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P & G surpasses quarterly sales forecast and warns of cost pressure

NS

Reuters API

Published



July 30, 2021

Procter & Gamble Co reported that Friday’s fourth-quarter sales exceeded analysts’ expectations, but warned that rising commodities and fares would result in a loss of $ 1.9 billion in earnings this year.

Photo: P & G Hair Care Brand Aussie

With the relaxation of COVID-19 restrictions with vaccine support in parts of the United States and Europe, the company saw sales in the beauty segment in the reported quarters as consumers returning to social events spent more on personal care products. It increased by 11%. ..

According to Refinitiv’s IBES data, according to Procter & Gamble, net sales for the quarter ended June 30 were up 7% to $ 18.95 billion, an estimate of $ 18.41 billion.

The company predicts that core earnings per share will increase in the range of 3% to 6% and sales will increase in the range of 2% to 4% in 2022.

Late Thursday, the tide detergent maker appointed Chief Operating Officer John Moller as the new CEO to replace David Taylor, who will become chairman on November 1.

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P & G surpasses quarterly sales forecast and warns of cost pressure

Source link P & G surpasses quarterly sales forecast and warns of cost pressure

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