P&G Earnings Sink 16% in Quarter

April 27, 2012
Hower CEO Bob McDonald said the company is making 'good progress' on efforts to boost productivity and cost savings.

Procter and Gamble (IW100/33) on April 27 posted a sharp decline in earnings for its third fiscal quarter, citing a "difficult economic and competitive environment."

P&G, which owns some of the best known brands in the world such as Gillette, Tide laundry detergent and Charmin tissues, said net profit fell 16% from the year-ago quarter to $2.4 billion despite a two percent rise in sales.

Earnings per share were also down by 16% to 85 cents.

But chief executive Bob McDonald said the company is making "good progress" on efforts to boost productivity and cost savings.

"Looking ahead, we expect further acceleration in core operating profit growth in the fourth quarter driven by top-line growth, more favorable cost comparisons and productivity improvements."

Copyright Agence France-Presse, 2012

See Also
P&G Expands Louisiana Plant to Produce New Product

Popular Sponsored Recommendations

Gain a competitive edge with real-world lessons on private 5G networks

Nov. 16, 2023
The use of private networks in manufacturing applications is rapidly growing. In this paper, we present valuable insights and lessons learned from the field with the goal of enhancing...

Powering Up Productivity: The Transformative Power of AP Automation in Manufacturing

Oct. 25, 2023
Discover how AP Automation is revolutionizing the manufacturing industry, driving efficiency, cost savings, and security. In today's world, automation is the key to staying competitive...

Five Ways Aerospace and Defense MRO Can Prepare for the New Normal!

Dec. 6, 2023
The right tools can help A&D suppliers track the essentials & ultimately, boost their margins. Advanced analytics can also help determine the profitability of contracts, drive...

Beat the odds. Optimize product costs. Mitigate supply chain issues.

Sept. 12, 2023
Leverage fact-based supplier negotiations. Enhance design. Get to market faster. Our comprehensive Should Cost Analysis guide shows you how.

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!