Procter & Gamble (PG) Tops Q2 EPS by 13c, Revenues Beat; Raises FY21 EPS, Sales, Cash Return, Share Buyback Outlook
Procter & Gamble (PG) Tops Q2 EPS by 13c, Revenues Beat; Raises FY21 EPS, Sales, Cash Return, Share Buyback Outlook
Procter & Gamble (NYSE: PG) reported Q2 EPS of $1.64, $0.13 better than the analyst estimate of $1.51. Revenue for the quarter came in at $19.7 billion versus the consensus estimate of $19.27 billion.Net Sales +8%; Organic Sales +8%;Diluted Net EPS $1.47, +4% vs. prior year; Core EPS $1.64, +15% vs. prior yearRAISES SALES, EARNINGS, ADJUSTED FREE CASH FLOW PRODUCTIVITY AND CASH RETURN GUIDANCE
寶潔公司(紐約證券交易所代碼：PG)公佈第二季度每股收益為1.64美元，比分析師預期的1.51美元高出0.13美元。該季度的收入為197億美元，高於普遍預期的192.7億美元。淨銷售額增長8%；有機銷售額增長8%；稀釋淨每股收益1.47美元，同比增長4%；核心每股收益1.64美元，同比增長15%RAISES銷售、收益、調整後的自由現金流生產率和現金回報指引
“We delivered another strong quarter of results across all key measures – top line, bottom line and cash,” said David Taylor, Chairman, President and Chief Executive Officer. “We remain focused on executing our strategies of superiority, productivity, constructive disruption and improving P&G’s organization and culture. These strategies enabled us to build strong business momentum before the COVID crisis, accelerated our progress in calendar year 2020 and remain the right strategies to deliver balanced growth and value creation over the long term.”
董事長、總裁兼首席執行官戴維·泰勒説：“我們在所有關鍵指標--營收、利潤和現金--上又實現了強勁的季度業績。”我們仍然專注於執行我們的優勢戰略、生產力戰略、建設性的顛覆戰略以及改進寶潔的組織和文化。這些戰略使我們能夠在COVID危機之前建立起強勁的業務勢頭，加快了我們在2020年曆年的進展，並仍然是實現長期平衡增長和價值創造的正確戰略。“
Fiscal Year 2021 Guidance
2021財年指導
P&G raised its outlook for fiscal 2021 all-in sales growth from a range of three to four percent to a range of five to six percent versus the prior fiscal year. The Company raised its outlook for organic sales growth from a range of four to five percent to a range of five to six percent. Foreign exchange is now expected to be roughly neutral to sales growth for the fiscal year.
寶潔將2021財年整體銷售額同比增長預期從3%至4%上調至5%至6%。該公司將有機銷售增長預期從4%至5%上調至5%至6%。目前預計外匯對本財年的銷售增長大致為中性。
The Company said it now expects fiscal 2021 GAAP diluted net earnings per share growth in the range of eight to ten percent versus fiscal 2020 GAAP EPS of $4.96. GAAP EPS guidance includes non-core charges for early debt retirement of $0.16 per share in fiscal 2021. P&G raised guidance for core earnings per share growth from a range of five to eight percent to a range of eight to ten percent versus fiscal 2020 core EPS of $5.12. The Company said its current outlook includes headwinds of approximately $100 million after-tax from foreign exchange impacts and $100 million after-tax from higher freight costs. The outlook also includes an estimated $150 million after tax headwind for the combined impacts of higher interest expense and lower interest income. The Company now expects commodity cost impact to be neutral versus the previous fiscal year.
該公司表示，目前預計2021財年GAAP稀釋後每股淨收益將增長8%至10%，而2020財年GAAP每股收益為4.96美元。GAAP每股收益指引包括2021財年提前償還債務的非核心費用，每股0.16美元。寶潔將每股核心收益增長指引從5%至8%上調至8%至10%，而2020財年核心每股收益為5.12美元。該公司表示，其目前的前景包括大約1億美元的税後外匯影響和1億美元的税後運費上升的逆風。前景還包括估計1.5億美元的税後逆風，因為更高的利息支出和更低的利息收入的綜合影響。該公司現在預計，與上一財年相比，大宗商品成本的影響將是中性的。
The Company is not able to reconcile its forward-looking non-GAAP cash flow measure without unreasonable efforts because the Company cannot predict the timing and amounts of discrete cash items, such as acquisitions, divestitures, or impairments, which could significantly impact GAAP results. The Company now estimates fiscal 2021 adjusted free cash flow productivity to be in the range of 95% to 100%.
由於公司無法預測可能對GAAP結果產生重大影響的離散現金項目(如收購、資產剝離或減值)的時間和金額，公司無法在沒有合理努力的情況下調整其前瞻性非GAAP現金流量衡量標準。該公司現在估計，2021財年調整後的自由現金流生產率將在95%至100%之間。
P&G expects to pay approximately $8 billion in dividends in fiscal 2021. The Company increased its outlook for common stock repurchase from a range of $7 billion to $9 billion to up to $10 billion in fiscal 2021. Combined, P&G now plans to return around $18 billion of cash to shareowners in this fiscal year.
寶潔預計2021財年將支付約80億美元的股息。該公司將2021財年普通股回購預期從70億至90億美元上調至100億美元。加在一起，寶潔現在計劃在本財年向股東返還約180億美元的現金。
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