P&G Lowers Q4 Estimates

Procter & Gamble Co

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.