This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Procter & Gamble Profit, Sales Jump

The Procter & Gamble Co. (PG - Get Report) on Tuesday posted jumps in net sales and profit in its fiscal fourth quarter and 2008, as demand for the company's products remained strong amid the economic downturn.

For the fourth quarter ended in June, P&G recorded net earnings of $3 billion, or 92 cents a diluted share, a jump of 37% from the year-ago period. The company posted net sales of $21.3 billion, a jump of 10%. Excluding net tax benefits, the company earned an adjusted 80 cents a share. Analysts polled by Thomson Reuters had predicted a profit of 78 cents a share on sales of $21.05 billion.

For the full year, the consumer products maker earned $12.1 billion, or $3.64 a diluted share, a jump of 20%. The company posted net sales of $83.5 billion. Excluding net tax benefits, P&G earned an adjusted $3.50 a share. Analysts had forecast a profit of $3.50 a share on sales of $83.29.

"Once again, P&G delivered top and bottom line growth at or above the company's targets -- while also successfully completing the integration of Gillette," said Chairman and CEO A.G. Lafley in a company statement. "We're leading innovations across the brand portfolio, building value for consumers and customers which is critical to delivering good results in a difficult economic environment. The strength of the portfolio and our focus on innovation and productivity give us confidence that we will continue to deliver sustained growth in the coming year and beyond."

For the first quarter of fiscal 2009, ending at the end of September, P&G sees organic sales growth of between 4% and 6%, which would be between $21.01 billion and $21.41 billion. It expects a profit of between 98 cents and $1 a share. Analysts see a profit of $1 on sales of $21.69 billion.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
PG $82.31 0.19%
AAPL $123.25 -0.80%
FB $83.30 0.35%
GOOG $548.34 -1.23%
TSLA $185.00 -2.84%


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs