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Procter & Gamble Q2 Results Top Estimates; Boosts FY22 Sales Outlook - Quick Facts

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

Meanwhile, the company now projects all-in sales growth of 3 to 4 percent and organic sales growth of 4 to 5 percent. Previously, the company expected all-in sales growth of 2 to 4 percent and organic sales growth of 2 to 4 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.91 per share on sales growth of 4.0 percent to $79.15 billion for the year. Analysts' estimates typically exclude special items.

Additionally, P&G said it now expects to pay over $8 billion in dividends and repurchase $9 billion to $10 billion of common shares in fiscal 2022.

For the second quarter, the company reported that net earnings attributable to the company increased to $4.22 billion or $1.65 per share from $3.85 billion or $1.47 per share in the prior-year quarter. Core earnings per share edged up 1 percent to $1.66 from $1.64 last year.

Net sales for the quarter grew 6 percent to $20.95 billion from a year ago. Excluding the impacts of foreign exchange, acquisitions and divestitures, organic sales also increased 6 percent.

Analysts expected the company to report earnings of $1.65 per share on sales of $20.34 billion for the quarter.

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