Procter & Gamble Company (PG) reported quarterly earnings ended March 31 reporting an increase in net sales by 7% to $19.38 billion. Total sales volumes rose 3% despite price increases across most of P&G’s product range. P&G earned $1.33 per share, beating the quarterly expectations of $1.29 per share.
- Sales at the company’s major segment, its fabric, and home care unit, increased by 7%, as consumers stocked up on its surface cleaning products, and detergents during the Omicron wave early in the year.
- Sales at P&G’s health care business, which includes brands like Oral-B and Pepto-Bismol, increased 13% in the third quarter.
- The consumer goods giant, however, warned that higher costs could dent its annual core earnings per share, which it now expects at the low-end of 3% to 6% growth that was predicted in January.
- Increasing commodity and freight costs, as well as a stronger dollar, are expected to dent full-year profit by $3.2 billion, compared to a prior forecast of $2.8 billion.
- The company expects fiscal 2022 sales to increase by 4% to 5%, compared with its prior forecast of a 3% to 4% increase.
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.
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