P&G (PG) Continues Strong Worldwide Volume Growth But Guidance Looks Soft
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Price: $157.29 --0%
Revenue Growth %: +0.5%
Financial Fact:
Cost of products sold: 8.1B
Today's EPS Names:
MAXN, CSTR, ACU, More
Revenue Growth %: +0.5%
Financial Fact:
Cost of products sold: 8.1B
Today's EPS Names:
MAXN, CSTR, ACU, More
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Shares of Procter & Gamble (NYSE: PG) are down nearly a percent Thursday following mostly inline third-quarter results but fourth-quarter guidance which came in at the low-end of Street guidance.
Net income for the quarter rose 11 percent from $2.59 billion in the third quarter of last year to $2.87 billion. Diluted earnings were 96 cents per share, up 16 percent from the 83 cents reported during the same quarter in 2010.
Net sales rose 5 percent to $20.2 billion, driven by solid volume growth.
Analysts on the Street had been expecting quarterly EPS of 97 cents on sales of $20.29 billion.
Procter & Gamble highlighted volume growth of 5 percent across each of its six business units. Volume grew in 16 of 17 of its top countries and in 20 out of 24 of its billion-dollar brands. P&G saw market share gains in all of its geographic regions; market share was flat or higher in 14 out of 17 top countries.
Sales rose 8 percent within the company's Grooming segment, 6 percent in Health Care, and 7 percent in Snacks and Pet Care.
The company is looking to report fourth-quarter earnings of 80-85 cents per share and FY11 core earnings of $3.91-$3.96 per share. The Street is currently expecting P&G to post a profit of 85 cents per share next quarter and $3.96 for the full year.
"The growth fundamentals of our business are strong," said Chairman of the Board, President and Chief Executive Officer Bob McDonald. "We delivered broad-based volume, sales, and market share growth, and grew EPS in a very difficult operating environment. We increased our dividend for the 55th consecutive year, by 9 percent. We continue to advance our Purpose-inspired growth strategy of improving the lives of more consumers, in more parts of the world, more completely."
Net income for the quarter rose 11 percent from $2.59 billion in the third quarter of last year to $2.87 billion. Diluted earnings were 96 cents per share, up 16 percent from the 83 cents reported during the same quarter in 2010.
Net sales rose 5 percent to $20.2 billion, driven by solid volume growth.
Analysts on the Street had been expecting quarterly EPS of 97 cents on sales of $20.29 billion.
Procter & Gamble highlighted volume growth of 5 percent across each of its six business units. Volume grew in 16 of 17 of its top countries and in 20 out of 24 of its billion-dollar brands. P&G saw market share gains in all of its geographic regions; market share was flat or higher in 14 out of 17 top countries.
Sales rose 8 percent within the company's Grooming segment, 6 percent in Health Care, and 7 percent in Snacks and Pet Care.
The company is looking to report fourth-quarter earnings of 80-85 cents per share and FY11 core earnings of $3.91-$3.96 per share. The Street is currently expecting P&G to post a profit of 85 cents per share next quarter and $3.96 for the full year.
"The growth fundamentals of our business are strong," said Chairman of the Board, President and Chief Executive Officer Bob McDonald. "We delivered broad-based volume, sales, and market share growth, and grew EPS in a very difficult operating environment. We increased our dividend for the 55th consecutive year, by 9 percent. We continue to advance our Purpose-inspired growth strategy of improving the lives of more consumers, in more parts of the world, more completely."
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