Procter & Gamble (PG) Q3 2022 earnings
Bottles of Tide detergent, a Procter & Gamble product, are displayed for sale in a pharmacy on July 30, 2020 in Los Angeles, California.
Mario Tama | Getty Images
Procter & GambleExpected to release its fiscal third quarter earnings prior to the bell
Based on Refinitiv’s survey, here are the expectations of Wall Street analysts:
- Earnings per share:Expected price: $1.29
- Revenue:Estimated $18.73 trillion
Consumer goods giant P&G may serve as a bellwether for investors as costs rise shoppers weigh higher price tags.
In spite of inflation soaring, the price increases have allowed Gillette to keep its profits up so far. Gillette razors, toothbrushes by Oral B and toothpastes from Gillette saw a sales bump last quarterPrice increases are causing this. Investors will monitor any shifts in consumer behaviour as consumers face higher prices in the grocery and gas stations.
Russia’s invasion of Ukraine has not only intensified inflation in the U.S., but also spurred scrutiny of P&G and other Western companies that operate in Russia. P&G has suspended its Ukrainian operations and scaled back those in Russia. These two countries make up less than 2 percent of P&G’s overall revenues.
For fiscal 2022, P&G is calling for 3% to 4% sales growth and core earnings per share increases of 3% to 6%, according to its latest release. The company also forecasts that inflation will be a headwind of $2.6 billion for this fiscal year.
Shares of P&G have climbed 16% over the last 12 months, giving it a market value of $381 billion.
This is the latest news. Stay tuned for new updates.