second-quarter earnings rose 9% from a year ago, helped by rising sales and a 24% decline in its income tax provision.
The consumer products company earned $454.3 million, or 90 cents a share, in the three months to June 30, up from $417.3 million, or 82 cents a share. Revenue rose 6.5% to $3.78 billion.
Analysts had been forecasting earnings of 89 cents a share on sales of $3.79 billion in the quarter. The company reiterated that it expects full-year earnings to be at the high end of a $3.55- to $3.65-a-share range. Analysts currently expect $3.65 a share.
Sales growth in the latest quarter was driven by 5% volume growth, currency translation and improved product mix.