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PROCTER & GAMBLE COMPANY

(PG)
  Report
Delayed Nyse  -  04:03 2022-09-28 pm EDT
131.98 USD    0.00%
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P&G's sales climb in Q4, but cautious on fiscal 2023 outlook

07/29/2022 | 10:05am EDT

Procter & Gamble's sales rose 3% in the fiscal fourth quarter, but the world's largest consumer products maker gave a lackluster fiscal 2023 sales forecast as it contends with rising commodity and freight costs.

Shares of the Cincinnati-based company dropped nearly 5% at the market open on Friday.

Like many businesses, P&G is dealing with consumers pulling back on their spending as they worry about inflation and a possible recession.

“The operational cost and currency challenges we faced over the last two years will continue in fiscal 2023. We began the new fiscal year with consumers facing inflation levels not seen in the last 40 years," Chairman and CEO Jon Moeller said during a conference call.

Despite consumers' growing concerns, P&G's revenue climbed to $19.52 billion from $18.9 billion during the quarter, helped by higher prices. This topped the $19.39 billion that analysts surveyed by Zacks Investment Research were looking for.

The company reported sales growth in its health care, fabric and home care and baby, feminine and family care segments. Its brands include Tide detergent, Gillette razors and Pampers diapers.

P&G earned $3.05 billion, or $1.21 per share, for the April through June period. That's 2 cents shy of what Wall Street expected.

The company reported fiscal 2022 sales of $80.2 billion and earnings of $5.81 per share.

For fiscal 2023, P&G foresees sales to be flat to up 2% from the prior year. Earnings are anticipated to be flat to up 4% from the previous year's $5.81 per share. Analysts polled by FactSet expect sales of $81.89 billion and earnings of $6.02 per share.

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News

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Analyst Recommendations on PROCTER & GAMBLE COMPANY
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Financials (USD)
Sales 2023 81 190 M - -
Net income 2023 14 803 M - -
Net Debt 2023 25 714 M - -
P/E ratio 2023 22,3x
Yield 2023 2,78%
Capitalization 315 B 315 B -
EV / Sales 2023 4,19x
EV / Sales 2024 4,03x
Nbr of Employees 106 000
Free-Float 59,6%
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 131,98 $
Average target price 155,42 $
Spread / Average Target 17,8%
EPS Revisions
Managers and Directors
Jon R. Moeller Chairman, President & Chief Executive Officer
Andre Schulten Chief Financial Officer
Vittorio Cretella Chief Information Officer
Victor Aguilar Chief Research, Development & Innovation Officer
Shailesh G. Jejurikar Chief Operating Officer
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