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Procter & Gamble tops profit estimates

MARKETWATCH 7:13 AM ET 08/01/14

NEW YORK (MarketWatch) -- Procter & Gamble Inc. (PG) said it earned $2.58 billion, or 89 cents a share, in its fiscal fourth quarter, up from $1.88 billion, or 64 cents a share, in the same period a year ago. The maker of consumer goods including Tide, Crest and Pampers said adjusted per-share earnings came to 95 cents, to top the FactSet consensus estimate of 91 cents. Sales fell 1% to $20.2 billion, below the FactSet consensus of $20.476 billion, weighed down by currency movements and a negative impact from divestitures. "We have more work to do to deliver the profitable sales growth and strong cash productivity we are capable of delivering," Chief Executive A.G. Lafley said in a statement. Looking ahead, the company is expecting fiscal 2015 sales growth in the low-single digit range, and organic sales growth in the low-to-mid single digits. Per-share earnings are expected to grow in the mid-single digits. Shares were little changed in premarket trade.

-Ciara Linnane; 415-439-6400; [e-mail]

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08-01-140713ET
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