Procter & Gamble Earnings Beat Expectations, Organic Sales Up
October 19 2018 - 7:03AM
Dow Jones News
By Aisha Al-Muslim
Procter & Gamble Co. (PG) reported a profit on Friday for
its fiscal first quarter of $3.2 billion, or $1.22 a share, up from
$2.85 billion, or $1.06 a share, a year earlier. Core earnings were
$1.12 a share, beating the $1.09 a share analysts polled by
Refinitiv were expecting.
Net sales rose 0.2% to $16.69 billion from $16.65 billion, ahead
of the consensus forecast of $16.46 billion. P&G said organic
sales for the quarter rose 4%.
For fiscal 2019, P&G said it is maintaining its guidance for
organic sales growth in the range of 2% to 3%. The company now
estimates all-in sales growth in the range of down 2% to flat due
to foreign exchange headwinds, compared with the previous outlook
of flat to up 1%.
The company also maintained its expectation for core earnings
per share growth of 3% to 8% percent for fiscal 2019 versus $4.22
in fiscal 2018. The outlook includes an estimated $1.3 billion
headwind from foreign exchange and higher commodity costs.
Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com
(END) Dow Jones Newswires
October 19, 2018 07:48 ET (11:48 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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