Procter & Gamble beats by $0.04, misses on revs; guides FY14 EPS in-line (77.32)
Reports Q4 (Jun) core earnings of $0.95 per share, $0.04 better than the Capital IQ Consensus Estimate of $0.91; revenues fell 0.7% year/year to $20.16 bln vs the $20.48 bln consensus.
- Co issues in-line guidance for FY14, sees EPS of mid single digits (cons +3.9%) vs. $4.21 Capital IQ Consensus Estimate.
- "We met our objectives in a very difficult operating environment, delivered strong constant currency earnings growth, and built on our strong track record of cash returns to shareholders. Still, we have more work to do to deliver the profitable sales growth and strong cash productivity we are capable of delivering. We will discuss our going-forward strategy and plans to further strengthen our results during our earnings call this morning."
- Guidance Details: P&G expects organic sales growth in the low-to-mid single digit range in fiscal year 2015. Net sales growth is expected to be in the low single digit range, including a negative one point impact from foreign exchange