The Procter & Gamble Company (PG - Free Report) enjoys strong brand recognition with its consumer products sold in more than 180 countries primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high frequency stores and pharmacies.
However, PG’s sales performance has been sluggish over the past few quarters due to significant negative Fx impact, slower global growth and macroeconomic headwinds in several key markets.
Nevertheless, P&G is in the process of turning around its business through divesture of underperforming brands, aggressive cost savings, making focused investments in innovation and go-to-market capabilities and improved execution.
Investors should also note that earnings estimates have remained unchanged for PG for the current year and the next over the last 30 days. P&G has delivered positive earnings surprise in all the past four quarters which translated into an average earnings surprise of 3.97% for the trailing four quarters.
Currently, PG has a Zacks Rank #3 (Hold), but that could definitely change following P&G’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: PG reported core earnings of 85 cents per share, beating our consensus estimate of 78 cents/share.
Revenues: PG reported revenues of $16.08 billion, beating our consensus estimate of $16.00 billion.
Key Stats to Note: Organically, excluding the impact of acquisitions, divestitures and foreign exchange, revenues grew 2% on 2% growth in volumes. Currency impact hurt sales by 2%.
Stock Price: PG stock was up 1.64% in the pre-market trading at the time of writing.
Check back later for our full write up on this PG earnings report later!
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artifical intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future. Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential. See these stocks now>>