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Procter & Gamble Quarterly Earnings Beat Market Estimates- Consumers Continue Buying Pandemic Inspired Cleaning Products

By John F. Heerdink, Jr.

Reportedly, the Procter & Gamble Company (PG) third-quarter earnings exceeded analyst estimates as consumers continue to purchase more cleaning supplies and also bounce back to buying beauty products.

Key Earning Highlights for the quarter ending March 31:

  • Earnings per share of $1.26 were reported versus $1.19 expected.
  • Revenue of $18.1 billion was reported versus $17.9 billion expected.
  • Net income increased to $3.27 billion, or $1.26 per share, up from $2.92 billion, or $1.12 per share, a year earlier.
  • Net sales surged 5% to $18.1 billion, beating expectations of $17.9 billion.
  • Organic revenue rose 4% in the quarter.
  • The company’s fabric and home care segment, which includes Comet cleaning products, witnessed organic sales growth of 7% from a year earlier.
  • The company’s beauty segment also reported organic revenue growth of 7%. Consumers started buying skin-care products, like its premium SK-II brand, again, and Chinese customers led growth in hair-care products.
  • The healthcare business reported organic sales to grow by 3% in the quarter. The growth was mainly driven by the segment’s oral care products, which include Oral B toothbrushes.
  • Baby, feminine, and family care was the only segment that reported declining organic sales, as competition rose.
  • The company’s grooming segment, which includes Gillette and Venus, saw organic sales growth of 4%. Organic sales of shaving appliances rose more than 20%.
  • The company viewed its fiscal 2021 outlook, forecasting sales growth of 5% to 6% and adjusted earnings growth of 8% to 10%.

The company also informed that it will raise prices on some of its products to combat rising commodity costs.

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. 

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(Read Original Story: Procter & Gamble earnings beat as consumers hang on to pandemic cleaning habits; price hikes ahead in CNBC)


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