Procter & Gamble Cautious On FY12 View; 4Q Net Up |
| Wall Street Journal - Aug 5, 2011 |
Procter & Gamble Co.'s (PG) view for the upcoming year reflects broad uncertainty due to global economic jitters, another big increase in commodity costs and whether price increases will stick entirely.
P&G adopted a wider-than-normal range for its fiscal 2012 outlook, which encircled Wall Street estimates, calling for per-share earnings growth of 6% to 10%. The low-end is slightly below the consumer-product giant's long-term goals for annual growth of high-single digits to low double-digit growth, largely on questions percolating through the global economy.
The view came as P&G reported fiscal-fourth quarter earnings up 15%, with sales and volume growth around the world, though margins took a hit from higher commodity costs. Organic sales, which excludes impacts of acquisitions, divestitures and foreign exchange rates, rose 5% in the quarter, though that was boosted by one-percentage point as retailers stocked up on products like Bounty paper towels, Pampers diapers and Tide laundry detergent ahead of price increases.
The fourth-quarter results beat expectations. P&G shares rose 0.5% in recent trading to $59.86.
Read Full Article from Wall Street Journal
- Posted: 2011-08-05 22:51:55
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