Companies and Brands
Is This the Turnaround Procter & Gamble Has Waited For?
Published:
Last Updated:
Procter & Gamble Co. (NYSE: PG) released its fiscal first-quarter financial results before the markets opened on Friday. The company said that it had $1.12 in earnings per share (EPS) and $16.69 billion in revenue, compared with Thomson Reuters consensus estimates of $1.09 in EPS and $16.46 billion in revenue. In the same period of last year, P&G said it had EPS of $1.09 on $16.65 billion in revenue.
Excluding the impacts of foreign exchange, acquisitions and divestitures, organic sales increased 4% in the most recent quarter. At the same time, operating cash flow was $3.6 billion and adjusted free cash flow productivity was 95%.
In terms of its segments, the company reported as follows:
- Beauty net sales increased 5% year over year to $3.29 billion.
- Grooming net sales decreased 1% to $1.56 billion.
- Health Care net sales decreased 3% to $1.85 billion.
- Fabric & Home Care net sales increased 2% to $5.49 billion.
- Baby, Feminine & Family Care net sales decreased 3% to $4.39 billion.
- Corporate net sales increased 7% to $116 million.
Looking ahead to the fiscal full year, the company expects to see EPS of $4.22, with organic sales growth of 2% to 3%. Consensus estimates from Thomson Reuters call for $4.37 in EPS and $66.5 billion in revenue for the year.
During the latest quarter, the company returned $3.1 billion of cash to shareholders via $1.9 billion of dividend payments and nearly $1.3 billion of common stock repurchases.
David Taylor, board chair, president and CEO, commented:
We generated strong consumption, organic volume and organic sales in the first quarter. This keeps us on track to deliver our top- and bottom-line targets for the fiscal year. Our focus on superiority, productivity and improving P&G’s organization and culture is driving improved results.
Shares of Procter & Gamble closed Thursday at $80.24, in a 52-week range of $70.73 to $93.14 and with a consensus analyst price target of $83.83. Following the announcement, the stock was up nearly 5% at $84.05 in early trading indications Friday.
24/7 Wall St.100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
