Procter & Gamble (PG) Tops Q2 EPS by 5c

Procter & Gamble (NYSE: PG) reported Q2 EPS of $1.19, $0.05 better than the analyst estimate of $1.14. Revenue for the quarter came in at $17.4 billion versus the consensus estimate of $17.39 billion.

P&G said it is maintaining its guidance for organic sales growth in the range of two to three percent for fiscal 2018. The Company estimates all-in sales growth of about three percent for fiscal 2018, which includes a neutral to half-a-percentage-point benefit to sales growth from the combined impacts of acquisitions and divestitures and foreign exchange.

P&G said it is raising its core earnings per share growth outlook from five to seven percent to five to eight percent versus fiscal 2017 Core EPS of $3.92. It is raising the upper-end of the guidance range to reflect the potential benefit from the Tax Act. GAAP earnings per share are expected to decrease 30% to 32% 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 $0.10 per share of non-core restructuring costs and $0.24 per share of non-core charges related to the Tax Act.

For earnings history and earnings-related data on Procter & Gamble (PG) click here.

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