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P&G guidance

This article was originally published in The Tan Sheet

Executive Summary

Procter & Gamble has upgraded its sales and EPS guidance for the second quarter of fiscal year 2006 due to strong sales and lower-than-expected costs for the Gillette acquisition, the firm states in a release Dec. 13. The company projects 25%-26% sales growth for the quarter, in the upper range of its previous estimates. EPS guidance has also moved to the upper margin of previous estimates to $0.68-$0.69, the Cincinnati-based firm reports. P&G estimates that its recently acquired Gillette business will dilute second-quarter earnings by $.08-$.10 per share rather than the previously forecasted $.09-.$12 per share. Additionally, Gillette turned out a strong performance in the second quarter with sales increasing 17% versus the previously estimated "flat to low-single digit sales growth," P&G states. The firm's $57 bil. purchase of Gillette closed in October...





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