One of probably the most well-known names within the shopper merchandise world – Procter & Gamb
One of probably the most well-known names within the shopper merchandise world – Procter & Gamble PG – gave traders candy surprises on October 22, 2019 by beating the Zacks Consensus Estimate for each earnings and gross sales in first-quarter fiscal 2020. As well as, the corporate’s raised steering for fiscal 2020 additionally added to the upbeat tone. The inventory gained 2.6% in the important thing buying and selling session.
This constructive information got here at a time when half of the buyer staples ETFs returned greater than the S&P 500 index within the one-year time-frame (as of Oct 22, 2019) and three out of 14 staples ETFs carrying a Zacks Rank #1 (Robust Purchase) and most having a Zacks Rank #3 (Maintain).
Let’s delve a little bit deeper and see if PG’s sturdy numbers can do additional good to the sector.
Procter & Gamble’s 1Q20 Earnings in Focus
Procter & Gamble’s core earnings of $1.37 per share improved 22% 12 months over 12 months and outpaced the Zacks Consensus Estimate of $1.24. In the meantime, currency-neutral core earnings per share (EPS) grew 24%. Procter & Gamble reported web gross sales of $17,798 million, beating the…