Procter & Gamble cuts FY14 guidance due to forex, shares -0.8% AH

Citing forex volatility in Venezuela, Argentina, Turkey, and elsewhere, Procter & Gamble (PG) is lowering its FY14 (ends in June) revenue growth guidance range to 0%-2% from a prior 1%-2%, and its core EPS growth guidance range to 3%-5% from 5%-7%. (PR)

Excluding forex, P&G still expects 3%-4% organic revenue growth and 12%-14% core EPS growth in FY14.

P&G also says it expects to incur a $230M-$280M ($0.08-$0.10/share) charge due to the impact of Venezuelan government currency policy changes on the company's local balance sheet.

From other sites
Comments (5)
  • Uain53
    , contributor
    Comments (1808) | Send Message
    Global diversification is a wonderful thiong.
    You get to ammortize the effects of good governance with the bad apples like Venezuela.


    Viva le revolucion!.... or not
    12 Feb 2014, 12:48 AM Reply Like
  • june1234
    , contributor
    Comments (4477) | Send Message
    I can see the P&G CEO at the annual stockholders meeting presenting his companies' guidance with one word Venezuela .
    12 Feb 2014, 03:57 AM Reply Like
  • Moon Kil Woong
    , contributor
    Comments (13557) | Send Message
    P&G Is a wonderfully run company that announces write offs of loses well in advance of other companies that wait until the rest of the market melts down to dump all its bad news and call it dumb luck. There are currency losses for most International businesses, whether or not they want to account for them now or just wait is another matter all together.
    12 Feb 2014, 05:36 AM Reply Like
  • Robert Peck
    , contributor
    Comments (207) | Send Message
    Moon Kil Woong nailed it exactly. It took Colgate-Palmolive a week AFTER PG advised to come up to the plate with a similar report and many others will put it off as long as they can. PG is wonderfully forthright and has great credibility with most informed people in the investment community. It is also very diversified and doing business all over the world and the horrible government in Venezuela is going to hurt the country much more than it hurts PG in the long run.
    18 Feb 2014, 07:16 PM Reply Like
  • Tradevestor
    , contributor
    Comments (5014) | Send Message
    PG looks interesting after this and with an upcoming dividend increase

    28 Feb 2014, 01:49 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs