- Procter & Gamble (NYSE:PG) reports organic revenue increased 1% in FQ3. Organic health care sales were up 6% during the quarter to help offset weakness in grooming.
- Organic sales were up 1% for the beauty, baby/feminine/family care and fabric/home care businesses.
- P&G's core gross margin fell 40 bps during the quarter, half of which was from negative F/X translation. Higher commodity costs and an unfavorable geographic mix also cut into margin benefits piled up from productivity savings.
- SG&A expenses fell 40 bps as a percentage of sales. Core SG&A expenses were down 30 bps. After stripping out F/X, core operating profit margin was up 10 bps in FQ3.
- Procter expects 2017 EPS growth in a mid-single digit rate. The consumer products giant boosts its guidance for adjusted free cash flow to 95% from a prior estimate of 90% or more.
- Previously: Procter & Gamble beats by $0.02, misses on revenue (April 26)
- PG -0.89% premarket to $89.20.
- Now read: Procter & Gamble: Gillette Might Be For Sale
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