Procter & Gamble beats by $0.07, reports revs in-line; mid-point of FY18 EPS guidance above consensus, revs above consensus (89.24)
- Reports Q4 (Jun) core earnings of $0.85 per share, excluding non-recurring items, $0.07 better than the Capital IQ Consensus of $0.78; revenues fell 0.1% year/year to $16.08 bln vs the $16.01 bln Capital IQ Consensus.
- Co issues upside guidance for FY18, sees core EPS growth of +5-7%, which we compute as $4.12-4.19, excluding non-recurring items, vs. $4.12 Capital IQ Consensus Estimate; sees FY18 revenue growth of +3%, which we compute as approximately $67.00 bln vs. $66.69 bln Capital IQ Consensus Estimate.
- "We met or exceeded each of our going-in objectives for fiscal year 2017 in a challenging macro and competitive environment.