Detailed view of Charmin toilet paper rolls in a domestic home, San Ramón, California, March 25, 2020.
Smith Collection | Gado fake pictures
Procter & Gamble reported strong quarterly revenue growth on Thursday as consumers trapped in their homes bought more Tide laundry detergent and Mr.
The company’s shares rose more than 2% in premarket trading.
This is what the company reported for the quarter ended June 30 compared to what Wall Street expected, according to an analyst survey by Refinitiv:
- Earnings per share: $ 1.16, adjusted, vs. $ 1.01 expected
- Revenue: $ 17.7 billion vs. $ 16.97 billion expected
P&G reported fiscal fourth quarter net income of $ 2.8 billion, or $ 1.07 per share, above a loss of $ 5.2 billion, or $ 2.12 per share, a year earlier.
Excluding items, the company earned $ 1.16 per share, exceeding the $ 1.01 per share expected by analysts surveyed by Refinitiv.
Net sales It increased 4% to $ 17.7 billion, exceeding expectations of $ 16.97 billion. Organic sales, which eliminate the impact of currency fluctuations, acquisitions and divestments, increased 6% during the quarter.
The company attributed the growth to increased demand in North America and China for its household cleaning and personal health products. Its fabric and home care segment, which includes Tide and Comet cleaning products, posted an 11% sales increase in the quarter.
In fiscal year 2021, the company expects sales growth of 1% to 3% and organic revenue growth of 2% to 4%. Earnings growth of 6% to 10% is forecast.
P&G also said it expects to pay $ 8 billion in dividends and repurchase $ 6 billion to $ 8 million in its own shares in fiscal year 2021.
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