UPDATE: Procter & Gamble Posts In-Line Q1 Earnings, Plans To Exit Duracell Personal Power Business

The Procter & Gamble Company (NYSE: PG) reported in-line earnings for the first quarter. The company announced its plans to exit Duracell personal power business and create a stand-alone Duracell company.The Cincinnati, Ohio-based company posted quarterly net income of $1.99 billion, or $0.69 per share, versus a year-ago profit of $3.03 billion, or $1.04 per share. Its earnings, excluding certain items, came in at $1.07 per share.Its revenue fell to $20.79 billion from $20.83 billion in the period. However, analysts were expecting earnings of $1.07 per share on revenue of $20.76 billion.Beauty, Hair, and Personal Care segment organic sales came in unchanged, while Health Care segment organic sales rose 6%. Fabric Care and Home Care segment organic sales came in unchanged, while Baby, Feminine and Family Care segment organic sales climbed 4% in the quarter.P&G generated operating cash flow of $3.6 billion in the quarter. The company returned $4.2 billion in cash to shareholders, including $2.4 billion of common stock repurchases and $1.8 billion in dividends.“P&G's first quarter results were in-line with our expectations, despite a very difficult operating environment,” said Chairman, President, and Chief Executive Officer A.G. Lafley. “This keeps us on-track to deliver our fiscal year commitments.”Procter & Gamble affirmed its adjusted EPS growth guidance for fiscal 2015.