Procter & Gamble Co. Earnings Cheat Sheet: Snaps Strong Streak with Profit Drop

S&P 500 (NYSE:SPY) component Procter & Gamble Co. (NYSE:PG) reported its results for the first quarter. Procter & Gamble sells and markets consumer products such as pharmaceuticals, cleaning supplies, personal care, and pet supplies in more than 180 countries.

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Procter & Gamble Earnings Cheat Sheet for the First Quarter

Results: Net income for Procter & Gamble Co. fell to $3.02 billion ($1.03 per share) vs. $3.08 billion ($1.02 per share) a year earlier. This is a decline of 2% from the year earlier quarter.

Revenue: Rose 8.8% to $21.9 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: PG fell in line with the mean analyst estimate of $1.03 per share. Analysts were expecting revenue of $21.55 billion.

Quoting Management: “The first quarter was a good start to the fiscal year,” said Chairman of the Board, President and Chief Executive Officer Bob McDonald. “We maintained strong top-line growth momentum in a difficult operating environment.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.”

Key Stats:

Revenue has risen the past four quarters. Revenue increased 10.2% to $20.86 billion in the fourth quarter of the last fiscal year. The figure rose 5.5% in the third quarter of the last fiscal year from the year earlier and climbed 1.5% in the second quarter of the last fiscal year from the year-ago quarter.

Last quarter’s profit decrease breaks a streak of two consecutive quarters of year-over-year profit increases. Net income rose 14.9% in the fourth quarter of the last fiscal year and 11.1% in the third quarter of the last fiscal year.

The company fell in line with estimates last quarter after beating forecasts in the previous quarter with net income of 84 cents versus a mean estimate of net income of 82 cents per share.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the second quarter has moved down from $1.19 a share to $1.16 over the last ninety days. For the fiscal year, the average estimate has moved down from $4.28 a share to $4.21 over the last ninety days.

Competitors to Watch: Church & Dwight Co., Inc. (NYSE:CHD), Colgate-Palmolive Company (NYSE:CL), The Clorox Company (NYSE:CLX), Henkel AG & Co. (HEN3), Kimberly-Clark Corporation (NYSE:KMB), Johnson & Johnson (NYSE:JNJ), Teva Pharmaceutical Industries Ltd (NASDAQ:TEVA), The Stephan Co. (SPCO), CCA Industries, Inc. (AMEX:CAW), and Zep, Inc. (NYSE:ZEP).

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

(Source: Xignite Financials)