Proctor & Gamble said Q3 EPS was $1.03 per share, which was right in line with estimates.
Net revenue grew 9% to $21.9 billion, which compares to the estimate of $21.5 billion.
“We maintained strong top-line growth momentum in a difficult operating environment,” said CEO Bob McDonald. “We are well positioned – due to continued top-line strength, recently implemented price increases and our productivity improvement and cost savings efforts – to improve earnings growth as we progress through the fiscal year.”
The company reported organic sales growth in all six of its products segments thanks to a combination of higher volumes and prices.
Management reiterated its full fiscal year core EPS guidance of $4.17 to $4.33. Analysts were expecting $4.21.
Net sales and organic sales are expected to increase three to six per cent in fiscal 2012. Foreign exchange is expected to be neutral to sales growth for the year. Pricing is expected to add three to four per cent to sales while unfavorable product and geographic mix is expected to reduce sales by one to two per cent.
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