Procter & Gamble Raises Full-Year Earnings Forecast Despite Mixed Quarterly Results

The consumer goods giant adjusts its fiscal 2024 earnings projections upward, reflecting easing commodity costs and strategic price increases.

Procter & Gamble now expects core earnings per share growth of 10% to 11% for fiscal 2024, up from the previously forecasted 8% to 9%.
Third-quarter net sales reached $20.20 billion, slightly below the expected $20.41 billion, with mixed performance across different segments.
Net income for the quarter rose to $3.75 billion, marking an increase from $3.40 billion in the same period last year.
Volume growth was reported in the grooming and fabric and home care sectors, while other divisions like health care saw declines.
The company's performance was affected by weaker consumer spending in China and a boycott of Japanese beauty products impacting the SK-II brand.