Procter & Gamble (NYSE:PG) earnings for the consumer goods company’s fiscal second quarter of 2020 have PG stock down on Thursday. This comes after reporting adjusted earnings per share of $1.42. That’s better than Wall Street’s estimate of $1.37 cents per share. Unfortunately for PG stock, its revenue of $18.24 billion misses analysts’ estimates of $18.37 billion.
Here are some additional highlights from the most recent Procter & Gamble earnings report.
- Adjusted EPS is up 13.60% from $1.25 during the same time last year.
- Revenue comes in 4.59% higher than the $17.44 billion reported in fiscal Q2 2019.
- Operating income of $4.48 billion is a 15.87% increase YoY from $3.90 billion.
- The Procter & Gamble earnings report also includes a net income of $3.74 billion.
- That’s 16.15% better than the company’s net income of $3.22 billion from the same period of the year prior.
David Taylor, Chairman, President and CEO of Procter & Gamble, says this about the PG stock earnings report.
“We delivered another strong quarter of organic sales growth, core earnings per share and cash returned to shareowners. Our strong first half results enable us to further increase our outlook for the full fiscal year across each of these metrics and to increase our commitment of cash return to shareowners.”
The Procter & Gamble earnings report outlook has it making minor and major changes. This includes expecting all-in sales growth to range from 4% to 5% instead of the previous 3% to 5% range. It also now expects adjusted per-share earnings growth of 8% to 11%, as compared to the prior 5% to 10% range.
PG stock was down almost 1% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.