Consumer products behemoth Procter & Gamble (NYSE: PG) will be announcing earnings results this Wednesday before market hours. Here’s what to expect.
Procter & Gamble beat analysts’ revenue expectations last quarter, reporting revenues of $21.24 billion, up 7.4% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates but a miss of analysts’ gross margin estimates.
Is Procter & Gamble a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Procter & Gamble’s revenue to grow 2.3% year on year, in line with the 1.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Procter & Gamble has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Procter & Gamble’s peers in the consumer staples segment, some have already reported their Q2 results, giving us a hint as to what we can expect. WD-40 delivered year-on-year revenue growth of 24.3%, beating analysts’ expectations by 12.9%, and Vita Coco reported revenues up 28.1%, topping estimates by 3%. WD-40 traded up 10.6% following the results while Vita Coco was down 11.4%.
Read our full analysis of WD-40’s results here and Vita Coco’s results here.
There has been positive sentiment among investors in the consumer staples segment, with share prices up 2.7% on average over the last month. Procter & Gamble’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $163.61 (compared to the current share price of $148.81).
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