Procter & Gamble Q1 Results Top Estimates; Backs FY22 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the first quarter on Tuesday, consumer goods giant Procter & Gamble Co. (PG) maintained its full-year 2022 guidance for core earnings per share growth, organic sales growth and all-in sales growth for the year.

For fiscal 2022, the company continues to expect core earnings per share growth in the range of 3 to 6 percent from the base fiscal 2021 core earnings of $5.66 per share. This implies core earnings in a range of $5.83 to $6.0 per share.

The company also still projects full year all-in sales growth and organic sales growth in the range of 2 to 4 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.94 per share on sales growth of 3.70 percent to $78.96 billion for the year. Analysts' estimates typically exclude special items.

Additionally, P&G said it still expects to pay over $8 billion in dividends and repurchase $7 billion to $9 billion of common shares in fiscal 2022.

For the first quarter, the company reported that net earnings and Core earnings per share edged down 1 percent to $1.61 from $1.63 last year. Currency-neutral core earnings per share decreased 3 percent for the quarter.

Net sales for the quarter grew 5 percent to $20.3 billion from a year ago. Excluding the impacts of foreign exchange, acquisitions and divestitures, organic sales increased 4 percent.

Analysts expected the company to report earnings of $1.59 per share on sales of $19.91 billion for the quarter.