Reportedly, Procter & Gamble Company (PG) reported mixed quarterly results as the consumer products giant faced rising commodity costs and warned that it expects such headwinds to continue in its fiscal 2023. The Cincinnati-based maker of products including Pampers, Pantene, and Tide reported adjusted earnings per share of $1.21 versus the $1.22 expected. Revenue of $19.52 billion was reported versus $19.4 billion expected.
For the quarter ended June 30, P&G reported a net income of $3.05 billion, in the year-ago period, the Tide maker reported a net income of $2.91 billion, or $1.13 per share. Net sales increased 3% from a year ago, driven by organic sales growth of 9% in both its health care and fabric and home care units, where higher pricing made up for flat and negative volumes.
P&G expects earnings per share to be flat to up 4%, for its fiscal 2023 and expects headwinds of $3.3 billion due to foreign exchange rates, higher commodity costs, and higher freight costs. Sales for the year are expected to be flat to up 2% from a year ago, and organic sales are expected to be up 3% to 5%, pushed by pricing.
The Procter & Gamble Company (PG), a Dow 30 component, supplies branded consumer packaged goods to consumers across the globe. To learn more about Procter & Gamble (PG) and to continue to track its progress please visit the Vista Partners Procter & Gamble Coverage Page.
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
Stay Informed! Stay Competitive! Please join us at Vista Partners to receive our FREE email updates throughout the week and view our exclusive content and research.