Shares of Procter & Gamble Co. (PG, Financial) gained more than 4% on Wednesday after the company announced second-quarter earnings of $1.25 per share on revenue of $17.44 billion, 0.2% year-over-year growth. The company beat earnings estimates by 2 cents and revenue expectations by $280 million.
By segment, beauty's organic sales rose 8%, grooming organic sales decreased 3%, health care's organic sales grew 5%, fabric and home care's organic sales increased 6% and baby, feminine and family care's organic sales climbed 3% versus a year ago.
Moreover, the gross margin decreased 100 basis points on negative effects from higher non-core restructuring charges.
Looking ahead to 2019, the company increased the high end of its guidance for organic sales growth by 100 basis points to between 2% and 4%.The company maintained its expectation for core earnings per share growth of 3% to 8%.
Shares of Accuray Inc. (ARAY, Financial) gained more than 10% on Wednesday after announcing second-quarter results. The company posted a loss of 5 cents per share on $102.32 million in revenue. The company beat earnings estimates by 3 cents and revenue expectations by $370,000.
"Our 29% gross order growth was driven by the China Ministry of Health's long-awaited issuance of new license quotas for Class A and Class B radiation systems in late October 2018, a sequential rebound in CyberKnife orders, and continued strength in Radixact demand worldwide,” President and CEO Joshua H. Levine said.
The total gross profit declined by $1 million from the prior-year quarter to $38.4 million, or 37.5% of revenue. The product gross margin was 39.5% and the service gross margin was 35.7%.
Adjusted earnings before interest, taxes, depreciation and amortization were $4.1 million, down from $4.8 million in the year-ago quarter.Â
Looking ahead to 2019, the company guided for product revenue growth between 4% and 8% and service revenue growth of 2%. The adjusted EBITDA is projected to be in the range of $23 million to $29 million.
Disclosure:The author holds no positions in any stocks mentioned.
