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July 30, 2021, 7:13 a.m. EDT

Procter & Gamble stock rallies after profit and revenue rise above expectations

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By Tomi Kilgore

Shares of Procter & Gamble Co. /zigman2/quotes/202894679/composite PG +0.16% rallied 1.0% in premarket trading Friday, after the consumer products giant reported fiscal fourth-quarter profit and sales that rose above expectations, with the strongest growth in its health care and beauty businesses. Net income for the quarter to June 30 rose to $2.91 billion, or $1.13 a share, from $2.80 billion, or $1.07 a share, in the year-ago period. The FactSet consensus for earnings per share was $1.09. Sales increased 7.1% to $18.95 billion, boosted by increases in shipment volume and pricing, to top the FactSet consensus of $18.40 billion. All of P&G's business segments saw sales grow from a year ago, with sales up 18% in health care, 11% in beauty, 10% in grooming, 5% in fabric & home care and 1% in baby, feminine & family care. For fiscal 2022, the company expects adjusted EPS growth of 3% to 6% and sales to rise 2% to 4% from a year ago. The FactSet EPS consensus of $5.90 implies 4.2% growth and sales consensus of $78.22 billion implies 2.8% growth. The stock has gained 4.5% over the past three months through Thursday, while the SPDR Consumer Staples Select Sector ETF /zigman2/quotes/200697959/composite XLP -0.54% has tacked on 2.6% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.48% has advanced 3.6%.

/zigman2/quotes/202894679/composite
US : U.S.: NYSE
$ 144.34
+0.23 +0.16%
Volume: 18.74M
Sept. 17, 2021 4:04p
P/E Ratio
26.27
Dividend Yield
2.41%
Market Cap
$349.94 billion
Rev. per Employee
$753,644
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/zigman2/quotes/200697959/composite
US : U.S.: NYSE Arca
$ 71.36
-0.39 -0.54%
Volume: 13.15M
Sept. 17, 2021 4:00p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,584.88
-166.44 -0.48%
Volume: 577.97M
Sept. 17, 2021 5:25p
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