Biggest volume gain lifts P&G quarterly net
By Jessica Wohl |
April 30, 2010, Friday
|
Print Edition
Print Edition
PROCTER & Gamble Co posted a higher-than-expected quarterly profit, helped by its biggest volume gain in more than four years, but it forecast results for the current quarter below Wall Street estimates.
The world's largest household products company's profit fell to US$2.59 billion, or 83 cents per share, in the third quarter that ended on March 31 from US$2.61 billion, or 84 cents per share, a year earlier.
Core earnings per share, which exclude certain tax, legal and restructuring charges, rose 10 percent to 89 cents. On that basis, the Cincinnati-based maker of Tide detergent and Gillette razors had forecast 77 cents to 82 cents and analysts anticipated 82 cents, according to Thomson Reuters.
Sales rose 7.4 percent to US$19.18 billion, while analysts were looking for sales of US$19.53 billion.
Organic sales, which strip out currency fluctuations, acquisitions and divestitures, rose 4 percent, meeting the low end of the company's 4 percent to 6 percent forecast.
The volume of goods sold rose 7 percent.
For fiscal 2010, P&G aims to earn US$4.06 to US$4.12 per share instead of US$4.02 to US$4.12 per share.
The world's largest household products company's profit fell to US$2.59 billion, or 83 cents per share, in the third quarter that ended on March 31 from US$2.61 billion, or 84 cents per share, a year earlier.
Core earnings per share, which exclude certain tax, legal and restructuring charges, rose 10 percent to 89 cents. On that basis, the Cincinnati-based maker of Tide detergent and Gillette razors had forecast 77 cents to 82 cents and analysts anticipated 82 cents, according to Thomson Reuters.
Sales rose 7.4 percent to US$19.18 billion, while analysts were looking for sales of US$19.53 billion.
Organic sales, which strip out currency fluctuations, acquisitions and divestitures, rose 4 percent, meeting the low end of the company's 4 percent to 6 percent forecast.
The volume of goods sold rose 7 percent.
For fiscal 2010, P&G aims to earn US$4.06 to US$4.12 per share instead of US$4.02 to US$4.12 per share.
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