P&G Lowers Q4 Estimates
Procter & Gamble Co (NYSE: PG) lowered its fourth-quarter profit and sales estimates.
P&G now projects Q4 earnings of $1.17 to $1.26 per share, or adjusted earnings of $0.75 to $0.79 per share. However, analysts were expecting a profit of $0.82 per share. P&G had earlier expected adjusted profit of $0.79 to $0.85 per share.
It expects net sales to come in 1% to 2% lower, versus its earlier forecast of up 1% to 2%.
P&G shares closed at $62.21 yesterday.
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