P&G (PG) Reports

By Douglas A. McIntyre Published Oct 30, 6:09AM EDT

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P&G (PG) announced net sales growth of eight percent to $20.2 billion for the quarter. Analysts were looking for $20.21 billion.

Earnings per share were up 16 percent to $0.92 per share, including a one- time tax benefit which increased EPS by $0.02 per share. The company’s EPS growth, excluding the one-time benefit, was 14 percent. Earnings per share grew primarily behind strong sales growth and a 30-basis point improvement in operating margin. The company raised its fiscal year EPS outlook by $0.02 to reflect the one-time tax benefit. Wall St was looking for $.89.

Operating cash flow was $3.2 billion, an increase of nine percent versus the base period. Working capital used $220 million more cash versus the base period, primarily due to business growth. Free cash flow as a percentage of net earnings was 87%, roughly in-line with the year-ago level. Capital expenditures were 2.7% of net sales during the quarter.

Douglas A. McIntyre

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.