P&G Fourth-Quarter Profit Tops Estimates as Lafley Cuts Costs

CINCINNATI, United States — Procter & Gamble Co., the world's largest consumer-products maker, posted fourth-quarter profit that beat analysts' estimates, helped by cost cuts.

Profit was $1 a share, excluding some items, Cincinnati-based P&G said in a statement Thursday. Analysts estimated 95 cents, on average.

Chief Executive Officer A.G. Lafley, who’s stepping down from his second stint at the helm in November, has streamlined operations, reorganized management and cut jobs since retaking the reins just over two years ago. The company also has worked to sell pet-food, battery and cosmetics businesses to focus on core brands like Tide detergent, Pampers diapers and Gillette shaving products.

“They’ve done a pretty good job trying to right-size,” Jack Russo, an analyst at Edward Jones, said in an interview. “The hope is that they can start showing some growth again off this smaller base.”

P&G rose 0.7 percent to to $81.15 at 7 a.m. in New York. The shares had slid 11 percent this year through Wednesday.

By Lauren Coleman-Lochner, Matt Townsend; editors: Nick Turner, Kevin Orland, Molly Schuetz.