Procter & Gamble earnings, revenue beat expectations
Procter & Gamble Co. reported Tuesday fiscal fourth-quarter earnings that rose to $1.95 billion, or 69 cents a share, from $521 million, or 18 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share fell 15% to 79 cents, but beat the FactSet consensus of 74 cents. Revenue fell 3% to $16.10 billion from $16.55 billion, but was above the FactSet consensus of $15.83 billion. Declines in beauty, fabric & home care and baby, feminine & family care sales offset growth in grooming and health care sales. For fiscal 2017, the consumer products giant expects adjusted EPS growth in the mid-single digits percentage range, while the FactSet EPS consensus of $3.95 implies 7.6% growth. The stock, which was little changed in premarket trade, has climbed 8.8% year to date while the Dow Jones Industrial Average has gained 5.6%.
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