Thursday, September 23, 2021
HomeBusinessProcter & Gamble is set to report earnings before the bell

Procter & Gamble is set to report earnings before the bell

View of Daybreak dish cleaning soap liquid at Cease & Store Grocery store.

Ron Adar | LightRocket | Getty Photographs

Procter & Gamble is ready to report its fiscal fourth-quarter earnings outcomes earlier than the market opens on Friday.

This is what Wall Avenue is anticipating, based mostly on a survey of analysts by Refinitiv:

  • Earnings per share: $1.08, adjusted
  • Income: $18.41 billion

P&G introduced Thursday night that current chief operating officer Jon Moeller will become CEO in November, replacing David Taylor, who will change into govt chairman of the corporate’s board of administrators. Taylor, 62, had been CEO since Nov. 1, 2015.

Final quarter, P&G’s earnings and revenue topped analysts’ estimates, as shoppers maintained pandemic shopping for traits like stocking up on cleansing provides. Folks additionally began shopping for magnificence merchandise once more.

The corporate — whose portfolio consists of Tide detergent, Charmin rest room paper and Pampers diapers — is on observe to raise prices on some products this autumn in response to greater commodity prices. Rival Kimberly-Clark, which makes Huggies, has additionally introduced value hikes on varied gadgets.

After the worth will increase go into impact, P&G is planning to carry market share by making an attempt to extend shoppers’ notion of the worth of its merchandise and introducing new or upgraded gadgets. Corporations corresponding to P&G and Kimberly-Clark are betting shoppers might be prepared to pay extra for the model model, as an alternative of choosing a less expensive non-public label.

In its most lately issued forecast for fiscal 2020, P&G mentioned it anticipated gross sales to be up 5% to six% and adjusted earnings to develop of 8% to 10%. However the firm has additionally been absorbing greater uncooked materials and transportation prices, which might weigh on outcomes.

P&G shares are up lower than 1% 12 months up to now. The corporate has a market cap of $341.4 billion.

—CNBC’s Amelia Lucas contributed to this reporting.

This story is breaking. Please verify again for updates.



Please enter your comment!
Please enter your name here


Most Popular