1/23/2020, 1:10 PM (Source: TeleTrader)
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P&G Q2 EPS rises 16% YoY to $1.41

Procter & Gamble Co. announced on Thursday its revenue in the second quarter of fiscal 2020 rose 5% to amount to $18.24 billion. Operating income grew 15% compared to the same period last year, from $3.90 billion to $4.48 billion. Net earnings were $4.53 billion, increasing 16% on an annual basis. Diluted earnings per share stood at $1.41, up 16% year-over-year.

The organic sales of P&G's beauty business rose the most, 8%, followed by health care, which saw a 7% increase. Fabric and home care, and grooming rose 5% and 4% respectively, while baby, feminine and family care segment grew just 1%.

"Our strong first-half results enable us to further increase our outlook for the full fiscal year across each of these metrics and to increase our commitment of cash return to shareowners. Our focus remains on 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," chairman and CEO David Taylor said in the press release.

Baha Breaking News (BBN) / MD