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Procter & Gamble Raises FY21 Outlook - Quick Facts

While reporting its financial results for the second quarter on Wednesday, consumer goods giant Procter & Gamble Co. (PG) raised its outlook for fiscal 2021 all-in sales growth to a range of 5 to 6 percent from a range of 3 to 4 percent compared to the prior fiscal year. The company's shares are advancing more than 1 percent in pre-market activity.

The company also raised its outlook for full-year organic sales growth to a range of 5 to 6 percent from a range of 4 to 5 percent.

P&G now expects fiscal 2021 reported earnings per share growth in the range of 8 to 10 percent compared to fiscal 2020 earnings per share of $4.96.

P&G also raised its outlook for full-year core earnings per share growth to a range of 8 to 10 percent from the prior range of 5 to 8 percent, versus fiscal 2020 core earnings per share of $5.12.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.59 per share for the year on revenue growth of 5.4 percent to $74.75 billion. Analysts' estimates typically exclude special items.

Additionally, P&G said it expects to pay about $8 billion in dividends in fiscal 2021. The company increased its outlook for common stock repurchase to up to $10 billion from the previous range of $7 billion to $9 billion in fiscal 2021. Combined, P&G now plans to return around $18 billion of cash to shareowners in this fiscal year.

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