Home » Procter & Gamble (PG) Q2 2022 earnings

Procter & Gamble (PG) Q2 2022 earnings

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Tide, a laundry detergent owned by the Procter & Gamble firm, is seen on a retailer shelf on October 20, 2020 in Miami, Florida.

Joe Raedle | Getty Pictures

Procter & Gamble on Wednesday reported quarterly earnings and income that topped Wall Road’s expectations as value hikes helped offset increased commodity and freight prices.

On the heels of its sturdy efficiency, the corporate additionally raised its outlook for gross sales development however mentioned it expects inflation to weigh much more closely on its fiscal 2022 outcomes.

Shares of P&G rose 1.3% in premarket buying and selling.

This is what the corporate reported in contrast with what Wall Road was anticipating, based mostly on a survey of analysts by Refinitiv:

  • Earnings per share: $1.66 vs. $1.65 anticipated
  • Income: $20.95 billion vs. $20.34 billion anticipated

The patron large reported fiscal second-quarter web revenue of $4.22 billion, or $1.66 per share, up from $3.85 billion, or $1.47 per share, a 12 months earlier. Analysts surveyed by Refinitiv had been anticipating $1.65 per share.

Web gross sales rose 6% to $20.95 billion, topping expectations of $20.34 billion. Natural income, which strips out the impression of international forex, acquisitions and divestitures, additionally rose 6% within the quarter. About half of that development got here from the impression of value hikes on sure merchandise in its portfolio.

For fiscal 2022, P&G is now calling for 3% to 4% gross sales development, up from its prior forecast of two% to 4%.

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