Procter & Gamble sees FY19 core EPS growth 3%-8% vs. FY18
The company now estimates fiscal 2019 all-in sales growth in the range of in-line to up one percent versus the prior fiscal year, which includes a negative impact of three to four percentage points from the combination of negative foreign exchange and a modest positive impact from acquisitions and divestitures. P&G previously forecast FY all-in sales growth of down 1% to up 1%. &G increased its guidance for organic sales growth from a range of two to four percent to a solid four percent for fiscal 2019. The company maintained its guidance ranges on the bottom line. On an all-in GAAP basis, diluted net earnings per share are expected to increase seventeen to twenty-four percent versus the prior year. Core earnings per share are expected to increase three to eight percent versus fiscal 2018 Core EPS of $4.22. This outlook includes an estimated $1.4 billion after-tax headwind from foreign exchange and higher commodity and transportation costs. P&G increased its outlook for adjusted free cash flow productivity from over 90% to at least 100% for fiscal 2019. P&G expects to pay over $7 billion in dividends and repurchase approximately $5 billion of common shares in fiscal 2019. EPS and revenue consensus are $4.45 and $67.2B, respectively.