Procter & Gamble’s Tide detergent can be seen on display at a new Wal-Mart store in Chicago January 24, 2012.
John Gress | Reuters
Procter & Gamble on Tuesday reported mixed quarterly results, but the company’s volume increased for the first time in more than two years.
Volume excludes pricing, making the metric a more accurate reflection of demand than sales. Over the last several years, P&G’s price hikes across its portfolio, from diapers to detergent, fueled its sales growth, but volume flattened or even declined as consumers bought less of its products.
Shares of the company fell 2% in premarket trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
- Earnings per share: $1.40 adjusted vs. $1.37 expected
- Revenue: $20.53 billion vs. $20.74 billion expected
P&G reported fiscal fourth-quarter net income attributable to the company of $3.14 billion, or $1.27 per share, down from $3.38 billion, or $1.37 per share, a year earlier.
Excluding items, the company earned $1.40 per share.
Net sales of $20.53 billion were flat compared with the year-ago period.
For fiscal 2025, P&G anticipates core net earnings per share in a range of $6.91 to $7.05. The company reiterated its revenue outlook of 2% to 4% growth.
