P&G Boosts Fiscal Year Earnings Guidance as 3Q EPS Tops Street Views
By Colin Kellaher
Procter & Gamble on Friday posted fiscal third-quarter earnings that handily surpassed Wall Street's expectations and raised its full-year profit guidance.
The Cincinnati consumer-products giant reported earnings of $1.52 a share for the quarter ended March 31, up from $1.37 a share a year earlier and topping the $1.42 a share that analysts polled by FactSet, on average, were expecting.
Sales edged up 1% to $20.2 billion, shy of the $20.4 billion Wall Street had penciled in, while organic sales, which exclude the impacts of foreign exchange, acquisitions and divestitures, rose 3%, boosted by higher pricing.
P&G said it now expects fiscal 2024 adjusted per-share earnings growth of 10%-11%, up from a prior growth forecast of 8% to 9%. The company maintained its forecast for full-year sales growth of 2% to 4% and organic sales growth of 4% to 5%.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
April 19, 2024 07:10 ET (11:10 GMT)
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