Why Gillette Parent Procter & Gamble Shares Are Tumbling Today
Portfolio Pulse from Shivani Kumaresan
Procter & Gamble (NYSE:PG) shares are down 5.40% after reporting Q4 FY24 sales of $20.53 billion, missing the $20.74 billion consensus. Organic sales rose 2%, but foreign exchange impacts offset gains. Adjusted EPS of $1.40 beat estimates. The company projects FY25 sales growth of 2%-4% and EPS growth of 5%-7%.
July 30, 2024 | 1:01 pm
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Procter & Gamble shares fell 5.40% after Q4 FY24 sales of $20.53 billion missed the $20.74 billion consensus. Despite a 2% increase in organic sales and adjusted EPS of $1.40 beating estimates, foreign exchange impacts and a 7% drop in operating income contributed to the decline.
The decline in PG's stock price is primarily due to missing sales estimates and a drop in operating income, despite positive organic sales growth and an EPS beat. The market is reacting to the mixed results and the impact of foreign exchange.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100