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Procter & Gamble Co (NYSE:PG, ETR:PRG) posted a mixed bag of fiscal 3Q earnings, with sales disappointing Street expectations as volumes in key segments declined. However, the company did raise its profit outlook as higher prices helped fuel confidence in its bottom line.
Procter & Gamble (PG) came out with quarterly earnings of $1.52 per share, beating the Zacks Consensus Estimate of $1.42 per share. This compares to earnings of $1.37 per share a year ago.
Procter & Gamble (PG) reported third-quarter earnings Friday that beat estimates, though its revenue missed expectations, sending shares 1% lower in pre-market trading.
The consumer product goods company raises fiscal-year earnings guidance.
Procter & Gamble (NYSE:PG) announced their 2024 third quarter results today on April 19th. The company managed a marginal increase in its net sales – a 1% increase of $20.2 billion.
Procter & Gamble raises earnings forecast but quarterly sales disappoint
Shares of Procter & Gamble Co. PG, +0.86% slipped 0.5% in premarket trading Friday, after the consumer packaged-goods company reported fiscal third-quarter profit that rose above expectations and lifted its full-year outlook, but came up shy on revenue. Net income for the quarter to March 31 rose to $3.75 billion, or $1.52 a share, from $3.40 billion, or $1.37 a share, in the same period a year ago.
At 7%, this year's dividend boost is one of the biggest in years. P&G shareholders are bracing for slower sales growth ahead.
While Procter & Gamble (PG) is expected to continue to report higher revenue when it releases quarterly earnings on Friday, analysts are anticipating that the consumer products maker will slow its price increases.
Cincinnati-based manufacturing giant Proctor & Gamble Co (NYSE:PG) is slated to step into the earnings confessional before the open on Friday, April 19.