Procter & Gamble price hikes boost revenue while Gillette write-down weighs on earnings
Publishing timestamp: 2024-01-23 16:06:21
Summary
Procter & Gamble reported mixed quarterly earnings and revenue for its fiscal second quarter. The company narrowed its outlook for full-year adjusted earnings per share due to plans to write down Gillette and restructure certain markets. Consumers have pulled back on their purchases of P&G products after two years of higher prices. P&G's organic revenue climbed 4% in the quarter, but volume was flat overall. The grooming division saw volume growth, while the beauty segment and health-care division reported flat or declining volume. P&G anticipates core earnings per share growth of 8% to 9% for fiscal 2024, but expects unadjusted earnings per share to be flat to down 1%.
Sentiment: MIXED
Tickers: PG,
Keywords: breaking news: markets, business, business news, procter & gamble co, retail industry, dividends, breaking news: earnings, earnings, markets, breaking news: business,
Source: https://www.cnbc.com/2024/01/23/procter-gamble-pg-q2-2024-earnings.html