Procter & Gamble Beats Expectations with Strong Q2 Earnings

Procter & Gamble (P&G), the Cincinnati-based consumer-products powerhouse, reported its fiscal second-quarter earnings, exceeding Wall Street's projections and raising its full-year profit forecast. The company's adjusted earnings stood at $1.84 per share for the period ending December 31, up from $1.59 per share a year ago. This surpasses the average analyst expectation of $1.70 per share according to FactSet.

P&G recorded a 3% increase in sales, reaching $21.44 billion, slightly below Wall Street's estimate of $21.48 billion. However, when considering organic sales growth, which excludes foreign exchange fluctuations, acquisitions, and divestitures, the company achieved a notable 4% increase.

Looking ahead to fiscal 2024, P&G updated its adjusted per-share earnings growth forecast to be within the range of 8%-9%. This corresponds to an anticipated earnings per share range of $6.37 to $6.43, compared to the previous growth forecast of 6% to 9%. Analysts are currently projecting a full-year adjusted profit of $6.41 per share.

P&G also maintained its outlook for full-year sales growth, expecting a range of 2% to 4%, as well as organic sales growth between 4% and 5%.

The positive performance of P&G demonstrates its continued strength in the consumer-products market, exceeding expectations and showcasing its ability to deliver consistent growth.