P&G Posts Another Quarter of Strong Sales Gains

Date : 10/22/2019 @ 12:14PM
Source : Dow Jones News
Stock : Procter and Gamble Co (PG)
Quote : 120.54  0.0 (0.00%) @ 2:00PM
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P&G Posts Another Quarter of Strong Sales Gains

Procter and Gamble (NYSE:PG)
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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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