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P&G (PG) Stock Dips 1.3% as Q4 Sales Miss, Earnings Top

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The Procter & Gamble Company (PG - Free Report) , popularly known as P&G, reported fourth-quarter fiscal 2018 results, wherein core earnings of 94 cents per share rose 11% year over year and also beat the Zacks Consensus Estimate of 90 cents.

The company anticipates core EPS growth of 3-8% in fiscal 2019, compared with fiscal 2018 core earnings of $4.22 per share. This implies core EPS of $4.45 at the midpoint of the growth range.

Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has been stable in the last 30 days. If we look at P&G’s performance in the trailing four quarters (excluding the quarter under review), the company has underperformed the Zacks Consensus Estimate by an average of 4.1%.

Revenues: P&G generated net sales of $16,503 million that improved 2.6% year over year but slightly lagged the Zacks Consensus Estimate of $16,552 million. The year over year increase was backed by strong sales from its Beauty, Health Care, and Fabric & Home Care businesses.

The company anticipates organic sales growth of 2-3% for fiscal 2019. However, P&G expects all-in sales growth to be nearly flat to up 1% in fiscal 2019.

Zacks Rank: Currently, P&G carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Stock Movement: P&G’s shares declined nearly 1.3% during pre-market trading hours following the earnings release. The decline is mainly attributed to the lower-than-expected sales performance and a soft first half fiscal 2019 view.

Check back later for our full write up on P&G’s earnings report!

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