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10/20/2020, 1:03 PM (Source: TeleTrader)
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P&G posts EPS at $1.63 in Q1 2021, up 20% YoY

The Procter & Gamble Company announced on Tuesday its diluted earnings per share for the first quarter of 2021 at $1.63, a 20% increase from the same quarter last year. Net sales grew by 9% year-on-year, totaling $19.3 billion. Net earnings came to $4.2 billion, 19% higher on a yearly basis.

The company added that it expected to pay approximately $8 billion in dividends in fiscal 2021, and increased its outlook for common stock repurchase from $6 billion - $8 billion to a range of $7 billion to $9 billion.

"We delivered another strong quarter of organic sales growth, core earnings per share and cash returned to shareowners, enabling us to increase our outlook for fiscal year results," said David Taylor P&G president and CEO. "We remain firmly focused 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."

P&G shares jumped 2.33% in premarket trade.

Breaking the News / DJ