Yesterday, Procter & Gamble (NYSE:PG) provided an update of its outlook for 2014 all-in and core earnings per share growth following recent policy announcements by the Venezuelan government that impact foreign exchange rates applied to various transactions as well as significant exchange rate movements in Argentina and other developing countries.
The Company lowered its guidance for all-in sales and all-in earnings growth to reflect the increased impact from foreign exchange. P&G confirmed its prior outlook for organic sales growth and currency-neutral earnings per share growth.
P&G said it expects to incur one-time charges in the range of $230 million to $280 million after-tax, or $0.08 to $0.10 per share, based on its preliminary assessment of the impact of revaluing certain portions of the local Venezuelan balance sheet at the new exchange rate of 11.4 bolivares fuertes per U.S. dollar.
The Company now expects foreign exchange to reduce sales growth by two percent to three percent, which results in an adjusted guidance range for all-in sales growth of in-line to up two percent versus the prior year. This compares to a prior guidance range of one percent to two percent all-in sales growth.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
Launch related slideshow:
Friday 4/20 Insider Buying Report: VRML, HYB
Thursday 4/19 Insider Buying Report: CRM
Nasdaq 100 Movers: JD, EBAY
S&P 500 Movers: MAT, GE
Dow Movers: AAPL, GE
S&P 500 Analyst Moves: PXD
S&P 500 Analyst Moves: HON
Dow Analyst Moves: MMM
Friday Sector Laggards: Paper & Forest Products, Textiles
Friday Sector Leaders: Shipping, Consumer Services
Thursday Sector Laggards: Cigarettes & Tobacco, General Contractors & Builders
Friday's ETF with Unusual Volume: SEA
Friday's ETF Movers: KRE, XLP
XLF, RUSS: Big ETF Outflows
Daily Dividend Report: V, KMI, MS, BK, SHW
Daily Dividend Report: QCOM, WHR, STBA, PEG, UNM
Daily Dividend Report: NNN, COKE, KNOP, MVC, LGI
Fed Tapers Bond Buying
Nonfarm payroll Employment Up 175,000 in February
Initial Claims Decrease, Productivity 1.8% Annual Rate Increase in Q4
Weekly Market Wrap: August 14, 2015
Weekly Market Wrap: August 7, 2015
Weekly Market Wrap: July 31, 2015
Week Ahead Market Report: June 8, 2015
Week Ahead Market Report: May 18, 2015
Week Ahead Market Report: May 4, 2015