This Day On The Street
Continue to site
ADVERTISEMENT
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

Procter & Gamble Profit Tops Expectations: Ahead of the Ticker

NEW YORK ( TheStreet) -- Household products maker Procter & Gamble (PG - Get Report) reported fourth-quarter profit that beat Wall Street expectations.

The results are the first since Chief Executive Officer A.G. Lafley rejoined P&G two months ago.

P&G reported net income that fell 48% to $1.88 billion, or 64 cents a share, from the same period a year ago. Excluding items, P&G said its profit came to 79 cents a share, beating analysts' estimates of 77 cents, according to Thomson Reuters.

Sales rose 2.2% during the period to $20.66 billion, surpassing analysts' expectations of $20.55 billion.

The company has been in the midst of a turnaround plan that has reorganized its product segments and aims to save $10 billion in costs by fiscal 2016. Lafley, who was previously CEO of P&G from 2000 to 2009, returned to the helm on May 23, replacing CEO Bob McDonald.

Looking ahead, the company said it expects fiscal-year earnings of $4.25 a share to $4.33 a share, a rise of 5% to 7%. Analysts expect earnings of $4.32 a share.


Royal Dutch Shell (RDS.A - Get Report) reported a 20% drop in second-quarter earnings, as challenges in Nigeria and impairment charges weighed on results.

Shell reported profit that fell to $4.6 billion during the quarter, excluding items, from $5.7 billion a year ago. The results missed analysts' expectations for profit of $6 billion and was the company's largest miss since 2008.

The company reported net profit of $1.74 billion, down from $4.08 billion in the same period last year, dragged down by a $2.2 billion impairment charge on its shale oil assets in North America.

The oil company has also experienced losses in Nigeria due to theft and other attacks on its operations.

CEO Peter Voser, who is set to retire next year, also attributed higher costs, exploration charges and adverse currency exchange rate effects to the lower-than-expected results.

Voser will be replaced by Ben van Beurden, who currently is the head of the company's refining and chemicals marketing businesses.
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
Only $9.95
14-Days Free
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
SYM TRADE IT LAST %CHG
GOOG $618.25 -1.92%
PG $70.67 -0.76%
SBUX $54.71 -1.65%
RDS.A $52.92 0.61%
T $33.20 -0.27%

Markets

Chart of I:DJI
DOW 16,528.03 -114.98 -0.69%
S&P 500 1,972.18 -16.69 -0.84%
NASDAQ 4,776.5080 -51.8170 -1.07%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs