The Procter & Gamble Company Announces Consolidated Earnings Results for Second Quarter and Six Months Ended December 31, 2018; Provides Earnings Guidance for the Year 2019
January 23, 2019 at 07:00 am
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The Procter & Gamble Company announced consolidated earnings results for second quarter and six months ended December 31, 2018. For the quarter, Net Sales were $17,438 million against $17,395 million a year ago. Operating income was $3,896 million against $3,919 million a year ago. Net earnings was $3,216 million against $2,561 million a year ago. Basic net earnings per share was $1.25 against $0.96 a year ago. Diluted earnings per share were $1.22 against $0.93 a year ago.
For the six months, Net Sales were $34,128 million against $34,048 million a year ago. Operating income was $7,450 million against $7,567 million a year ago. Net earnings was $6,427 million against $5,431 million a year ago. Basic net earnings per share was $2.51 against $2.05 a year ago. Diluted earnings per share were $2.44 against $2.00 a year ago.
The company now estimates fiscal 2019 all-in sales growth in the range of down 1% to up 1% versus the prior fiscal year, which includes a headwind of three to four percentage points to sales growth from foreign exchange. The net effect of acquisitions and divestitures should have a modest positive impact on all-in sales growth. The company also maintained its expectation for core earnings per share growth of 3% to 8% versus fiscal 2018 Core EPS of $4.22. On an all-in GAAP basis, diluted net earnings per share are expected to increase 17 to 24% versus the prior year.
Procter & Gamble Company is one of the world's leaders in producing and selling consumer products. Net sales break down by family of products as follows:
- care and hygiene products (38.3%): oral hygiene products (toothpastes, toothbrushes, mouthwashes, etc.; Crest, Oral-B, Scope brands, etc.), pharmaceutical products (Metamucil, Neurobion, Pepto Bismol, Vicks, etc.), toilet training pants (Luvs, Pampers), toilet papers and paper towels (Bounty, Charmin, Puffs), feminine protection products (Always, Always Discreet and Tampax), etc.;
- home care and laundry products (34.6%): dishwashing liquids, detergents, stain removers, fabric softeners, deodorizers, bleaches, etc. (Ariel, Downy, Gain, Tide Cascade, Dawn, Fairy, Febreze, Mr. Clean, Swiffer, etc.);
- beauty products (18.3%): hair care products (shampoos, colorings, and cream rinses; Head & Shoulders, Herbal Essences, Pantene and Rejoice brands), body care (soaps, shower gels, deodorants, etc.; Camay, Zest, Secret, Old Spice) and cosmetics (make-up and facial care; Max Facto, Covergirl and Olay);
- shaving products (7.8%): blades, razors, batteries, etc. (Braun, Gillette and Venus brands);
- other (1%).
The Procter & Gamble Company Announces Consolidated Earnings Results for Second Quarter and Six Months Ended December 31, 2018; Provides Earnings Guidance for the Year 2019