Earnings Preview: Procter & Gamble

Procter & Gamble (PG) is expected to report Q1 earnings on Thursday, October 29 before the market open with a conference call scheduled for 8:30 am ET.

Guidance

Analysts are looking for EPS of 97c on revenue of $19.84B. The consensus range is 94c-$1.00 for EPS, and $19.41B-$20.39B for revenue, according to First Call. In mid-September Procter & Gamble confirmed the FY10 and Q1 outlook for organic sales growth it gave when it reported its Q4 results. The company also stated it expects to return to organic sales growth in Q2 compared to prior year levels, following two quarters of declines. The company raised its FY10 EPS view to $3.99-$4.12 from $3.65-$3.80 versus consensus $3.68, and sees net sales flat to up 3%. Procter & Gamble anticipates Q1 EPS 95c-$1.00 and organic sales growth of 0%-(3%). The company also noted it expects Q2 organic sales growth of 1%-4%. Investors should note the company's shares have risen over 11% since early August, and Procter & Gamble has topped analyst estimates in its last two quarters.