Procter & Gamble announced its quarterly results, showcasing a blend of successes and challenges in attracting customers back after implementing price increases on products like Tide detergent and Charmin toilet paper for the past two years.
Although the company’s prices rose by 3% compared to the previous year, CFO Andre Schulten clarified that there were no nationwide price hikes during the quarter.
Despite facing some sales setbacks, the consumer giant revised its full-year earnings growth forecast upwards.
In premarket trading, the company’s shares experienced a decline of over 2%.
Here are the key figures reported by P&G compared to the expectations of Wall Street analysts surveyed by LSEG:
Earnings per share: $1.52 vs. expected $1.41Revenue: $20.2 billion vs. expected $20.41 billion
P&G disclosed a net income of $3.75 billion for the fiscal third quarter, translating to $1.52 per share, an improvement from $3.4 billion, or $1.37 per share, in the previous year.
Net sales increased by 1% to reach $20.2 billion. Organic sales, which exclude…
2024-04-19 08:51:35
Originally published on www.cnbc.com