News & Analysis
News & Analysis

Procter & Gamble Company exceeds expectations – the stock rises

22 April 2023 By Klavs Valters

Share

Procter & Gamble Company (NYSE: PG) announced third quarter fiscal 2023 before the opening bell in the US on Friday.

World’s largest consumer goods company beat both revenue and earnings per share estimates for the quarter, sending the stock higher.

Company overview

    • Founded: October 31, 1837
    • Headquarters: Cincinnati, Ohio, United States
    • Number of employees: 101,000 (2021)
    • Industry: Consumer goods
  • Key people: David S. Taylor (Executive Chairman), Jon R. Moeller (President and CEO)

The results

The company reported revenue of $20.1 billion vs. $19.28 billion expected.

EPS reported at $1.37 per share vs. analyst estimate of $1.323 per share.

CEO commentary

”We delivered strong results in the third quarter of fiscal year 2023 in what continues to be a very difficult cost and operating environment,” Jon Moeller, CEO of Procter & Gamble said about the latest results in a press release.

”Our team’s strong execution of our strategies and our progress through three quarters enable us to raise our fiscal year outlook for sales growth and cash return to shareowners and maintain our guidance range for EPS growth despite continued cost and foreign exchange headwinds. We remain committed to our integrated strategies of a focused product portfolio of daily use categories where performance drives brand choice, superiority, productivity, constructive disruption and an agile and accountable organization structure. These strategies have enabled us to build and sustain strong momentum, and we’re confident they remain the right strategies to deliver balanced growth and value creation going forward,” he concluded.

The latest results had a positive impact on the stock on Friday.

Share price was up by around 3%, trading at around $156.44 a share.

Stock performance

  • 1 month: +6.58%
  • 3 months: +9.38%
  • Year-to-date: +3.18%
  • 1 year: -3.02%

Procter & Gamble price targets

  • Stifel Nicolaus: $147
  • Berenberg Bank: $141
  • Evercore ISI: $160
  • Wells Fargo: $162
  • CFRA: $152

Procter & Gamble Company is the 20th largest company in the world with a market cap of $369.12 billion, according to CompaniesMarketCap.

You can trade Procter & Gamble Company (NYSE: PG) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD.

Sources: Procter & Gamble Company, TradingView, MarketWatch, MetaTrader 5, TipRanks, CompaniesMarketCap, Wikipedia

The information provided is of general nature only and does not take into account your personal objectives, financial situations or needs. Before acting on any information provided, you should consider whether the information is suitable for you and your personal circumstances and if necessary, seek appropriate professional advice. All opinions, conclusions, forecasts or recommendations are reasonably held at the time of compilation but are subject to change without notice. Past performance is not an indication of future performance. Go Markets Pty Ltd, ABN 85 081 864 039, AFSL 254963 is a CFD issuer, and trading carries significant risks and is not suitable for everyone. You do not own or have any interest in the rights to the underlying assets. You should consider the appropriateness by reviewing our TMD, FSG, PDS and other CFD legal documents to ensure you understand the risks before you invest in CFDs. These documents are available here.