Procter Tuesday Posted mixed quarterly resultsbut the company’s sales grew for the first time in more than two years.
Sales do not include pricing, making this metric a more accurate reflection of demand than sales. Price increases across P&G’s entire product portfolio, from diapers to detergents, have boosted sales over the past few years, but sales have flattened or even declined as consumers bought fewer of its products.
The company’s shares fell 4.6% in pre-market trading.
The company’s report compared with Wall Street expectations, according to a survey of analysts by London Stock Exchange Group (LSEG):
- Earnings per share: Adjusted $1.40, expected $1.37
- income: US$20.53 billion, expected US$20.74 billion
Procter & Gamble reported fourth-quarter net income attributable to the company of $3.14 billion, or $1.27 per share, down from $3.38 billion, or $1.37 per share, in the same period last year.
Excluding items, the company earned $1.40 per share.
net sales US$20.53 billion was basically the same as the same period last year. Procter & Gamble’s organic revenue (excluding foreign exchange, acquisitions and divestitures) grew 2% in the quarter.
Procter & Gamble’s sales rose 1% on strong demand for its beauty, health, fabric and home care products. Quarterly sales rose 2% in all three segments.
But the company’s beauty and baby, feminine and home care divisions continue to struggle. Sales in both divisions fell 1% each due to lower demand for the pricey SK-II skin care brand and diapers.
P&G expects core net income per share in fiscal 2025 to be between US$6.91 and US$7.05. The company reiterated its forecast for revenue growth of 2% to 4%.
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