Consumer Staples

P&G Announces Fiscal Year 2024 Third Quarter Results Net Sales +1%; Organic Sales +3% Diluted EPS and Core EPS $1.52, each +11% MAINTAINS FISCAL YEAR SALES AND CASH RETURN GUIDANCE RAISES EPS GROWTH GUIDANCE CINCINNATI–(BUSINESS WIRE)–April 19, 2024– The Procter & Gamble Company (NYSE:PG) reported third quarter fiscal year 2024 net sales of $20.2 billion, an increase of one percent versus the prior year. Organic sales, which excludes the impacts of foreign exchange and acquisitions and divestitures, increased three percent. Diluted net earnings per share were $1.52, an increase of 11% versus prior year. Operating cash flow was $4.1 billion, and net earnings were $3.8 billion for the quarter. Adjusted free cash flow productivity was 87%, which is calculated as operating cash flow excluding capital spending, as a percentage of net earnings. The Company returned $3.3 billion of cash to shareowners via approximately $2.3 billion of dividend payments and $1

Procter & Gamble (PG) continues to have “strong earnings power,” driven by its innovation and favorable cost trends, BofA Securities said in a Friday note. The company reported fiscal Q3 core earnings per share of $1.52 per diluted share, up from $1.37 a year earlier, and net sales of $20.20 billion, increasing from $20.07. Procter & Gamble also raised its full-year core EPS outlook, while maintaining its sales growth guidance. BofA Securities said the company’s 3% organic sales growth in fiscal Q3 included a negative impact from the expected weak cold and flu season but was still supported by its business segments’ “better-than-modeled” performance during the period. “We see little risk to PG delivering FY guide with only one quarter remaining, implying good line of sight to 4Q organic sales,” the investment firm added. BofA Securities attributed the company’s higher earnings guidance for the year to commodity cost tailwinds and

The following is a summary of the The Procter & Gamble Company (PG) Q3 2024 Earnings Call Transcript: Financial Performance: Procter & Gamble reported Q3 2024 organic sales growth of 3%, with pricing contributing 3 points to the growth. Core earnings per share increased by 11% over the previous year to $1.52. The company’s core gross margin improved by 310 basis points and its operating margin expanded by 90 basis points. Adjusted free cash flow productivity stood at 87%. The company returned approximately $3.3 billion to shareholders through dividends and share repurchases in Q3, totalling over $10 billion in three quarters. Business Progress: Procter & Gamble witnessed organic sales growth in 8 out of 10 product categories, with notable performance in Home Care and Hair Care. The company executed growth across all its geographies and improved business in Greater China despite confronting challenges. P&G increased its dividends by 7%, marking

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our unchanged 12-month target of $175 is 25.5x our FY 25 (Jun.) EPS view of $6.87 (down $0.16; FY 24 EPS up $0.07 to $6.55), a premium to the five-year forward P/E average of 24x. FQ3 EPS of $1.52 (+10.6% Y/Y) beat by $0.11 on revenue of $20.2B (+1% Y/Y), $240M below consensus. Organic growth of 3% decelerated from FQ2’s 4% and is attributable to pricing initiatives. Volumes were flat and improved from FQ2’s -1%. Fabric & Home Care and Baby, Feminine, & Family care organic growth decelerated from FQ2 levels. A 300-bp gross margin advance to 51.2% was offset by a 210-bp SG&A advance, yielding a 90-bp EBIT margin advance to 22.1%. Reflecting performance, PG guides to EPS growth of 1%-2%, attributable to lower FX headwinds