Prolific quarter for Procter & Gamble

By: Miguel A. Rodriguez

17:20, 20 January 2022

The consumer goods corporation reported fiscal Q2 2022 earnings figures that topped estimates

Procter & Gamble (P&G) revealed an EPS of $1.66 slightly higher than the $1.65 expected for the quarter ended in December. Net sales rose 6% to $20.95 billion, surpassing the $20.34 billion forecasted. At the same time, organic revenue also rose 6%. Approximately half of the growth was due to the rising prices of various products.

According to the company's executives, more price increases are underway, and retailers have already discussed the matter. Some additions are to take effect on February 28 and mid-April.

For the ongoing fiscal year, P&G revised its sales growth forecast of 4% - 5% from a previous range of 2% - 4% upwards. It also plans to boost the buyback program from last year's high of $9 billion to as much as $10 billion. P&G didn't change the forecast for earnings, confirming that it sees core figures growing 3%-6% from $5.66 per share reported in 2021.

After the news hit the wires, P&G's share price traded 4.25% higher at $163.50 apiece, pushing its six-month gain to 17%.


Share this article

The information presented herein is prepared by and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.                                                                                                                            Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience, or current financial situation.Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance and forecasts are not reliable indicators of future results.