Procter & Gamble Q2 Earnings Plunge on Charges; Adj Net Beats View; Forecast Slashed (PG)

By
A A A
Share |

Consumer products maker The Procter & Gamble Company ( PG ) on Friday posted a sharp decline in fiscal second quarter earnings, hurt by one-time charges, and lowered its full-year forecast.

The Cincinnati-based company reported fiscal second quarter net income of $1.69 billion, or 57 cents per share, down from $3.33 billion, or $1.11 per share, in the year-ago period. Excluding special items, adjusted profit was $1.10 per share.

On average, Wall Street analysts expected a smaller profit of $1.08 per share, albeit on higher revenue of $22.19 billion.

Looking ahead, P&G forecast third quarter earnings of 91 to 97 cents per share, which would badly miss Wall Street's view for $1.06 per share. For the full fiscal year 2012, the company lowered its earnings guidance to a range of $4 to $4.10 per share, down from a prior outlook of $4.15 to $4.33. Analysts are looking for $4.16 per share for the year.

Procter & Gamble shares fell 45 cents, or -0.7%, in premarket trading Friday.

The Bottom Line
Shares of Procter & Gamble ( PG ) have a 3.24% dividend yield, based on Friday's closing stock price of $64.80. The stock has technical support in the $62-$64 price area. If the shares can firm up, we see overhead resistance around the $68-$70 price level.

The Procter & Gamble Company ( PG ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Created by Dividend.com


This article appears in: Investing , Stocks

Referenced Stocks: PG

Dividend.com

Dividend.com

More from Dividend.com:

Related Videos

Stocks

Referenced

92%

Most Active by Volume

48,099,947
  • $16.09 ▲ 0.50%
40,277,806
  • $102.50 ▲ 0.24%
40,236,499
  • $19.57 ▲ 2.35%
31,092,510
  • $49.75 ▲ 0.65%
30,795,218
  • $34.92 ▲ 0.78%
29,910,855
  • $3.63 ▲ 0.83%
24,019,154
  • $13.06 ▼ 0.38%
23,753,906
  • $74.82 ▲ 1.31%
As of 8/29/2014, 04:04 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com