The Procter & Gamble Co.'s fiscal first-quarter adjusted EPS and net income beat analyst expectations Oct. 19 as the company held its growth forecasts for fiscal 2019 steady.
Core, or adjusted, EPS of $1.12 surpassed the S&P Global Market Intelligence mean consensus estimate for normalized EPS of $1.09. Core net earnings attributable to P&G of $2.92 billion beat the consensus estimate for net income excluding exceptions of $2.85 billion compiled by S&P Global Market Intelligence.
For its 2019 fiscal year, Procter & Gamble maintained its outlook for organic sales growth across the entire company of between 2% and 3%. Its forecast for core EPS growth of between 3% and 8% over its 2018 fiscal year also remained the same. Nonorganic all-in sales growth for the year is expected in a range between down 2% to in-line with 2018, down from the company's previous range between in-line and up 1%.
Net sales for the quarter of $16.69 billion matched those the company reported for the same quarter a year ago.
Organic sales rose in four of five product categories. The company's beauty division notched the fastest increase at 7%, followed by the Grooming and Health Care segments, which each posted a 4% advance.
Shares of the Cincinnati-based consumer goods giant rose 2.8% to $82.50 in premarket trading. The company reported first-quarter results before the market opened Oct. 19.