Battery Sales Power Gillette

Hurricanes boost revenue at its Duracell business and the company easily beats expectations.
Author:
Publish date:

Battery sales powered

Gillette's

(G) - Get Report

third-quarter earnings.

Net income rose 14% to $475 million, or 47 cents a share, thanks to a 15% increase in sales at its Duracell battery unit, which benefited from the series of hurricanes that hit Florida and other parts of the southeast U.S. during the period. The company earned $416 million, or 41 cents, a year ago.

Analysts expected Gillette to earn 43 cents a share, according to Thomson First Call.

Revenue rose 12% to $2.69 billion. Duracell battery sales rose 15% to $592 million. Blades and razors sales rose 7% to $1.11 billion.

"The strong results reflected excellent retail and consumer demand for Gillette's established products; strong interest in new offerings from its shaving, oral care and personal care businesses; and heightened hurricane-related sales of its batteries in the U.S."

Shares closed at $40.09 Wednesday.