PG

Understanding customers must be everyone’s responsibility in a company,” R. Alexandra Keith, Chief Executive at Procter & Gamble Beauty, says at the Shoptalk Europe conference in Barcelona. “Our core brands need to serve all and each consumers,” she says. When new consumer needs or desires emerge, the first thing to do is examine the company’s core brands and see if they can meet those demands. However, in some cases the portfolio needs to be extended through acquisitions in order to serve all consumers, she says. This is the case of Mielle, a brand that the company acquired in 2023 to strengthen its textured hair care offering.

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

Procter & Gamble’s F3Q sales took a hit from certain international markets. CFO Andre Schulten on an investor call says volume trends of the European enterprise and Asia-Pacific/Middle East/Africa countries such as Egypt, Saudi Arabia, Turkey, Indonesia and Malaysia have remained soft since the start of heightened tensions in the Middle East. Shipments in Russia also continued to decline given its reduced footprint and curtailed investments with consumers and retailers, he adds. Schulten says the combined headwinds from greater China and Asia/Middle East/Africa markets had a 150 basis point impact on total sales in the quarter, but adds that the company expects headwinds to moderate or annualize over the coming periods.

Procter & Gamble will most likely not benefit from an improvement in China and its personal health care category in its upcoming results, set to be the second consecutive quarter in which the consumer goods giant’s organic sales growth could be a bit softer than expected, Barclays analysts say in a research note. Still, Procter & Gamble continues to show significant volume growth and market share gains across most of its focus markets, including the U.S. and Western Europe, the analysts add. Barclays lowers its 3Q organic sales growth estimate by 60 basis points to 3%, but raises its recommendation on the stock to $168 from $165 previously. Shares fall 0.4% to $155.22.

P&G Declares Dividend Increase April 09, 2024– The Board of Directors of The Procter & Gamble Company (NYSE:PG) declared an increased quarterly dividend of $1.0065 per share on the Common Stock and on the Series A and Series B ESOP Convertible Class A Preferred Stock of the Company, payable on or after May 15, 2024 to Common Stock shareowners of record at the close of business on April 19, 2024, and to Series A and Series B ESOP Convertible Class A Preferred Stock shareowners of record at the start of business on April 19, 2024. This represents a seven percent increase compared to the prior quarterly dividend. This reinforces our commitment to return cash to shareowners, many of whom rely on the steady, reliable income earned with their investment in P&G. It marks the 68(th) consecutive year that P&G has increased its dividend and the 134(th) consecutive year that P&G

Procter & Gamble (PG) is expected to report soft fiscal Q3 organic sales growth of 3.4%, below the 3.8% consensus forecast due to China beauty category weakness and Middle East pressure, Morgan Stanley said in a note. The brokerage said, in a Sunday note, it expects a 2.4% earnings per share upside for the consumer goods producer, driven by a 116 basis points gross margin improvement. EPS for the quarter is expected to reach $1.44, surpassing the consensus estimate of $1.41. EPS for the full year is forecasted at $6.45, Morgan Stanley added. The brokerage expects mixed segment results for the company, with a downside in Beauty operating segment growth at 0.8%, a 2% growth in Healthcare, and a growth of 5% each in the Grooming and Baby/Family care categories. Regionally, the brokerage forecasts a 4% growth in North America and a 14% increase in Latin America, countered by a

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lift our 12-month target price by $6 to $175, 26.3x our next-12-month EPS of $6.67 vs. consensus’ $6.72. Our FY 2024 and FY 2025 EPS estimates are unchanged. The multiple is a premium to the five-year forward P/E average of 24x, which we think is warranted by wage trends running above inflation rates. We anticipate this dynamic to impede meaningful demand destruction as we see relatively safe staple demand compared to more discretionary items. We think PG’s margin performance, notably above its pre-pandemic levels, should provide levers to offset any turbulence if it develops. Our view reflects better volume performance in the coming two quarters, relative to the next two, and we see top-line performance surprising to the upside, which we think will lift margin performance.

Procter & Gamble will likely outperform its peers as a result of its improving volume numbers and a normalized macroeconomic environment, Truist Securities analysts say in a research note. The consumer goods giant’s return to volume growth in the latest quarter, excluding China, signals enterprise-level volume recovery in the coming quarters. “With minimal pricing expected in 2024, we believe investor focus has already turned to organic volume growth,” the analysts say. Truist raises the stock to buy from hold, and raises its target price to $175 from $160 previously.

Procter & Gamble (NYSE:PG) CFO Says Co Expects Continued Market Pressure In Greater China And Softening Underlying Market Trends In Some European Enterprise。