Procter & Gamble: maintains full-year forecasts, shares up
(CercleFinance.com) - Procter & Gamble maintained its full-year forecasts after a "strong" quarter, as it benefited from higher consumer demand in North America and Europe due to the COVID-19 pandemic.
The US giant - which makes the Bounty paper towels and the Charmin toilet paper - said it made net sales of 17.2 billion dollars in its fiscal third quarter, up 5% year-on-year.
Diluted net earnings per share were 1.12 dollar, an eight percent increase versus the prior year, and core earnings per share increased 10% to 1.17 dollar, the consumer goods manufacturer said.
Analysts, on average, expected EPS of 1.13 dollar.
For the full-year, the Cincinnati-based company maintained its guidance for organic sales growth of four to five percent, also keeping its guidance for core EPS growth in a range of eight to eleven percent.
The results were welcomed by investors, with the shares up 0.9% in early morning trading on the New York Stock Exchange.
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