P&G Earnings Met Expectations. Why the Stock Is Falling. | PG Message Board Posts


Procter and Gamble Co.

  PG website

PG   /  Message Board  /  Read Message

 

 






Keyword
Subject
Between
and
Rec'd By
Authored By
Minimum Recs
  
Previous Message  Next Message    Post Message    Post a Reply return to message boardtop of board
Msg  171 of 180  at  1/19/2023 12:28:55 PM  by

jerrykrause


P&G Earnings Met Expectations. Why the Stock Is Falling.

P&G Earnings Met Expectations. Why the Stock Is Falling.
 

Procter & Gamble shares were sliding Thursday after the consumer goods giant posted second-quarter earnings that matched analysts' expectations, while gross margins declined largely due to higher costs.

The consumer goods giant posted net sales of $20.8 billion and diluted earnings of $1.59 per share, while analysts anticipated $20.7 billion and $1.59 per share, according to FactSet.

Gross margins fell 160 basis points year over year.

In an earnings preview research note Wednesday, RBC analyst Nik Modi wrote that "things are tough but manageable" for P&G (ticker: PG), and he expected organic sales growth to align with forecasts.

Second-quarter organic sales rose 5% year over year, beating Wall Street's forecast of 4.7%. The uptick was mainly driven by higher prices, but offset by a slide in shipment volumes. Within P&G's product segments organic sales increased in: beauty; health care; fabric and home care; and baby, feminine and family care. The grooming segment stayed flat.

more earnings news

P&G also raised its fiscal year 2023 organic sales growth outlook to between 4% and 5%, compared with a previous range of 3% to 5%. It maintained its earnings outlook.

"We delivered solid results in the second quarter of fiscal year 2023 in what continues to be a very difficult cost and operating environment," said Jon Moeller, P&G's chief executive, in the earnings release.

P&G shares fell 3.7% to $141.00 in premarket trading Thursday.

 


     e-mail to a friend      printer-friendly     add to library      
|  
Recs: 0  
   Views: 0 []
Previous Message  Next Message    Post Message    Post a Reply return to message boardtop of board




Financial Market Data provided by
.
Loading...