Procter & Gamble Co (NYSE:PG) released the earnings results from its most recently completed quarter before opening bell this morning, posting adjusted earnings of $1.07 per share, a 2% year over year improvement, on $20.8 billion in revenue, which the company said was flat with last year. Analysts had been expecting earnings of $1.07 per share on $20.8 billion in revenue. In the same quarter last year, the consumer products company posted earnings per share of $1.05.
Net earnings per share were 69 cents, compared to $1.04 per share last year.
Procter & Gamble’s earnings by segment
The consumer products company said sales in its Beauty, Hair and Personal care segment were flat, as lower Prestige volumes offset pricing benefits in all business units. Sales in the Grooming segment were also flat, as lower Blades & Razors volumes in developed markets offset higher Appliances volume.
In the Health Care segment, Procter & Gamble saw a 6% increase in sales driven by growth in Oral Care and Personal Health Care and higher prices in Oral Care. Sales in the company’s Fabric Care and Home Care division were flat, as Personal Power products declined in volume, offsetting the increase in Fabric Care volume.
Sales in Procter & Gamble’s Baby, Feminine and Family Care division rose 4% due to pricing, especially in Baby Care, and a positive product mix, mainly in Feminine Care.
Procter & Gamble provides 2015 guidance
Procter & Gamble reiterated its previously provided guidance for the 2015 fiscal year. The consumer products company expects organic sales to grow by low- to mid-single digits. Procter projects net sales to be in line with the previous year to up by low single digits. That includes a negative impact of two points from foreign exchange. Management expects foreign exchange to weigh heavily on upcoming quarterly results, especially in the current quarter.
The company projects core earnings per share to grow by about mid-single digits. GAAP net earnings per share are expected to decline by 2% to 5% compared to the previous year. That includes about 55 cents of non-core charges, mostly in connection with a 20-cent per share impact from restructuring charges and 32 cents per share in impairment charges.