Consumer products giant The Procter & Gamble Company (
) on Tuesday said its fourth quarter profit fell 12% from last
year, despite a rise in sales, as marketing costs rose.
The Cincinnati-based company reported a fiscal fourth quarter
profit of $2.2 billion, or 71 cents per share, compared with $2.5
billion, or 80 cents per share, in the year-ago period. Revenue
rose 5% from last year, to $18.9 billion.
On average, Wall Street analysts expected a larger profit of 73
cents per share, on higher revenue of $19.1 billion.
Looking ahead, the company predicted current-year profit to rise
4% to 6%, with net sales rising 2% to 4%. It said full-year
earnings would range between $3.91 and $4.01 per share. Analysts
currently expect a full-year profit of $3.98 per share.
For the current first fiscal P&G predicted revenue growth of
1% to 3%, or 3% to 5% on an adjusted basis, with profit of 97 cents
to $1.01 per share. Analysts currently expect a higher $1.04 per
share for the first quarter.
Procter & Gamble shares fell $2.16, or -3.5%, in premarket
The Bottom Line
We have been recommending shares of PG since Sept.1, 2009, when the
stock was trading at $54.11. The company has a 3.11% dividend
yield, based on last night's closing stock price of $62.06.
The Procter & Gamble Company (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.5 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