P&G: beat, but cost risks
- Procter & Gamble reported fiscal third-quarter results on April 24 with net sales up 7% to $21.24 billion, beating estimates, while executives warned that tariffs and oil costs are rising. - Core earnings were $1.59 a share, ahead of Wall Street’s $1.56 estimate, and companywide volume rose 2%, the first broad volume increase in a year. - The beat came with a softer subtext: organic sales rose 3%, showing much of the gain was not volume-led as cost pressure builds. (cnbc.com)
Procter & Gamble beat Wall Street’s fiscal third-quarter estimates on April 24, but executives spent much of the call talking about tariffs, oil and war-driven costs. (pginvestor.com) (cnbc.com) The Tide and Pampers maker reported net sales of $21.24 billion, up 7% from a year earlier, with diluted earnings per share of $1.63 and core earnings per share of $1.59. Organic sales, which strip out currency and deal effects, rose 3%. (pginvestor.com) Analysts surveyed by LSEG had expected adjusted earnings of $1.56 a share and revenue of about $20.5 billion, according to CNBC. Shares rose more than 3% in morning trading after the report. (cnbc.com) The quarter’s cleanest demand signal was volume. P&G said volume increased 2% across the company, the first time in a year that it posted companywide volume growth. (cnbc.com) (pginvestor.com) Beauty did much of the lifting. CNBC reported P&G’s beauty division posted 5% volume growth, while baby, feminine and family care volume rose 3% and fabric and home care volume rose 2%. (cnbc.com) P&G kept its full-year fiscal 2026 guidance in place. The company said it still expects all-in sales growth of 2% to 4%, organic sales growth of 2% to 4%, and core earnings per share growth of 2% to 4%. (pginvestor.com) The caution came in what management would not forecast. Chief Financial Officer Andre Schulten said P&G would wait until July to give fiscal 2027 guidance because the outlook is too uncertain. (cnbc.com) Schulten told investors the company is watching the effects of the war with Iran on input costs and consumer spending. He told CNBC, “What do we know what the world looks like three months from now,” explaining why P&G is holding off on next year’s outlook. (cnbc.com) That leaves investors with two stories at once: a quarter that topped expectations, and a consumer-products giant signaling that freight, fuel and raw-material costs could get harder to pass through. P&G’s results showed 3% organic sales growth against 2% volume growth and 1% higher pricing. (pginvestor.com) For now, P&G is still promising the same fiscal-year targets it gave before this quarter. The next test comes in July, when the company says it will finally put numbers on fiscal 2027. (pginvestor.com) (cnbc.com)
