P&G Ups Earnings Forecast on Folgers Sale
The consumer products company raised its earnings forecast after saying it expects a gain from the sale of Folgers to be higher than estimated.
Procter & Gamble
(PG) - Get Procter & Gamble Company (The) Report
raised its earnings forecast after saying it expects a gain from the sale of the Folgers coffee business to be 63 cents a share, an increase of 13 cents from its previous estimate.
The consumer products company late Monday said it now expects earnings in its fiscal second quarter of $1.58 to $1.63 a share, and fiscal 2009 earnings of $4.28 to $4.38 a share.
Analysts surveyed by
Thomson Reuters
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expect earnings of $1.47 a share in the second quarter and $4.18 a share for the fiscal year.
P&G last week completed the sale of Folgers for about $3 billion to
J.M. Smucker
(SJM) - Get J.M. Smucker Company (The) Report
.
