UPDATE: Procter & Gamble (PG) Reports In-Line Q3 EPS, Raises Core EPS Guidance
Procter & Gamble (NYSE: PG) reported Q3 EPS of $1.00, $0.00 better than the analyst estimate of $1.00. Revenue for the quarter came in at $16.3 billion versus the consensus estimate of $16.23 billion.
Fiscal Year 2018 Guidance
P&G said it is maintaining its guidance for organic sales growth in the range of two to three percent for fiscal 2018 and expects to be at the low end of this range. The Company estimates all-in sales growth of approximately three percent for fiscal 2018, which includes a net benefit from the combination of acquisitions and divestitures and foreign exchange.
The Company is raising its fiscal year 2018 guidance for Core EPS growth from a range of five to eight percent to a range of six to eight percent versus fiscal 2017 Core EPS of $3.92. P&G said GAAP earnings per share are expected to decrease 31% to 33% versus fiscal year 2017 GAAP EPS of $5.59, which included the significant benefit from the Beauty Brands transaction that was completed in October 2016. The fiscal 2018 GAAP EPS estimate includes approximately $0.14 per share of non-core restructuring costs and $0.25 per share of non-core charges related to the Tax Act.
P&G also raised its outlook for adjusted free cash flow productivity from 90 percent to approximately 95 percent for the fiscal year.
For earnings history and earnings-related data on Procter & Gamble (PG) click here.