Procter & Gamble Co's quarterly revenue and adjusted profit beat Wall Stree...
For instance, P&G recently launched a razor called SkinGuard, designed for men with sensitive skin prone to irritation. Gillette’s share of the U.S. men’s razors and blades market slipped to 47.3% in 2018 from 53% the prior year, Euromonitor data showed.
P&G has signaled to analysts for some time that it might write down Gillette, given the market’s issues; the charge is just an accounting expression of what we knew was happening to the business, Bernstein analyst Ali Dibadj said. Excluding items, the company earned $1.10 per share, beating the average analyst estimate of $1.05 as strong demand for SK-II and Olay beauty products drove P&G’s organic sales up 7%. Price hikes contributed 3 percentage points to organic sales growth, a closely-watched metric which excludes items like acquisitions, divestitures and currency effects. All 10 of P&G’s global categories grew organic sales.
“Expectations were creeping higher into the print, but P&G far exceeded even the most optimistic expectations,” Wells Fargo analyst Bonnie Herzog said, adding that P&G’s organic sales growth of 7% was its strongest in 13 years. The company’s net sales rose 3.6% to $17.09 billion in the fourth quarter, beating analysts’ average estimate of $16.86 billion, according to IBES data from Refinitiv.
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