7/30/2019, 12:58 PM (Source: TeleTrader)
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P&G posts revenue of $17.1B in Q4, up 4% YoY

United States consumer goods corporation Procter & Gamble Co. (P&G) announced on Tuesday that its revenue for the fourth quarter of fiscal 2019 amounted to $17.1 billion, an increase of 4% compared to the same period of the last fiscal year. Its earnings per share (EPS) rose by 17% to $1.10 on the back of strong organic sales growth and core operating margin expansion and it generated $4.2 billion of operating cash flow in the quarter.

The company also reported that its net sales for the fiscal 2019 year also reached $67.7 billion, which was 1% higher than the previous year. Its EPS for the year topped $4.52, which was 7% greater than last year's. It added that it expects its all-in sales growth in fiscal 2020 to grow by between 3% and 4% and its EPS to increase by 4% to 9%

"We met or exceeded each of our going-in core targets for sales, profit and cash in fiscal 2019," said P&G CEO David Taylor. "Looking ahead, we will continue to focus on superiority, productivity, constructive disruption and improving P&G’s organization and culture to deliver sustainable, balanced top-line and bottom-line growth along with strong cash generation in a challenging competitive and macroeconomic environment," he added.

The company's stock was up 3.62% in premarket trading following the report's release.

Baha Breaking News (BBN) / DZ