Well, That Was Easy! P&G (PG) Beats Eased Q4 Expectations Amid Beauty & Grooming Sales Stall
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Price: $77.61 -1.81%
EPS Growth %: +5.3%
Financial Fact:
Earnings from discontinued operations: 0
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CEDU, CHC, CIDM, More
EPS Growth %: +5.3%
Financial Fact:
Earnings from discontinued operations: 0
Today's EPS Names:
CEDU, CHC, CIDM, More
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Procter & Gamble Company (NYSE: PG) shares are indicated slightly higher in early trading Friday, following its earnings report for fourth-quarter 2012.
The conglomerate reported mixed results on the back of lowered expectations issued in June. With that announcement, P&G announced a cost-savings plan as well as initiatives to focus resources on its "biggest, most profitable markets." The company lowered its outlook, calling for organic top-line growth of two to three percent (from four to five percent earlier) and core earnings of 75 cents to 79 cents , from 79 to 85 prior.
Revenue dipped one percent to $20.21 billion, from $20.45 billion in the same period last year. The Street was looking for sales of $20.26 billion.
Organic sales growth came in at the top-end of expectations at three percent.
Net earnings rose 45 percent to $3.63 billion, or $0.74 per share on a diluted, continuing basis. Core earnings beat internal views at 82 cents per share, also edging out Street expectations of 77 cents per share.
P&G's Grooming segment revs fell six percent to $2.01 billion, while Beauty Care revs slipped four percent to $4.81 billion. The only top-line growth segment P&G reported was Baby and Family Care, with revs rising one percent to $4.10 billion.
"We enter fiscal 2013 with very strong developing market momentum, strengthened plans on our core developed market business," commented CEO Bob McDonald. "Despite a difficult macro environment, we see significant opportunities for top- and bottom-line growth."
P&G reaffirmed growth expectations for fiscal 2013, seeing two to four percent of organic sales growth with core earnings of $3.80 to $4.00 per share.
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The conglomerate reported mixed results on the back of lowered expectations issued in June. With that announcement, P&G announced a cost-savings plan as well as initiatives to focus resources on its "biggest, most profitable markets." The company lowered its outlook, calling for organic top-line growth of two to three percent (from four to five percent earlier) and core earnings of 75 cents to 79 cents , from 79 to 85 prior.
Revenue dipped one percent to $20.21 billion, from $20.45 billion in the same period last year. The Street was looking for sales of $20.26 billion.
Organic sales growth came in at the top-end of expectations at three percent.
Net earnings rose 45 percent to $3.63 billion, or $0.74 per share on a diluted, continuing basis. Core earnings beat internal views at 82 cents per share, also edging out Street expectations of 77 cents per share.
P&G's Grooming segment revs fell six percent to $2.01 billion, while Beauty Care revs slipped four percent to $4.81 billion. The only top-line growth segment P&G reported was Baby and Family Care, with revs rising one percent to $4.10 billion.
"We enter fiscal 2013 with very strong developing market momentum, strengthened plans on our core developed market business," commented CEO Bob McDonald. "Despite a difficult macro environment, we see significant opportunities for top- and bottom-line growth."
P&G reaffirmed growth expectations for fiscal 2013, seeing two to four percent of organic sales growth with core earnings of $3.80 to $4.00 per share.
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