Procter & Gamble beats by $0.01, reports revs in-line; reaffirms FY14 EPS guidance, revs guidance
Reports Q2 (Dec) earnings of $1.21 per share, $0.01 better than the Capital IQ Consensus Estimate of $1.20; revenues rose 0.5% year/year to $22.28 bln vs the $22.36 bln consensus. Procter & Gamble reiterated fiscal year 2014 guidance.
Segments:
Beauty segment organic sales were unchanged. Gains from market growth and innovation in Prestige, Hair Care, Deodorants, and Personal Cleansing, were offset by geographic and product mix and a decrease in Skin Care sales.
Grooming segment organic sales increased three percent as higher pricing and innovation on Blades & Razors and Appliances were partially offset by market contraction in developed regions and geographic and product mix.
Health Care segment organic sales grew five percent due to increases in Oral Care and Personal Health Care from innovation which were partially offset by a decrease in Pet Care behind the continuing impacts from the product recalls in the previous fiscal year for Natura.
Fabric Care and Home Care segment organic sales increased four percent with growth in Fabric Care and Home Care due to innovation and market expansion in developing regions. Personal Power sales decreased due to shipments in the prior year which included the impact of Superstorm Sandy.
Baby, Feminine and Family Care segment organic sales increased three percent behind product innovation and Baby Care market growth in the developing regions.
Guidance:
Co reaffirms guidance for FY14, sees EPS of +5-7% to ~$4.25-4.33 bln vs. $4.27 Capital IQ Consensus Estimate; sees FY14 revs of +1-2% to ~$85.01-85.85 bln vs. $85.84 bln Capital IQ Consensus Estimate. The Company continues to expect organic sales growth of +3-4%