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Sales & Earnings In Brief

This article was originally published in The Tan Sheet

Executive Summary

P&G health care: Soft results in personal health care and lower shipment volume of oral care and feminine care in certain regions following price increases contributed to a 2 percent decline in organic sales of Procter & Gamble's health care division in the third quarter, the firm announces April 30. Net sales for the health care segment fell 12 percent for the period to $3.2 billion. As expected, private-label competition continues to impact Prilosec OTC and the mildest cold and flu season in years impacted personal health care top-line results, P&G Senior VP and Treasurer Teri List said during a same-day earnings call. Oral care volume fell by low single digits primarily due to lower shipments of Crest in developing markets. Net earnings for health care fell 9 percent to $564 million driven primarily by foreign exchange impacts and commodity costs. The firm's net sales declined 8 percent to $18.4 billion for the January-March period, negatively impacted by unfavorable foreign exchange and lower shipment volume. Net earnings fell 4 percent to $2.61 billion

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