P&G Posts Another Quarter of Strong Sales Gains
October 22 2019 - 8:14AM
Dow Jones News
By Sharon Terlep
Procter & Gamble Co. said sales rose across all of its
business lines in its latest quarter, as consumers continued to pay
higher prices for household goods despite slower global growth and
worries about tariffs.
The maker of Tide laundry detergent and Pampers diapers on
Tuesday reported that organic sales, which excludes currency
fluctuations, acquisitions and asset sales, rose 7%, continuing a
streak of solid growth. Net sales were $17.8 billion in sales for
its fiscal first quarter, surpassing forecasts from analysts polled
by FactSet.
Overall sales volumes for the quarter increased 7%, while prices
rose 1%.
Net earnings at the Cincinnati-based company rose to $3.6
billion, or $1.41 a share, from $3.2 billion, or $1.26 a share, a
year earlier. P&G's core earnings of $1.37 a share beat
predictions from analysts.
--Micah Maidenberg contributed to this article
(END) Dow Jones Newswires
October 22, 2019 07:59 ET (11:59 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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