| As of Monday, November 23rd: |
LATEST EARNINGS RESULTS
- Obama says Boosting US Jobs is Top Priority
- More Consumers Giving 'Black Friday' the Cold Shoulder
- Prepare For Large Decline In Stocks, Next Year?
- Hewlett-Packard Earnings Rise, Match Guidance
- HP Comes in As Expected; Is It Time to Buy?
- Cramer: What Monday’s Housing Number Really Means
- Why the Dollar Will Likely Stay Weak for Some Time
- Bear, Lehman Execs Weren't Wiped Out by Crisis: Study
- How Real Estate Investors Skew Housing's Reality
- Can Murdoch Help Bing Challenge Google and Shift the Content Equation?
- HP's Mark Hurd
- HP Comes in As Expected; Is It Time to Buy?
- 9 Stocks That Play Rising Water Costs: Strategists
- Weis' Deal Likely Won't Change Big Money Contracts
- Gold Prices Can Double in 3 Years: Portfolio Manager
- Nov. 23: Unusual Volume Leaders
- Help Wanted—Please Run $4 Billion University
- Apple Comes to AT&T's Rescue
MOST SHARED
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed
- Why Amazon Rules Retail
- Wave of Debt Payments Facing US Government
- HP Comes in As Expected; Is It Time to Buy?
- JAL Slides to Record Low on Bankruptcy Jitters
- Prepare For Large Decline In Stocks, Next Year?
- Paul: Audit the Fed
- Hewlett-Packard Profit Rises, Matches Guidance
- Holiday Travel Outlook
- The Social Media Gaming Threat
Text Size 
Procter & Gamble is still seeing some gains despite a decline in consumer sentiment, according to the new chief financial officer of the company.
“We grew organically – two percent – importantly maintaining or growing organic sales at each of our six operating segments," said Jon Moeller in a Friday interview on CNBC. (See his full comments in the video)
Nevertheless, the decline in demand is taking a toll.
Procter & Gamble [PG
Loading...
()
] earned $1.58 a share in the second quarter of 2008, versus December guidance of $1.58 to 1.63. Full year 2009 guidance of $4.20 to $4.35 was slightly below prior guidance of $4.28-4.38 and about in-line with analyst expectations of $4.29. (Read more about its earnings here).
“We’re operating – and it’s no surprise to anybody – in a very difficult operating environment, with all-time lows in consumer confidence, credit market issues that are causing reductions in trade inventories, commodities still up significantly versus year-ago levels and foreign exchange headwinds,” he said.
He noted that despite recent price drops in some "highly visible" commodities like oil, which P&G doesn't directly purchase, other areas remain high.
"If you were to look at a representative market basket of commodities that we do purchase, those commodities are up still year-over-year over 20% ... at this point we're not seeing a need for broad scale price reduction," he said.
Moeller said in this economic environment, innovation is key.
“For consumers it’s all about value; innovation creates value, so we’re very focused on maintaining investments in both brand building and innovation.”
More news from CNBC.com:
- Consumer Confidence Rises, But Less Than Expected
- Honeywell Posts In-Line Profit, Keeps Outlook
- Is it Time to Can Wall Street Bonuses?
Print
Email
- Analog Devices Results Beat Expectations; Shares Rise
Analog Devices reported a quarterly profit that fell from a year ago but topped Wall Street's expectations, sending shares higher in extended trading.
- Tyson Food Profit Beats Estimates
Tyson Foods posted higher-than-expected quarterly results on Monday on strength in its beef, pork and prepared foods businesses, which it expects to continue in its new fiscal year.
- Horton Results Miss Estimates, Shares Drop
D.R. Horton, the No. 2 U.S. homebuilder, reported a much larger-than-expected quarterly loss on Friday, sending its shares down nearly 7 percent even though it also said orders increased.
- Analog Devices Results Beat Expectations; Shares Rise
- Dell Shares Smacked as Earnings, Sales Miss Forecasts
The computer maker reported financial results that were worse than last year and also fell short of Wall Street expectations, punishing the company's shares.
- Dell Shares Smacked as Earnings, Sales Miss Forecasts
- Gap Reports Earnings in Line With Forecasts
- Intuit Posts Narrower-Than-Expected Loss
- Sears Posts Second Consecutive Quarterly Loss
- BJ's Wholesale Profit Falls, Hurt by Falling Food Prices
- Salesforce Profit Beats Forecasts, but Shares Fall
- Autodesk Shares Fall on Disappointing Outlook
- Home Depot Profit Beats; Says Markets Under Pressure
- Target Third Quarter Profit Up, Cautious on Fourth
- Weak US Housing Market Drags on Lowe's Profit
- JC Penney Profit Falls, but Shares Up on Forecast
- Disney Profit, Sales Top Forecasts; Shares Jump
- Nordstrom Earnings Miss Forecasts; Shares Take Hit
- Wal-Mart Holiday Forecast Light, Profit Beats
- Kohl's Profit Beats Street, But Outlook Falls Short
- Vivendi Profit Up More Than 5%, Keeps 2009 Goals
Data is a real-time snapshot *Data is delayed at least 15 minutes