Procter & Gamble Co. (NYSE: PG | PG Price Prediction) reported its fiscal first-quarter financial results before the markets opened on Thursday. The company said that it had $1.63 in earnings per share (EPS) and $19.3 billion in revenue, while consensus estimates were just $1.41 in EPS and revenue of $18.35 billion. The same period of last year reportedly had EPS of $1.37 on $17.8 billion in revenue.
During the latest quarter, net sales increased 9% year over year. Excluding the impacts of foreign exchange, acquisitions and divestitures, organic sales also increased 9%, driven by a 7% increase in organic shipment volume
In terms of its segments, the company reported as follows:
- Beauty net sales increased 7% year over year to $3.79 billion.
- Grooming net sales increased by 5% to $1.60 billion.
- Health Care net sales increased by 11% to $2.47 billion.
- Fabric & Home Care increased by 14% to $6.64 billion.
- Baby, Feminine & Family Care increased 3% to $4.72 billion.
On the books, Procter & Gamble’s cash and cash equivalents totaled $13.39 billion, down from $16.18 billion at the end of the previous fiscal year.
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Looking ahead to the 2021 fiscal full year, the company said that it expects to see core EPS growth in the range of 4% to 9% and all-in sales growth of 3% to 4%. Consensus estimates are calling for $5.40 in EPS and $72.93 billion in revenue for the full year.
Procter & Gamble stock traded up 1.5% early Tuesday to $144.20, in a 52-week range of $94.34 to $145.87. The consensus price target is $141.69.
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