Mallinckrodt plc reported Q1 2026 revenue of $468.3 million with a gross profit of $186.6 million, delivering a gross margin of 39.85%. Despite topline activity, the quarter produced an operating loss of $113.5 million and a net loss of $113.5 million, with an EPS of -$2.87. The sequential performance shows a sizable QoQ revenue uptick (~11.5%), but profitability remains under pressure due to a high cost base and interest expense, leaving little room for margin expansion in the near term. The trailing four-quarter view highlights volatility in profitability, including a pronounced one-off strength in 2024 Q4 that did not persist into 2025–2026, underscoring execution risk and the sensitivity of the business to fixed costs and financing expenses.
Key Performance Indicators
Revenue
Decreasing
468.30M
QoQ: 11.53% | YoY: -8.94%
Gross Profit
Decreasing
186.60M
39.85% margin
QoQ: -8.03% | YoY: -4.31%
Operating Income
Decreasing
-113.50M
QoQ: -856.67% | YoY: -514.23%
Net Income
Decreasing
-113.50M
QoQ: -309.75% | YoY: -162.12%
EPS
Decreasing
-2.87
QoQ: -103.55% | YoY: -30.45%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue: $468.3m; YoY: -8.9%, QoQ: +11.5% (per provided metrics); Gross Profit: $186.6m; Gross Margin: 39.85%; Operating Income: -$113.5m; Operating Margin: -24.24%; EBITDA: -$113.5m; EBITDARatio: -0.24; Net Income: -$113.5m; Net Margin: -24.24%; EPS: -$2.87; Interest Expense: -$51.0m; SG&A: $210.6m; R&D: $23.2m; Cost and Expenses: $515.5m; Shares Outstanding (avg): 39.6m; Weighted Avg Diluted: 39.6m; Revenue per quarter data and trailing four-quarter context provide a picture of a business with revenue growth potential but persistent profitability challenges.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
468.30M
-8.94%
11.53%
Gross Profit
186.60M
-4.31%
-8.03%
Operating Income
-113.50M
-514.23%
-856.67%
Net Income
-113.50M
-162.12%
-309.75%
EPS
-2.87
-30.45%
-103.55%
Key Financial Ratios
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