymond Silcock - Chief Financial Officer

Conference Call Participants

Chris Schott - JPMorgan

Elliot Wilbur - Raymond James

Operator

Good day and welcome to the Perrigo First Quarter 2022 Financial Results Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Bradley Joseph, VP of Investor Relations. Please go ahead.

Bradley Joseph

Thank you. Good morning, and welcome to Perrigo's first quarter 2022 earnings conference call. I hope you all had a chance to review the earnings press release we issued this morning. A copy of the earnings release and presentation for today's discussion are available within the Investors section of the perrigo.com Web site. Joining today's call are President and CEO, Murray Kessler; and CFO, Ray Silcock.

I would like to remind everyone that, during this call, participants will make certain forward-looking statements. Please refer to the important information for shareholders and investors and safe harbor language regarding these statements in our press release, issued earlier this morning.

A few quick items before we start. First, unless otherwise stated, all financial results discussed and presented are on a continuing operations basis. They do not include any contributions from the divested Rx business which was accounted for as discontinued operations prior to its sale. In addition to other non-GAAP adjustments as described in the appendix, adjusted profit measures, including adjusted EPS and adjusted operating income exclude from the prior year period certain costs incurred to support the operations of the Rx business which were reported in continuing operations. See the appendix for additional details and reconciliations of all non-GAAP financial measures presented. Second, organic growth excludes acquisitions, divestitures and currency in both comparable periods. And third, Murray's discussion will focus solely on non-GAAP results.

And with that, I am pleased to turn the call over to Murray.

Murray Kessler

Thank you, Brad, and good morning, everyone. With our three-year transformation to a consumer self-care company now complete, Perrigo is moving into a new phase, which we're calling, optimizing and accelerating. The Perrigo team is hyper-focused on optimizing and accelerating our self-care platform through, one, supply chain reinvention to improve efficiency, productivity, and customer service. Two, successful integration of our scale HRA Pharma acquisition. And three, gross margin recovery via pricing and portfolio consolidation. I will also note that this will be accomplished as we also continually strengthen our organization and culture, and contribute to the world we live in by making our products and facilities more sustainable.