For fiscal 2021, the company now projects currency-neutral adjusted earnings per share growth of about 1 to 2 percent on about flat organic net sales growth.
Previously, the company expected currency-neutral adjusted earnings per share growth of about 1 percent on an organic net sales decline of about 1 percent.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.99 per share on a revenue decline to 1.2 percent to $13.61 billion for the year. Analysts' estimates typically exclude special items.
For the first quarter, the company reported net income attributable to the company of $368 million or $1.07 per share, higher than $347 million or $1.01 per share in the prior-year quarter. Adjusted earnings per share for the quarter were $1.11, compared to $0.99 last year.
Net sales for the quarter grew 5 percent to $3.58 billion from $3.41 billion in the same quarter last year. Organic net sales growth was 4.2 percent.
The Street was looking for earnings of $0.96 per share on revenues of $3.38 billion for the quarter.
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