Organic sales were up 3% at Procter & Gamble (NYSE:PG) on flat overall sales during FQ1.
Volume by segment: Beauty -2%, Grooming flat, Health Care +5%, Fabric & Home Care +2%, Baby/Feminine/Family Care +3%.
F/X impact by segment: Beauty -2%, Grooming -3%, Health Care -3%%, Fabric & Home Care -2%, Baby/Feminine/Family Care -3%.
Pricing impact by segment: Beauty +1%, Grooming +1%, Health Care +1%, Fabric & Home Care -1%, Baby/Feminine/Family Care -1%.
P&G’s reported gross margin rate was down 30 bps during the quarter, while core gross margin was up 130 bps on a F/X-neutral basis. Productivity gains factored kicked in during the quarter to help lead to the EPS beat.
Core SG&A as a percentage of sales were 40 bps higher, including 30 bps of unfavorable F/X swings.
Procter & Gamble backs prior guidance for organic sales growth of 2% in FY17. The company sees FY17 EPS growth in the mid-single digits.
Previously: Procter & Gamble beats by $0.05, beats on revenue (Oct. 25)
PGH +1.43% premarket to $85.30.
Fuente: Seeking Alpha
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