Procter & Gamble Co.’s stock rose 5% Tuesday after the consumer-goods giant beat profit estimates for its fiscal second quarter, as higher prices boosted margins. The Cincinnati-based parent to Charmin and Bounty toilet paper, Febreze and Downy detergent, Gillette shaving products and Pantene shampoo
PG,
+4.23%
posted net income of $3.468 billon, or $1.40 a share, for the quarter to Dec. 31, down from $3.933 billion, or $1.59 a share, in the year-earlier period.
Adjusted per-share earnings came to $1.84, well ahead of the $1.70 FactSet consensus. Sales rose 3% to $21.441 billion from $20.733 billion year ago, just below the FactSet consensus of $21.476 billion. By segment, sales rose 6% at the company’s grooming business as prices rose by an average of 7% and volume rose 1%. The company raised prices in previous quarters. Sales at the beauty business rose 1% after prices rose by an average of 4%, while volumes were flat. Sales at the healthcare division were up 4%, after an average price increase of 5%, as volumes fell 3%. Sales at the fabric- and home-care division rose 5% after prices rose an average of 4%. Volumes were flat. Sales at the baby-, feminine- and family-care segment rose 2% after a 4% hike in prices, while volumes fell 2%. Gross mar …
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PG,
+4.23%
posted net income of $3.468 billon, or $1.40 a share, for the quarter to Dec. 31, down from $3.933 billion, or $1.59 a share, in the year-earlier period.
Adjusted per-share earnings came to $1.84, well ahead of the $1.70 FactSet consensus. Sales rose 3% to $21.441 billion from $20.733 billion year ago, just below the FactSet consensus of $21.476 billion. By segment, sales rose 6% at the company’s grooming business as prices rose by an average of 7% and volume rose 1%. The company raised prices in previous quarters. Sales at the beauty business rose 1% after prices rose by an average of 4%, while volumes were flat. Sales at the healthcare division were up 4%, after an average price increase of 5%, as volumes fell 3%. Sales at the fabric- and home-care division rose 5% after prices rose an average of 4%. Volumes were flat. Sales at the baby-, feminine- and family-care segment rose 2% after a 4% hike in prices, while volumes fell 2%. Gross mar …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]