P&G CFO: We will continue to grow as consumers 'work to protect their health and improve hygiene' – Yahoo Finance
Procter & Gamble (P&G) is putting up some squeaky clean financials amidst the COVID-19 pandemic.
The maker of Tide, Olay and Gillette ticked all the boxes for the bulls in its fiscal fourth quarter released on Thursday, sending shares higher by 3% in pre-market trading. P&G (PG) saw organic sales rise in four of five segments paced by a 14% surge in its fabric care division. Within that business, home care organic sales surged 30% on the back of strength in home cleaning and dish washing products.
Here’s P&G’s earnings results compared to estimates by Bloomberg:
Net Sales: $17.7 billion versus estimates for $16.97 billion
Diluted EPS: $1.16 versus estimates for $1.01
Fiscal 2021 Guidance:
Organic Sales Growth: up 2% to up 4%
Organic EPS Growth: up 3% to up 7%
“Things are certainly going well as we step up to serve consumers in this period of heightened need,” P&G CFO Jon Moeller told Yahoo Finance’s The First Trade. Moeller added that demand continued to be solid into June.
P&G went a step further to appease the bulls, actually offering up full-year guidance — unlike many other multinationals right now. The company outlined organic sales growth of up to 4% with earnings per share potentially rising by a faster 7% pace.
“We think we can continue to grow at fairly attractive rates on the top and bottom line,” Moeller said. “There will be challenges that are built into those guidance ranges, but there is also significant opportunities to really step up and serve consumers as they work to protect their health and improve hygiene.”