Procter & Gamble (PG) Q3 2024 earnings

In this photo illustration, Pantene and Head & Shoulders hair products are displayed on July 28, 2023 in San Anselmo, California. 

Justin Sullivan | Getty Images

Procter & Gamble on Friday reported mixed quarterly results but raised its full-year earnings outlook.

Shares of the company were roughly flat in premarket trading.

Here’s what P&G reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

  • Earnings per share: $1.52 vs. $1.41 expected
  • Revenue: $20.2 billion vs. $20.41 billion expected

P&G reported fiscal third-quarter net income attributable to the company of $3.75 billion, or $1.52 per share, up from $3.4 billion, or $1.37 per share, a year earlier.

Net sales rose 1% to $20.41 billion. Organic sales, which strips out acquisitions, divestitures and foreign currency, increased 3% in the quarter.

But the company’s quarterly volume was flat for the second consecutive quarter. In October, executives said that they anticipated returning to volume growth in fiscal 2024. Three quarters in, the company hasn’t yet lured back the customers it scared away with its price hikes over the last two years.

For the full year, P&G is now expecting core net earnings per share growth of 10% to 11%, up from its prior range of 8% to 9%. The company also raised its projection for unadjusted earnings growth to a range of 1% to 2%, up from its previous forecast of down 1% to flat. P&G maintained its outlook of 2% to 4% sales growth in 2024.

Source link

Denial of responsibility! NewsConcerns is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a Comment