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Procter & Gamble (PG) Q2 2024 earnings

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A Procter & Gamble (P&G) emblem is seen in the course of the sixth China Worldwide Import Expo (CIIE) on the Nationwide Exhibition and Conference Heart (Shanghai) on November 7, 2023 in Shanghai, China.

VCG | Getty Pictures

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Procter & Gamble on Tuesday reported combined quarterly earnings and income for its fiscal second quarter of 2024.

The corporate additionally narrowed its outlook for full-year adjusted earnings per share to a spread of $6.37 to $6.43, though its forecast for unadjusted earnings fell as a result of its plans to write down down Gillette and restructure sure markets.

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Shares of the corporate rose about 1% in premarket buying and selling.

This is what P&G reported in contrast with what Wall Road was anticipating, primarily based on a survey of analysts by LSEG, previously often known as Refinitiv:

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  • Earnings per share: $1.84 adjusted vs. $1.70 anticipated
  • Income: $21.44 billion vs. $21.48 billion anticipated

P&G reported fiscal second-quarter internet earnings attributable to the corporate of $3.47 billion, or $1.40 per share, down from $3.93 billion, or $1.59 per share, a 12 months earlier.

The Tide detergent proprietor wrote down the worth of razor model Gillette by $1.3 billion, following by way of on an announcement it made in December. The corporate beforehand stated it will document as much as $2.5 billion in prices over the subsequent two fiscal years associated to Gillette impairment prices and restructuring its enterprise in some markets, like Argentina and Nigeria.

Excluding the impacts of restructuring and intangible impairment, the corporate earned $1.84 per share.

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Internet gross sales rose 3% to $21.44 billion.

This story is growing. Please examine again for updates.

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