P&G Earnings Top Estimates as Price Hikes Offset Rising Costs, Company Raises 2022 Sales Forecast

  • 📰 NBCDFW
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 63%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

P&G Earnings Top Estimates as Price Hike Offset Rising Costs, Company Raises 2022 Sales Forecast

Net sales rose 6% to $20.95 billion, topping expectations of $20.34 billion. Organic revenue, which strips out the impact of foreign currency, acquisitions and divestitures, also rose 6% in the quarter. About half of that growth came from the benefit of raising prices on select products.

For fiscal 2022, P&G is now calling for 3% to 4% sales growth, up from its prior forecast of 2% to 4%. But the company didn't change its outlook for earnings as it also predicted higher costs. For the second consecutive quarter, P&G increased its inflation forecast. The company expects to pay $2.3 billion after tax on commodity costs and $300 million after tax on higher freight costs, up from last quarter's outlook of $2.1 billion on commodities and $200 million on freight. Combined with a $200 million headwind from foreign currency, P&G is forecasting a $2.8 million headwind, or $1.10 per share, to its fiscal 2022 earnings compared with the year prior.

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:

 /  🏆 288. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

'We care about our workers so we increased wages!' Translation -- 'we're going to overwork them and f--k the rest of you! 😌'

So, 'Inflation Equals Better Earnings for Stockholders Even as Stakeholders Demand Better Wages - Company Believes they can Charge Even More in 2022 forecasting even higher earnings potential' there you go I fixed the headline for you 😉

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines