P&G on Friday reported quarterly earnings and revenue that beat analysts’ expectations.
But the company released a gloomy outlook for its fiscal 2024 sales that fell short of Wall Street’s estimates.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
Earnings per share: $1.37 vs. $1.32 expected
Revenue: $20.55 billion vs. $19.98 billion expected
The Tide detergent owner reported fiscal fourth-quarter net income of $3.38 billion, or $1.37 per share, up from $3.05 billion, or $1.21 per share, a year earlier.
Net sales rose 5% to $20.55 billion.
For fiscal 2024, P&G is forecasting that its revenue will grow 3% to 4%, lower than Wall Street’s expectations of 4.5% sales growth. The company is also projecting earnings per share growth of 6% to 9%, which is on the lower end of analysts’ forecast of 8.8%.
Leave a Reply