Why Consumer Products Giant Procter & Gamble's Shares Are Surging Today
Portfolio Pulse from Akanksha Bakshi
Procter & Gamble Co (NYSE:PG) reported Q1 FY24 sales growth of 6.1% YoY to $21.87 billion, beating the consensus of $21.67 billion. Organic sales increased 7%, driven by higher pricing and favorable product mix. Adjusted EPS of $1.83 beat the consensus of $1.71. The company returned $3.8 billion of cash to shareholders via dividend payments and stock repurchases. P&G now sees all-in sales growth of 2%-4% and maintains FY24 organic sales growth expectation of 4%-5%. The company expects to pay over $9 billion in dividends and repurchase $5 billion-$6 billion of common shares in fiscal 2024.

October 18, 2023 | 12:37 pm
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Procter & Gamble reported strong Q1 FY24 results, beating consensus on sales and EPS. The company also returned significant cash to shareholders and expects to continue doing so in FY24.
Procter & Gamble's strong Q1 FY24 results and positive outlook for FY24, along with its commitment to return cash to shareholders, are likely to have a positive impact on its stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100