Procter & Gamble (NYSE:PG) earnings for the consumer goods corporation’s fiscal first quarter of 2020 have PG stock heading higher on Tuesday. This is thanks to the company’s core EPS of $1.37. This easily beats out Wall Street’s estimate of $1.24 for the period. Revenue of $17.80 billion is also a boon to PG stock by coming in above analysts’ estimate of $17.42 billion.
Let’s take a more comprehensive look at the most recent Procter & Gamble earnings report.
- Core per-share earnings are up 22.32% YoY from $1.12.
- Revenue is 6.65% higher than the $16.69 billion reported during the same time last year.
- Gross profit of $9.08 billion is 11% better than $8.21 billion in fiscal Q1 2019.
- Operating income comes in at $4.29 billion, which is a 20.85% increase over $3.55 billion in the same period of the year prior.
- The Procter & Gamble earnings report also includes a net income of $3.59 billion.
- That’s 12.19% higher than $3.20 billion in the fiscal first quarter of the previous year.
David Taylor, Chairman, President and CEO of Procter & Gamble, says this about the PG stock earnings.
“We delivered strong top-line growth, profit margin expansion and cash productivity in the first quarter, enabling us to increase our outlook for fiscal year results. We will continue executing our strategies of superiority, productivity, constructive disruption and improving P&G’s organization and culture to deliver balanced top-line and bottom-line growth along with strong cash generation in a challenging competitive and macroeconomic environment.”
The Procter & Gamble earnings report also has it now expecting core earnings per share growth between 5% and 10% for fiscal 2020. It was previously expecting growth between 4% and 9%.
PG stock was up 2.82% as of Tuesday afternoon. It’s also up 30.46% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
