06.03.19
Procter & Gamble said sales rose 1% to $16.5 billion in Q3 of fiscal 2019. The results topped estimates, but company executives said it will be tough sledding going forward, predicting full-year sales growth of flat to up 1%. In the past 12 months, P&G’s shares have jumped more than 45%.
“We delivered another quarter of strong organic sales growth, enabling us to further increase our outlook for the year,” said David Taylor, chairman, president and chief executive officer, Procter & Gamble. “Cash generation also remains strong, supporting an increase in our cash productivity target and extending our long track record of dividend increases. Our focus on superiority, productivity and improving P&G’s organization and culture is delivering improved results despite a challenging competitive and macroeconomic environment.”
By category, beauty sales rose 4% on a 3% increase in volume; grooming sales fell 8%, due in part, to a 3% decline in volume; health care sales jumped 9% on a 7% increase in volume; fabric and home care sales rose 2% on a 5% increase in volume; but baby, feminine and family care sales fell 2% on flat volume.
“We delivered another quarter of strong organic sales growth, enabling us to further increase our outlook for the year,” said David Taylor, chairman, president and chief executive officer, Procter & Gamble. “Cash generation also remains strong, supporting an increase in our cash productivity target and extending our long track record of dividend increases. Our focus on superiority, productivity and improving P&G’s organization and culture is delivering improved results despite a challenging competitive and macroeconomic environment.”
By category, beauty sales rose 4% on a 3% increase in volume; grooming sales fell 8%, due in part, to a 3% decline in volume; health care sales jumped 9% on a 7% increase in volume; fabric and home care sales rose 2% on a 5% increase in volume; but baby, feminine and family care sales fell 2% on flat volume.
