Procter & Gamble (PG) missed sales and net income estimates in its fiscal 2025 first-quarter earnings report Friday morning, but its adjusted profit beat expectations.
Procter & Gamble Co (NYSE:PG, ETR:PRG) reported a surprise decline in first-quarter net sales, its second consecutive quarterly sales drop, driven by consumers in the U.S. and China switching to cheaper brands amid economic uncertainty.
Procter & Gamble (PG) came out with quarterly earnings of $1.93 per share, beating the Zacks Consensus Estimate of $1.90 per share. This compares to earnings of $1.83 per share a year ago.
Procter & Gamble CEO Jon Moeller joins 'Squawk Box' to discuss the company's quarterly earnings results, sales growth outlook, weak China demand, impact of inflation on pricing strategies, strength of the consumer, and more.
CNBC's Joe Kernen reports on the company's quarterly earnings results.
Shares of Procter & Gamble Co. fell 1.2% in premarket trading Friday, after the consumer packaged-goods company reported fiscal first-quarter profit that beat expectations and maintained its full-year outlook even as sales surprisingly declined.
As a consumer-products giant, P&G tends to serve as a bellwether for the habits of the average shopper.
Procter & Gamble beat quarterly earnings expectations but missed revenue estimates. The company said demand fell in its Greater China market.
Procter & Gamble missed Wall Street expectations for first-quarter sales on Friday, as consumers in its major markets, the United States and China, switched to cheaper household and personal care brands.
The Procter & Gamble Company PG will release earnings results for its first quarter, before the opening bell on Friday, Oct. 18.
Procter & Gamble's stock has outperformed its large-cap staple peers in 2024, but now faces a critical Q1-25 earnings event that could influence future performance. PG has missed topline estimates for three straight quarters now, and the weak organic growth trend may not necessarily reverse in Q1 given a difficult base. PG's largest product segment-Fabric Care isn't firing on all cylinders, while its second largest market-China too will likely face challenges.
Procter & Gamble (NYSE: PG) is scheduled to report its fiscal Q1 2025 results on Friday, October 18 (P&G's fiscal ends in June). We expect the company to post upbeat results, with revenue of $22.1 billion and earnings of $1.92 per share, compared to the consensus estimates of $21.96 billion and $1.90, respectively.