Procter & Gamble beats estimates – the stock is up

The Procter & Gamble Company (NYSE:PG) reported its latest financial results before the opening bell on Wednesday.

The largest consumer goods company in the world topped both revenue and earnings per share (EPS) estimates for the quarter – sending the stock price higher at the open.

Revenue reported at $20.612 billion (up by 1% year-over-year) vs. $20.33 billion expected.

EPS at $1.57 per share (down by 2% year-over-year) vs. $1.547 per share estimate.

”We delivered solid results in our first quarter of fiscal 2023 in a very difficult cost and operating environment,” Jon Moeller, CEO of The Procter & Gamble Company said in a press release.

”These results enable us to maintain our guidance ranges for organic sales and EPS growth for the fiscal year despite continued significant headwinds. We remain committed to our integrated strategies of a focused product portfolio, superiority, productivity, constructive disruption and an agile and accountable organization structure. These strategies have enabled us to build and sustain strong momentum. They remain the right strategies to navigate through the near-term challenges we’re facing and continue to deliver balanced growth and value creation,” Moeller concluded.

The stock was up by around 2% following the latest results, trading at $131.11 a share.

Stock performance

• 1 month: -3.34%
• 3 months: -7.32%
• Year-to-date: -19.80%
• 1 year: -7.10%

Procter & Gamble price targets

• Credit Suisse: $140
• JP Morgan: $140
• Raymond James: $155
• Deutsche Bank: $155
• Morgan Stanley: $160
• Wells Fargo: $150
• Barclays: $154
• Truist Securities: $160

The Procter & Gamble Company is the 17^th largest company in the world with a market cap of $313.81 billion.

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Sources: The Procter & Gamble Company, TradingView, MetaTrader 5, Benzinga, CompaniesMarketCap