Procter & Gamble Co. (NYSE: PG), which today reported better-than-expected fiscal third quarter quarter results, owes no small part of its success to Tide detergent. It's easy to see why.
Like many consumers, I am a loyal Tide user. In my unscientific opinion, it's orders of magnitude better than other brands. Plus, the Cincinnati-based company continues to amaze me with how many variations of this stuff it can dream up. My laundry room now has Mountain Spring Tide. That's sounds great, even though I am not quite sure that that means since it's been years since I've smelled an actual mountain spring.
Luckily for Procter & Gamble shareholders, there are plenty of Tide devotees like me. Net income in the quarter that ended in March rose to $2.51 billion, or 74 cents a share, compared with $2.21 billion, or 63 cents, a year earlier. Sales rose 8.4% to $18.69 billion. Analysts had expected profit of 74 cents on revenue of $18.56 billion, according to Thomson Financial
Procter & Gamble also raised its guidance for the year from $3.01 to $3.03 per share compared with $2.99 to $3.03. Analysts are forecasting profit of $3.03. Sales are expected to rise 11 % to 12% this year and 5% on an organic basis.
That's quite a bit of Tide.
Still, I guess investors were expecting better. Shares of the company are trading down in pre-market trading. Maybe the company needs to work harder to come up with even more variations.
How early summer morning?
Better yet, why don't you send me your ideas for new Tides and I'll forward them to the company.
Reader Comments (Page 1 of 1)
5-01-2007 @ 10:42AM
jjmdbsfla said...
Thanks to the blockheads on "The Street"! This magnificent company/investment trades for less despite recording a record quarter. Today I am buying 10000 shares on which I will make at least $10,000 in a day or two.
5-01-2007 @ 2:30PM
e.f. mcginley said...
Idea for TIDE name (Brand);
"Breath of Fresh Air"
Edward F.
5-02-2007 @ 8:03AM
Irv Kempner said...
I think that PG is the company that analyst love to hate unfairly as is evidenced by the sell off after respectable on target sales and earnings.
PG should consider a share buy back to demonstrate its faith in itself to the street. The stocks performance has lagged well below the DOW and the performance of its competition CL and ENR in 2007.
5-04-2007 @ 6:00PM
Bobby Dee said...
"Today I am buying 10000 shares on which I will make at least $10,000 in a day or two."
How has that worked out for you?
5-08-2007 @ 11:15PM
Newsboi said...
My family has owned P & G stock for years and it has never let us down. Through good times and bad it has always come through-just like TIDE