Companies and Brands
Why Procter & Gamble Q2 Earnings Were Not Enough
Published:
Last Updated:
Procter & Gamble Co. (NYSE: PG) released its most recent quarterly results before the markets opened on Tuesday. The company posted $1.19 in earnings per share (EPS) and $17.4 billion in revenue, compared with consensus estimates from Thomson Reuters that called for $1.14 in EPS on revenue of $17.39 billion. The same period of last year reportedly had EPS of $1.08 and $16.86 billion in revenue.
During the quarter, the company tallied a provisional net charge of $628 million related to the Tax Cut and Jobs Act, comprised of an estimated repatriation tax charge of $3.8 billion (comprised of the U.S. repatriation taxes and foreign withholding taxes) and a net deferred tax benefit of roughly $3.2 billion.
P&G reported its quarterly results for its business segments as follows:
Looking ahead to the fiscal 2018 full year, the company expects to see core EPS up 5% to 8%, compared to in 2017. P&G also expects all-in sales growth of about 3% in the same time. The consensus estimates call for $4.18 in EPS and $67.05 billion in revenue for the 2018 fiscal year.
David Taylor, board chair, president and chief executive, kept it short and sweet:
We accelerated organic sales growth and delivered strong productivity cost savings and cash flow. We remain on track to achieve our fiscal year objectives.
Shares of Procter & Gamble traded down about 3% at $89.18 early Tuesday, with a consensus analyst price target of $93.84 and a 52-week range of $85.42 to $94.67.
If you want to retire before 65, pay attention. Study after study has shown that the longer you stay invested, the better your chances at an early retirement.
Every day that goes by without saving and investing for tomorrow means more to earn and save later. Don’t waste any more time and get started with Robinhood today. The app makes it easy to buy and sell stocks, mutual funds, trade options, and even cryptocurrencies.
Sign up today — click here to start your journey.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.