In detail about a roll of Charmin toilet paper in San Ramon, California, March 25, 2020, a domestic home.
Smith Collection | Gado | Getty Images
Procter & Gamble reported strong quarterly revenue growth on Thursday as homegrown consumers bought more tide laundry detergents and Mr Clean products.
The company’s shares rose more than 2% in premarket trading.
Based on a survey of analysts by the refineries, the company reported for the quarter ended June 30 as expected by Wall Street.
- Earnings per share: $ 1.16, adjusted, vs. $ 1.01 expected
- Revenue: $ 17.7 billion vs. $ 16.97 billion expected
P&G reported fiscal fourth-quarter net income of $ 2.8 billion, or $ 1.07 per share, from a loss of $ 5.2 billion, or $ 2.12 per share, a year earlier.
Excluding the item, the company earned $ 1.01 per share, which was $ 1.01 per share expected by analysts surveyed by Refinitive.
gross sales It rose 4% to $ 17.7 billion, beating expectations of $ 16.97 billion. Organic sales, which offset the effects of currency fluctuations, acquisitions and divestitures, rose 6% during the quarter.
The company attributed the growth to high demand in North America and China for its household cleaning and personal health products. Its clothing and home care segment, which includes Tide and Comet Cleaning Products, saw an 11% increase in sales in the quarter.
In fiscal 2021, the company expects sales growth of 1% to 3% and organic revenue growth of 2% to 4%. It is forecasting an income growth of 6% to 10%.
P&G also said it expects to pay $ 8 billion in dividends and could buy back $ 6 billion to $ 8 million in its own shares in FY 2021.
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