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P&G reports net income of $4.2 billion in Q2 2022

In the annual comparison, there was an increase of 10%

Procter & Gamble, an American multinational of consumer goods, reported a net income of US$ 4.2 billion in the second fiscal quarter of 2022, recorded between the months of October and December of last year. In the annual comparison, there was an increase of 10%.

Net income was $1.66 per share – above market expectations, which projected earnings of $1.65 per share, according to FactSet.

The company added US$ 20.9 billion in revenues, surpassing the projection of US$ 20.3 billion for the period and reaching a number 6% higher than the one seen in the same period of 2020.

“We delivered very strong top-line growth and made sequential progress on earnings in the face of significant cost headwinds,” said Jon Moeller, President and Chief Executive Officer. “These results keep us on track to deliver our earnings outlook and to raise estimates for sales growth, cash productivity and cash return to shareowners. Our focus remains on the strategies of superiority, productivity, constructive disruption and continually improving P&G’s organization structure and culture.”

The expectation for this year is a sales increase of 3% to 4%, and for organic growth it is between 4% and 5%. Earnings per share could rise 6% to 9% during 2022. With commodity, freight and foreign exchange costs, P&G’s earnings per share are estimated at $1.10.

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