Procter & Gamble (NYSE:PG) is expected to reveal modest increases in earnings per share (EPS) and revenue when the consumer products company releases its second quarter 2024 financial results on January 23, 2024.
The analyst consensus forecast is for P&G’s EPS to grow 7.6% year over year to $1.71, while its revenue is expected to rise 4.4% to $21.68 billion, according to the Zacks consensus estimate.
During its previous quarter (1Q), Procter & Gamble (NYSE:PG) topped estimates on both its top and bottom lines even as the company’s volume fell for the sixth consecutive quarter.
Its organic revenue improved by 7% in the quarter, boosted by higher prices for the company’s products such as Tide detergent and Charmin toilet paper.
At the time, P&G reiterated its full-year forecast for organic revenue growth but cautioned that inflationary factors and foreign exchange rates could weaken its performance.
The company also acknowledged that it experienced "pricing-related volume declines" across many of its brands as some shoppers have switched to cheaper private-label alternatives.
Shares of Procter & Gamble eased 0.7% to $149.59 in midday trading on Tuesday.