P&G reports profit decline but maintains guidance

Procter & Gamble Co. PG, -1.44% shares slipped 0.8% successful Tuesday premarket trading aft the user packaged goods institution reported fiscal Q1 nett that fell versus past year. Net income totaled $4.112 billion, oregon $1.61 per share, down from $4.277 billion, oregon $1.63 per share, past year. Sales of $20.338 cardinal were up from $19.318 cardinal past year. The FactSet statement was for EPS of $1.59 and income of $19.826 billion. Sales successful each segments, including beauty, grooming and cloth attraction were up. P&G brands see Tide, Always, Bounty and Dawn. "These results support america connected way to present our top-line, bottom-line and currency targets for the fiscal year," said Chief Executive David Taylor successful a statement. For afloat fiscal twelvemonth 2022, P&G inactive expects all-in income maturation successful the scope of 2% to 4%, EPS maturation successful the scope of 6% to 9% compared with fiscal 2021 $5.50 past year, and halfway EPS maturation successful the scope of 3% to 6% compared to $5.66. The FactSet statement is for income of $78.866 billion, suggesting maturation of 3.6%, and EPS of $5.93, implying 4.8% growth. P&G banal has risen 2.3% for the twelvemonth to day portion the Dow Jones Industrial Average DJIA, -0.10% is up 15.2% for the period.