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:
Tuesday 4/15 Insider Buying Report: LTS
Tuesday 4/15 Insider Buying Report: FLXS, AA
Monday 4/14 Insider Buying Report: PRSC, KFS
S&P 500 Movers: NEM, TRIP
Nasdaq 100 Movers: BIDU, TRIP
Dow Movers: WMT, KO
S&P 500 Analyst Moves: TWX
Dow Analyst Moves: V
S&P 500 Analyst Moves: A
Tuesday Sector Leaders: Electric Utilities, Oil & Gas Exploration & Production Stocks
Tuesday Sector Laggards: Biotechnology, Drugs
Monday Sector Leaders: Precious Metals, Oil & Gas Exploration & Production Stocks
Tuesday's ETF with Unusual Volume: REZ
Tuesday's ETF Movers: FCG, GDXJ
SPY, FMK: Big ETF Outflows
Daily Dividend Report: CPG, WHR, VET, SE, NNN
Daily Dividend Report: AON, SJM, UNM, CMS
Daily Dividend Report: WY, FAST, RRD, ADX, PGH
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: April 11, 2014
Weekly Market Wrap: April 4, 2014
Weekly Market Wrap: March 28, 2014
Week Ahead Market Report: April 14, 2014
Week Ahead Market Report: April 7, 2014
Week Ahead Market Report: March 31, 2014