Procter & Gamble reaffirms Q1 EPS, FY10 EPS and revs guidance; sees return to organic sales growth in second quarter Co reaffirms guidance for Q1 (Sep), sees EPS of $0.95-1.00 vs. $0.97 First Call consensus; co also sees organic sales down 7-10% YoY vs -9.9% consensus. Co reaffirms guidance for FY10 (Jun), sees EPS of $3.65-3.80, excluding the sale of its Pharma biz, vs. $3.68 consensus; co also reaffirms its organic sales outlook of up 1-3% vs the -0.6% consensus. The co also stated it expects to return to organic sales growth in the October - December quarter compared to prior year levels, following two quarters of organic sales declines.
"We clearly see that we are approaching an inflection point in P&G's organic sales trends. The innovations we are launching and the investments we are making are having an impact in the market. In addition, comparisons to prior year results will get easier as we move into the second quarter."
Co also provided guidanec including the sales of the Pharmaceutical biz; it now sees FY10 EPS of $3.99-4.12. This includes a one-time net increase in earnings of $0.44 per share from the sale of the Pharmaceutical business, which will be partially offset by $0.10 to $0.12 per share of earnings dilution related to the transaction.
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Bilibala comments:
Great!! Looks like the consumer staple sector has started the recovery journey. Let's see whether the actual will follow through according to Management's expectations.
9.10.2009
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