Procter & Gamble To Record a Charge, Restate Battery Earnings After Duracell Sale

Procter & Gamble said on Thursday that it will record a non-cash charge of about 28 cents a share in the current quarter, following its agreement to sell its Duracell battery business to Berkshire Hathaway . The consumer products company added that it will restate its earnings per share from its batteries business to range of 12 cents to 14 cents to discontinued operations for fiscal 2014. Separately, P&G said it still expects fiscal 2015 net sales to be in line, or rise in the low single-digit percentage range from a year ago. And while the company still expects earnings per share to grow in the mid-single digit percentage range, the negative impact of currency moves means actual results could be at the low end of that range. P&G's stock, a component of the Dow industrials, eased 0.1% in premarket trade.

Copyright © 2014 MarketWatch, Inc.