Procter & Gamble (PG) pops on raised profit guidance
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P&G's strong margins take heat off annual profit forecast cut
January 23, 2024 6:58 AM ESTBy Ananya Mariam Rajesh
(Reuters) - Procter & Gamble cut its annual profit forecast on Tuesday to reflect a writedown in the value of its Gillette business, but the company's ability to maintain healthy margins during the second quarter pushed its shares up more than 5%.
The company's profit margins held up better than expected, analysts said, even as prices started to decline in the United States. Margins remained stronger in European markets, also helping P&G's results.
Demand for the company's daily-use products, mainly in the grooming and home-care segments, was strong, with the company's overall... More
Procter & Gamble (PG) Tops Q2 EPS by 14c, Misses on Revenue; Offers Guidance Update
January 23, 2024 6:56 AM ESTProcter & Gamble (NYSE: PG) reported Q2 EPS of $1.84, $0.14 better than the analyst estimate of $1.70. Revenue for the quarter came in at $21.4 billion versus the consensus estimate of $21.47 billion.
P&G maintained its guidance range for fiscal 2024 all-in sales growth to be in the range of two to four percent versus the prior year. Foreign exchange is expected to be a headwind of approximately one to two percentage... More
