Procter & Gamble Co. (NYSE: PG) published its earnings report for the fiscal third quarter on Tuesday that topped analysts’ estimates for earnings and revenue. The company also expressed plans of a price hike that will affect some of its product categories.
Procter & Gamble shares were reported less than 0.5% down in premarket trading on Tuesday. The stock is currently trading at £97.46 per share versus a year-to-date low of £87.54 per share in the first week of March. Here’s what you need to know about how do people make money on the stock market.
Procter & Gamble’s Q1 financial results versus analysts’ estimates
Procter & Gamble said that its net income in the third quarter printed at £2.34 billion that translates to 90 pence per share. In the same quarter last year, its net income was capped at a lower £2.09 billion, or 80 pence per share.
The American multinational reported £12.98 billion of sales in Q3 versus the year-ago figure of £12.33 billion. According to FactSet, experts had forecast the company to post £12.87 billion of sales in the recent quarter. Their estimate for per-share earnings stood at a lower 85 pence.
Other prominent figures in the consumer goods corporations’ financial update on Tuesday include an over 20% annualised growth in grooming appliances sales and a little under 10% increase in oral care sales in the first quarter. In the prior quarter (Q2), P&G had noted an 8% increase in revenue.
Procter & Gamble’s guidance for the full financial year
For the full financial year, Procter & Gamble now anticipated an up to 10% growth in its core per-share earnings. Analysts, on the other hand, are calling for a higher 10.9% increase instead. In separate news from the United States, AutoNation said its earnings jumped to a record high on an adjusted basis in the fiscal first quarter.
P&G also highlighted on Tuesday that rising commodity costs will result in a 5% to under 10% increase in product prices. The price hike that is scheduled for mid-September, it added, will affect feminine care, baby care, and adult incontinence product categories.
Procter & Gamble performed fairly upbeat in the stock market last year with an annual gain of a little under 15%. At the time of writing, the NYSE-listed company is valued at £241 billion and has a price to earnings ratio of 25.82.
The post Procter & Gamble tops analysts’ estimates for earnings and revenue in Q3 appeared first on Invezz.
from USA – Invezz https://ift.tt/3gqlcy3
Wajeeh Khan
Click here to Join RICH DAD SUMMIT online with ROBERT KIYOSAKI - $1 Training for Passive Income: https://bit.ly/RichDadSummitWealthTraining
0 Comments