P&G Earnings: Investors Bid Shares to a New 52-Week High

S&P 500 (NYSE:SPY) component Procter & Gamble Co. (NYSE:PG) reported its results for the first quarter. Procter & Gamble sells and markets consumer products such as pharmaceuticals, cleaning supplies, personal care, and pet supplies in more than 180 countries.

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Procter & Gamble Co. Earnings Cheat Sheet

Results: Net income for Procter & Gamble Co. fell to $2.85 billion (96 cents per share) vs. $3 billion ($1.01 per share) a year earlier. This is a decline of 4.9% from the year-earlier quarter.

Revenue: Fell 3.7% to $20.74 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Procter & Gamble Co. fell in line with the mean analyst estimate of 96 cents per share. It beat the average revenue estimate of $20.3 billion.

Quoting Management: “Our first quarter results put us on track to deliver our commitments for the fiscal year. Results were at the high end of expectations on the top line and ahead of plan on operating profit, earnings per share and cash,” said Chairman, President and Chief Executive Officer, Bob McDonald. “We are continuing to focus on executing our growth and productivity strategy – maintaining momentum in developing markets, strengthening our core developed market business, building a strong innovation pipeline, and aggressively driving cost savings and productivity improvements. We’re confident that this strategy will enable P&G to generate superior levels of shareholder return in both short-and long-term.”

Key Stats:

The company met estimates last quarter after toppling them in the two previous quarters. In the fourth quarter of the last fiscal year, it topped the mark by 5 cents, and in the third quarter of the last fiscal year, it was ahead by one cent.

Looking Forward: Expectations for the company’s next-quarter performance are higher than they were ninety days ago. Over the past three months, the average estimate for the second quarter has risen to $1.10 per share from $1.08. For the fiscal year, the average estimate has moved up from $3.90 a share to $3.91 over the last thirty days.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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