The Procter & Gamble Company Revises Financial Guidance for the Full Year of Fiscal 2024
April 19, 2024 at 08:30 am EDT
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The Procter & Gamble Company revises financial guidance for the full year of fiscal 2024. For the period, the company maintaining guidance range for organic sales growth of 4% to 5%. The company's squarely in the middle of this range fiscal year-to-date.
This outlook assumes continued normalization in underlying market growth rates that company seen over the past few quarters: Markets will be lapping the last waves of cost recovery pricing and volumes slowly begin to recover. The company also expect the market-level changes it faced through third quarter to continue in fourth quarter, though with some directional improvement. On the bottom line, enabled by 15% core EPS growth year-to-date, the company raising its outlook core earnings per share from a range of 8% to 9% to a range of 10% to 11%.
This outlook includes continued strong investments in innovation and brand building to grow markets and extend the superiority of P&G offerings to consumers. The company estimate commodities will be a tailwind of around $900 million after tax based on current spot prices. This is a modest improvement versus the outlook the company provided last quarter, though nearly all of this benefit has been booked in the first three quarters of the year.
Procter & Gamble Company is one of the world's leaders in producing and selling consumer products. Net sales break down by family of products as follows:
- care and hygiene products (38.3%): oral hygiene products (toothpastes, toothbrushes, mouthwashes, etc.; Crest, Oral-B, Scope brands, etc.), pharmaceutical products (Metamucil, Neurobion, Pepto Bismol, Vicks, etc.), toilet training pants (Luvs, Pampers), toilet papers and paper towels (Bounty, Charmin, Puffs), feminine protection products (Always, Always Discreet and Tampax), etc.;
- home care and laundry products (34.6%): dishwashing liquids, detergents, stain removers, fabric softeners, deodorizers, bleaches, etc. (Ariel, Downy, Gain, Tide Cascade, Dawn, Fairy, Febreze, Mr. Clean, Swiffer, etc.);
- beauty products (18.3%): hair care products (shampoos, colorings, and cream rinses; Head & Shoulders, Herbal Essences, Pantene and Rejoice brands), body care (soaps, shower gels, deodorants, etc.; Camay, Zest, Secret, Old Spice) and cosmetics (make-up and facial care; Max Facto, Covergirl and Olay);
- shaving products (7.8%): blades, razors, batteries, etc. (Braun, Gillette and Venus brands);
- other (1%).