"P&G's Price Hikes Drive Revenue Growth Despite Earnings Setback"
TL;DR Summary
Procter & Gamble's stock jumped 5% after reporting its fiscal second quarter results, with net sales up 3% driven by higher prices but shipment volumes down. Diluted earnings per share fell 12% due to a $1.3 billion impairment charge related to its Gillette business, but would have been up 16% without the charge. The company maintained its guidance for full-year net sales growth of 2% to 4%, but lowered its diluted EPS growth expectations due to the impairment charge. Despite slow growth, P&G plans to return billions of dollars to shareholders in 2024 through dividends and stock repurchases.
- Here's Why Procter & Gamble Stock Jumped Today The Motley Fool
- Procter & Gamble price hikes boost revenue while Gillette write-down weighs on earnings CNBC
- P&G Earnings Show Some Consumers Are Getting Used to Higher Prices The Wall Street Journal
- The key factor separating Q4 earnings winners & losers Yahoo Finance
- We're pleased to see P&G shares pop on solid quarterly earnings. But don't chase the rally CNBC
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