Procter & Gamble presents earnings outlook
CINCINNATI (AP) – Procter & Gamble Co. said Thursday it expects its earnings before restructuring charges to increase by about 15 percent in the current quarter, citing strong sales in its Clairol products and health care divisions and developing markets. That would beat Wall Street expectations. Analysts surveyed by Thomson First Call expected core earnings per share of $1.09, up 13.5 percent from 96 cents a share a year ago.
P&G said it also expects its sales, excluding the effect of foreign exchange rates, to increase by close to 10 percent for its first fiscal quarter which ends Sept. 30.
The Cincinnati-based company’s products include Tide detergent, Pampers diapers, Crest toothpaste, Folgers coffee and Pringles snack chips. The company’s guidance for all of the new fiscal year remains unchanged.
Core earnings per share are expected to increase by a rate in the double digits, which would meet P&G’s long-term goal.
Sales, excluding foreign exchange impacts, are expected to increase by 4 percent to 6 percent during the year ending June 30.
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