Consumer Staples

Procter & Gamble (NYSE:PG) Fiscal Q4 Non-GAAP Earnings, Net Sales Rise; Fiscal 2024 Guidance Issued

Procter & Gamble Co. (NYSE:PG) reported fiscal Q4 non-GAAP earnings  of $1.37 per diluted share, up from $1.21 per share a year earlier. Analysts polled by Capital IQ expected adjusted EPS of $1.32. Net sales for the quarter ended June 30 were $20.55 billion, compared with $19.52 billion a year earlier. Analysts surveyed by Capital IQ expected $19.32 billion. For fiscal 2024, the company expects EPS to be between $6.25 and $6.43. Analysts polled by Capital IQ expect EPS of $6.40. All-in sales growth for the fiscal year is projected to be 3% to 4%, while organic sales growth is expected to come in between 4% and 5%.

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Mondelez (NASDAQ:MDLZ) Q2 Earnings, Sales Rise; 2023 Outlook Lifted

Mondelez International (NASDAQ:MDLZ) reported Q2 adjusted earnings  of $0.76 per diluted share, up from $0.65 a year earlier. Analysts polled by Capital IQ expected $0.69. Net revenue for the quarter ended June 30 was $8.51 billion, up from $7.27 billion a year earlier. Analysts surveyed by Capital IQ expected $8.21 billion. The snack company said it now expects 12% organic revenue growth in 2023, up from 10% previously. It also now expects a 12% rise in adjusted EPS on a constant currency basis for the year, up from 10%.

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Coca-Cola (NYSE:KO) expect Q2 earnings of 72 cents , revenue of $11.7 billion

For the second quarter, analysts are expecting Coca-Cola (NYSE:KO) to report earnings of 72 cents a share from revenue of $11.7 billion, according to FactSet. That would be a jump from earnings of 70 cents a share and revenue of $11.3 billion in the second quarter of 2022. “Since KO reported its strong 1Q, we’ve seen several positive read throughs indicating momentum continued into 2Q,” Evercore ISI analyst Robert Ottenstein wrote in a research note last week. “First, PEP delivered a robust 2Q, with pricing-led upside.” He rates Coca-Cola stock at Outperform with a target of $70 for the price. Coca-Cola’s average selling prices increased 11% during its first quarter. The question is whether consumers have remained willing and able to pay up for Coke and the other beverages the company sells.

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PepsiCo (NASDAQ: PEP) Declares Quarterly Dividend

The Board of Directors of PepsiCo, Inc. (NASDAQ: PEP) today declared a quarterly dividend of $1.265 per share of PepsiCo common stock, a 10 percent increase versus the comparable year-earlier period. Today’s action is consistent with PepsiCo’s previously announced increase in its annualized dividend to $5.06 per share from $4.60 per share, which began with the June 2023 payment. This dividend is payable on September 29, 2023 to shareholders of record at the close of business on September 1, 2023.

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