Procter & Gamble Exceeds Quarterly Estimates Driven by Home Care Demand
Procter & Gamble (PG) reported fiscal first-quarter results that surpassed Wall Street expectations for both earnings and revenue. The company achieved adjusted earnings per share of $2.00 against an expected $1.88, while net sales rose 4% to reach $23.3 billion, driven largely by strong demand in the laundry and home care sectors. Following the acquisition of vitamin company Thorne, which closed on October 1, P&G updated its full-year sales growth forecast to a range of 2% to 4%, up from the previous outlook of 1% to 3%. Despite a slight year-over-year decrease in net income attributable to the company, shares rose 2% in premarket trading following the positive results.
Tickers: $PG
Topics: acquisition earnings beat revenue growth sales forecast
Part of the story Procter & Gamble Exceeds Quarterly Estimates Driven by Home Care Demand (2 articles)