Procter & Gamble (P&G), the Cincinnati-based consumer-products powerhouse, reported its fiscal second-quarter earnings, exceeding Wall Street's projections and raising its full-year profit forecast. The company's adjusted earnings stood at $1.84 per share for the period ending December 31, up from $1.59 per share a year ago. This surpasses the average analyst expectation of $1.70 per share according to FactSet.
P&G recorded a 3% increase in sales, reaching $21.44 billion, slightly below Wall Street's estimate of $21.48 billion. However, when considering organic sales growth, which excludes foreign exchange fluctuations, acquisitions, and divestitures, the company achieved a notable 4% increase.
Looking ahead to fiscal 2024, P&G updated its adjusted per-share earnings growth forecast to be within the range of 8%-9%. This corresponds to an anticipated earnings per share range of $6.37 to $6.43, compared to the previous growth forecast of 6% to 9%. Analysts are currently projecting a full-year adjusted profit of $6.41 per share.
P&G also maintained its outlook for full-year sales growth, expecting a range of 2% to 4%, as well as organic sales growth between 4% and 5%.
The positive performance of P&G demonstrates its continued strength in the consumer-products market, exceeding expectations and showcasing its ability to deliver consistent growth.
Primark Expects Strong Performance for Fiscal 2024
U.K. Stocks Experience Marginal Decline
Our Latest News
Tensions Flare on Capitol Hill as Government Shutdown Looms
Republican lawmakers clash in intense incidents on Capitol Hill as a potential government shutdown draws near. Hearings, accusations, and ongoing negotiations a...
Remembering Charlie Munger
Advisors reflect on the qualities that made Charlie Munger highly respected, including his investing wisdom and dry wit. Categories: Investing, Finance, Wisdom....
China Expands Measures to Boost Consumption
China's National Development and Reform Commission (NDRC) is implementing measures to stimulate consumption and revive the economy, including promoting electric...