Procter & Gamble beats by $0.01, reports revs in-line; reaffirms FY18 EPS guidance, revs guidance (91.59)
- Reports Q1 (Sep) earnings of $1.09 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus of $1.08; revenues rose 0.8% year/year to $16.65 bln vs the $16.69 bln Capital IQ Consensus. Organic sales also increased one percent driven by a one percent increase in shipment volume. Pricing, mix and foreign exchange had no net impact on sales for the quarter.
- Co reaffirms guidance for FY18, sees EPS of +5-7% to ~ $4.12-4.19, excluding non-recurring items, vs. $4.18 Capital IQ Consensus Estimate; sees FY18 revs of +3% to ~$67.0 bln vs. $67.15 bln Capital IQ Consensus Estimate.
- Guidance Details: P&G said it is maintaining its guidance for organic sales growth in the range of two to three percent for fiscal 2018. The Company estimates all-in sales growth of about three percent for fiscal 2018, which includes a neutral to half-a-percentage-point benefit to sales growth from the combined impacts of foreign exchange, acquisitions and divestitures. P&G noted that it is maintaining estimates despite over $100 million of incremental commodity cost headwinds resulting from the hurricanes that impacted the Gulf Coast in September.