Procter & Gamble Q1 Results Top Estimates; Backs FY22 Outlook - Quick Facts

While reporting financial results for the first quarter on Tuesday, consumer goods giant Procter & Gamble Co. (PG) maintained its full-year 2022 guidance for core earnings per share growth, organic sales growth and all-in sales growth for the year.

For fiscal 2022, the company continues to expect core earnings per share growth in the range of 3 to 6 percent from the base fiscal 2021 core earnings of $5.66 per share. This implies core earnings in a range of $5.83 to $6.0 per share.

The company also still projects full year all-in sales growth and organic sales growth in the range of 2 to 4 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.94 per share on sales growth of 3.70 percent to $78.96 billion for the year. Analysts' estimates typically exclude special items.

Additionally, P&G said it still expects to pay over $8 billion in dividends and repurchase $7 billion to $9 billion of common shares in fiscal 2022.

For the first quarter, the company reported that net earnings and Core earnings per share edged down 1 percent to $1.61 from $1.63 last year. Currency-neutral core earnings per share decreased 3 percent for the quarter.

Net sales for the quarter grew 5 percent to $20.3 billion from a year ago. Excluding the impacts of foreign exchange, acquisitions and divestitures, organic sales increased 4 percent.

Analysts expected the company to report earnings of $1.59 per share on sales of $19.91 billion for the quarter.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Meta Platforms Inc., the parent of Facebook, Instagram, and WhatsApp, said it is launching more options on WhatsApp to control their messages and how long they stick around, with default disappearing messages and multiple durations. The latest features are expected to bring more control and privacy on the popular messaging app. Delivery services company DoorDash has introduced ultra-fast grocery deliveries with DashMart in Chelsea, New York City. The company said it aims to deliver in 10-15 minutes and plans to expand its new service in select DoorDash grocery and convenience partners over the next year. With over 2,000 items, DashMart offers a wide assortment of fresh and frozen grocery staples, snacks, household goods, and local products. Ontario, Canada-based Erie Meat Products Ltd. is recalling approximately 1,224 pounds of fully cooked chicken bologna products, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The chicken bologna products were imported and distributed into the United States without the benefit of FSIS import reinspection.
Follow RTT