Published on 19 Apr 2024 on Zacks via Yahoo Finance
Procter & Gamble (PG) Q3 Earnings Top Estimates, Sales Miss
The Procter & Gamble Company PG has reported third-quarter fiscal 2024 results, wherein earnings surpassed the Zacks Consensus Estimate, while sales missed the same. Sales and earnings improved year over year. The company’s organic sales grew, driven by robust pricing, along with strength across segments.Procter & Gamble’s core earnings of $1.52 per share increased 11% from $1.37 in the year-ago quarter. The figure also beat the Zacks Consensus Estimate of $1.42. The strong bottom-line results have stemmed from sales growth, an improved operating margin and lower shares outstanding. Currency-neutral net earnings per share (EPS) rose 18% year over year.The company has reported net sales of $20,195 million, up 1% year over year. Sales missed the Zacks Consensus Estimate of $20,483 million. The increase in sales can be attributed to growth across all segments, except for Baby, Feminine & Family Care. Currency negatively impacted net sales by 2%.
Procter & Gamble Company (The) Price, Consensus and EPS Surprise