- Procter & Gamble (NYSE:PG) pushes higher after reporting organic sales rose 4% in FQ4 to beat the consensus mark of +3%. The organic sales growth was driven by a one percent increase in shipment volume, a one percent increase in pricing and positive mix impact of one percent.
- P&G notes that the positive mix was driven by the disproportionate growth of the healthcare segment and the skin/personal care category, both of which have higher than company-average selling prices. The increase in volume was driven by strong innovation, partially offset by the higher base period in certain markets and categories due to pandemic-related consumption increases.
- Looking ahead, Procter & Gamble sees overall sales and organic sales growing 2% to 4% from a year ago. The company also expects EPS growth of +3% to +6%. "We expect to continue to grow top-line and bottom-line and to deliver another year of strong cash return to shareholders despite a challenging cost and operating environment," says CEO David Taylor.
- Shares of Procter & Gamble are up 0.80% premarket to $140.60 in premarket action after the earnings beat.