Market Overview

Procter & Gamble Grows Bottom Line By 5% In Q1

Share:

Procter & Gamble Co (NYSE: PG) delivered 5 percent growth in the bottom line in the first quarter. While net sales remained flat, organic sales advanced 3 percent in the same period. The stock got a boost in Tuesday's pre-market session.

  • Reports 5 percent increase in EPS to $0.96. Core EPS is $1.03 and beat by $0.05.
  • Net sales of $16.5 billion are in line with the consensus.
  • Repurchased shares worth $1 billion in the first quarter.
  • Maintains core EPS growth outlook of mid-single digits for fiscal year 2017 compared to $3.67 achieved in fiscal year 2016.

Chairman, President and CEO David Taylor, commented, "We are now focusing all our efforts on 10 large, structurally attractive categories where P&G holds leading positions. We're pleased with the progress we're making, but there is still more work to do to get back to the levels of balanced top- and bottom-line growth and cash generation that will consistently put P&G shareholder value creation among the best in our industry."

The company's full press release: http://www.pginvestor.com/file/Index?KeyFile=36376526

The stock added 2.26 percent to $86.00 in pre-market trading on Tuesday.

 

Related Articles (PG)

View Comments and Join the Discussion!

Posted-In: Earnings News Guidance