P&G Delivers Double-Digit Currency-Neutral Core Earnings Per Share Growth in First Quarter Fiscal 2016

First Quarter Core EPS $0.98, Currency-Neutral Core EPS +12%; Core Operating Profit Margin up 270 basis points
Friday, October 23, 2015 2:27 pm BST

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Today, Friday 23 October 2015, P&G issued the following press release:  The Procter & Gamble Company (NYSE:PG) reported first quarter fiscal year 2016 currency-neutral Core earnings per share growth of 12% versus the prior year. Core earnings per share were $0.98, a decrease of one percent. Diluted net earnings per share were $0.91, an increase of 32%. Net sales were $16.5 billion, a decrease of 12% versus the prior year due primarily to significant foreign exchange impacts. Organic sales decreased one percent. Core operating profit margin increased 270 basis points with improvement in gross margin and SG&A costs.

Operating cash flow was $3.5 billion for the quarter. Adjusted free cash flow productivity was 101%. The Company repurchased $0.5 billion of common stock and returned $1.9 billion of cash to shareholders as dividends.

“We delivered strong first quarter operating profit margin and free cash flow results,” said Chairman, President, and Chief Executive Officer A.G. Lafley. “Top-line results were soft, as expected, given significant foreign exchange impacts, our deliberate choices to exit unprofitable businesses and the early stage of the improvement plans we’re implementing in our largest categories and markets. We continue to make strong progress on productivity savings, which will fuel smart investments in top-line growth. We expect second quarter organic sales growth to be positive and to further strengthen in the back half as we invest to build awareness and trial of our consumer-preferred products and brands.”

Follow this link for the full press release

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