Perrigo Company PLC (PRGO) saw its shares surge 5.07% during pre-market trading on Wednesday, following the release of its first-quarter 2026 financial results.

The pharmaceutical company reported adjusted earnings per share of $0.43 for the quarter, significantly surpassing the analyst consensus estimate of $0.31. This represents a 38.71% earnings beat, though it marks a decrease from the $0.60 per share reported in the same period last year. Quarterly sales came in at $939 million, which fell short of the $1.031 billion estimate.

Despite the sales miss, investors reacted positively to the earnings outperformance and the company's reaffirmation of its full-year 2026 adjusted EPS guidance range of $2.00 to $2.30, which aligns with analyst expectations. Management also expressed expectations for stabilization in retailer inventory levels as consumer trends improve, providing additional optimism for the company's future performance.