Procter & Gamble (PG) Gains on Solid Q2 Results, Highlighted by Accelerating Core Sales Growth
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Go back to Procter & Gamble (PG) Gains on Solid Q2 Results, Highlighted by Accelerating Core Sales Growth
January 26, 2016 7:10 AM EST
By Yashaswini Swamynathan
(Reuters) - Procter & Gamble Co's (NYSE: PG) new chief executive is off to a "nice start" as the company's core sales returned to growth in the second quarter, helped by price hikes and as it shed underperforming brands.
Organic sales - core sales that exclude the impact of currency, divestitures and acquisitions - rose 2 percent in the quarter.
These sales had dropped 1 percent in the previous quarter, marking its first decline since 2008.
P&G has been raising prices more rapidly to offset the stronger dollar's... More
January 26, 2016 7:04 AM EST
Procter & Gamble (NYSE: PG) reported Q2 EPS of $1.04, $0.06 better than the analyst estimate of $0.98. Revenue for the quarter came in at $16.9 billion versus the consensus estimate of $16.94 billion.
Operating cash flow was $4.5 billion for the quarter. Adjusted free cash flow productivity was 117%. The Company repurchased $2.0 billion of common stock and returned $1.9 billion of cash to shareholders as dividends.
We are encouraged by our return to organic sales growth in the quarter, said President and Chief Executive Officer David Taylor. With the top-line improvement and continued cost reduction, we delivered... More
