澳洲幸运5开奖号码历史查询

Procter & Gamble Q4 Sales Grew With Inflation, But Gillette Shaved Off Earnings

By
澳洲幸运5开奖号码历史查询:Mrinalini Krishna
Mrinalini Krishna
澳洲幸运5开奖号码历史查询:Full Bio
Mrinalini Krishna is the Senior Editor of investing news at Investopedia. She's been a journalist for more than 10 years covering business, personal finance, and investing news.
Learn about our 澳洲幸运5开奖号码历史查询:editorial policies
Published January 23, 2024
11:39 AM EST
Tide, a laundry detergent owned by the Procter & Gamble company, is seen on a store shelf

Joe Raedle / Staff / Getty Images

Key Takeaways

  • Procter & Gamble's Q2 FY2024 earnings and revenue missed analyst expectations.
  • Revenue rose 3% from a year ago to $21.4 billion, thanks to higher prices.
  • Net earnings fell 12% to $3.46 billion or $1.4 per diluted share due to an impairment charge.
  • A $1.3 billion impairment charge due to a reduction in intangible value of the Gillette brand also forced P&G to cut back its FY2024 earnings projection.

The Procter & Gamble Company's (PG) sales rose, driven by higher prices, but a $1.3 billion 澳洲幸运5开奖号码历史查询:impairment charge due to Gillette 🦹trimmed earnings for the three months ending December. 𝐆P&G stock was up over 4% in early trading.

The maker of Tide and Tampax reported net earnings of $3.46 billion or $1.4 per diluted share, missing analyst estimates and down roughly 12% from the year-ago quarter. Higher prices propelled net sales 3% to $21.4 billion, though a shade under the $21.6 billion 澳洲幸运5开奖号码历史查询:analyst consensus compiled by Visible Alpha.

The charge accrued on account of the "reduction in the estimated fair value of the Gillette" brand also forced P&G to cut its earnings projections for fiscal year 2024. The company now expects earnings for the full fiscal year in the range of a 1% decline to in-line earnings compared to FY2023 EPS of $5.90, as opposed to the six to nine percent growth it estimated before.

Q2 FY 2024 Analyst Estimates for Q2 FY2024 Q2 FY 2023 Year-over-year % change 
Revenue $21.4 billion $21.6 billion $20.8 billion 3%
Earnings Per Share $1.4 $1.59 $1.59 (12%)
Net Income $3.46 billion $4.2 billion $3.9 billion (12%)
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  1. P&G. "."

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