Procter & Gamble Down 2.4% on Lower Than Expected Full Year Guidance

The Procter & Gamble Company PG is trading lower pre-market following its earnings announcement this morning. The company reported a core EPS of $0.94 vs $0.93 estimate and revenues $20.2 billion vs $20.30 billion estimate. P&G also guided FY12 core EPS $3.82-$3.88 vs $3.96 estimate. Chairman of the Board, President and Chief Executive Officer Bob McDonald. “We delivered broad-based organic sales growth, with all of our business segments growing, in a difficult macroeconomic and competitive environment. We are making good progress against our productivity and cost savings program and improving core operating profit growth as we continue to execute our innovation and portfolio expansion plans. Looking ahead, we expect further acceleration in core operating profit growth in the fourth quarter driven by top-line growth, more favorable cost comparisons and productivity improvements.” Procter & Gamble is currently trading at $65.25, down $1.62 or 2.42% pre-market .