Last quarter, Procter & Gamble saw its sales soar 10% as shoppers stocked up in preparation for lockdowns.P&G executives say that the company is better prepared to enter a recession than in 2008.
Detail view of rolls of Charmin toilet paper in a domestic home, San Ramon, California, March 25, 2020.is expected to report its fiscal fourth-quarter results before the bell Thursday.Earnings per share: $1.01 expected, the consumer packaged goods giant saw its sales soar 10% as shoppers stocked up on its cleaning products and Charmin toilet paper. Investors will be watching to see if P&G's sales continue to benefit from more consumers staying at home, even as global lockdowns ease.
P&G forecast that adjusted earnings per share, which excludes some items, will be up 8% to 11% for the fiscal year. It's expecting fiscal 2020 sales growth of 3% to 4%. P&G executives say that the company is better prepared to enter a recession than in 2008. According to the National Bureau of Economic Research, the U.S. entered a recession in February. And even as other companies are slashing or suspending their dividends, P&G announced in April that it raised its quarterly dividend by 6%.This story is developing. Please check back for updates.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Procter & Gamble Starts to Strike Deals in TV’s Upfront MarketProcter & Gamble has been one of the leading voices pushing to get the TV industry to change its decades-old “upfront” marketplace. But that hasn’t kept the consumer-products …
Source: Variety - 🏆 108. / 63 Read more »
Here's what to expect from McDonald's earningsShares of McDonald's, which has a market value of $155 billion, have risen 1.8% so far this year. Even McDonald's is overvalued with a Price-to-Earnings ratio over 26.
Source: CNBC - 🏆 12. / 72 Read more »
Here's what to expect from Starbucks earningsThe coronavirus pandemic led Starbucks to lose as much as $3.2 billion in sales during the quarter, according to its internal estimates. I bet they're down in Portland. $SBUX has been a great performer for us in the past but going into earnings it is still below the cloud - and therefore in sell. fintwit wallstreet Expect a horrible loss and hope they are confident in adjusting the future losses lower
Source: CNBC - 🏆 12. / 72 Read more »
Procter & Gamble Starts to Strike Deals in TV’s Upfront MarketProcter & Gamble has been one of the leading voices pushing to get the TV industry to change its decades-old “upfront” marketplace. But that hasn’t kept the consumer-products …
Source: Variety - 🏆 108. / 63 Read more »
GE loses less cash than expected even as pandemic pummels earningsGeneral Electric Co lost less cash than estimated in the second quarter even as the coronavirus pandemic pummeled demand in its aviation business, resulting in a wider-than-expected quarterly loss. Losing less cash than expected is still a negative cash flow.
Source: Reuters - 🏆 2. / 97 Read more »
Samsung expects smartphone demand to drive second half earningsSamsung Electronics Co Ltd expects a global recovery in demand for smartphones and consumer electronics to underpin profits in the second half of the year, after a coronavirus-propelled shift to online working boosted quarterly earnings. Does Samsung stop explosion?
Source: Reuters - 🏆 2. / 97 Read more »