Consumer products behemoth Proctor & Gamble (NYSE: PG) will be announcing earnings results this Friday before market open. Here’s what to expect.
Procter & Gamble met analysts’ revenue expectations last quarter, reporting revenues of $22.21 billion, up 1.5% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ EBITDA estimates but revenue in line with analysts’ estimates.
Is Procter & Gamble a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Procter & Gamble’s revenue to grow 3.7% year on year, a reversal from the 2.1% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Procter & Gamble has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Procter & Gamble’s peers in the consumer staples segment, some have already reported their Q1 results, giving us a hint as to what we can expect. WD-40 delivered year-on-year revenue growth of 10.7%, beating analysts’ expectations by 4.7%, and Cal-Maine reported a revenue decline of 53%, topping estimates by 3.8%. WD-40 traded down 4% following the results while Cal-Maine was also down 1.3%.
Read our full analysis of WD-40’s results here and Cal-Maine’s results here.
There has been positive sentiment among investors in the consumer staples segment, with share prices up 4.6% on average over the last month. Procter & Gamble’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $163.59 (compared to the current share price of $142.97).
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