P&G beats quarterly sales estimates, warns of cost pressures

Reuters2021-07-30

July 30 (Reuters) - Procter & Gamble Co reported fourth-quarter sales on Friday that beat analysts' estimates, but warned that rising commodity and freight costs would take a $1.9 billion bite out of its earnings this year.

The vaccine-aided easing of COVID-19 restrictions in the United States and parts of Europe helped the company post an 11% increase in sales at its beauty segment in the reported quarter, as consumers returning to social events, spent more on personal care products.

Procter & Gamble said net sales rose 7% to $18.95 billion in the quarter ended June 30, compared with estimates of $18.41 billion, according to IBES data from Refinitiv.

The company forecast fiscal 2022 core earnings per share to rise between 3% and 6%, and sales to increase in the 2% to 4% range.

Late on Thursday, the Tide detergent maker named Chief Operating Officer Jon Moeller as its new CEO, replacing David Taylor, who will become executive chairman on Nov. 1.

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Comments

  • vincetan
    2021-08-01
    vincetan
    New leadership means it's either a change to bring the company forward, or vice versa. Hope it's the former! 
    • keaty: 
      usually aft sometime complacency sets in...... history repeats itself
  • OSG
    2021-07-30
    OSG
    Good Luck
  • Kimmikim
    2021-07-30
    Kimmikim
    Hi
  • fysx49
    2021-07-30
    fysx49
    ?
  • szueyann
    2021-07-30
    szueyann
    Please like and comment. Thanks
  • OldYee
    2021-07-30
    OldYee
    Fr SG for Schooling. We Welcome n Love Winning. We Learn n Inspired to work harder losing. Support You!
    • FSYE: 
      k
    • jw321: 
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