Consumer Staples

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We cut our 12-month target by $10 to $157, 24x our FY24 (Jun.) EPS view of $6.55 (up $0.15; FY25 EPS down $0.36 to $6.86), in line with the one-year forward P/E average. F1Q EPS of $1.83 beat by $0.11 on revenue of $21.9B, in line with consensus. Pricing (+7.0%) and volume (-1.0%) were in line with F4Q, though mix came in lower by 100 bps, while tapering FX headwinds of 1% vs. 3% in F4Q offered some relief. Operating margin (+240 bps Y/Y) benefited from pricing, lower input costs, and productivity savings, partially offset by higher marketing costs and wage inflation. PG remains bullish on China, citing projected middle-income consumer growth. Near-term, we view PG as minimally exposed to private label vs. peers, as its portfolio

Procter & Gamble (NYSE:PG)  Fiscal Year 2024 Guidance P&G adjusted its guidance range for fiscal 2024 all-in sales growth to be in the range of two to four percent versus the prior year. Foreign exchange is now expected to be a headwind of approximately one to two percentage points to all-in sales growth. The Company maintained its outlook for organic sales growth in the range of four to five percent. P&G maintained its fiscal 2024 diluted net earnings per share growth in the range of six to nine percent versus fiscal 2023 EPS of $5.90. This outlook equates to a range of $6.25 to $6.43 per share. The Company highlighted that it is maintaining the EPS range despite an incremental $600 million dollars after tax of foreign exchange headwinds since its initial fiscal 2024 guidance in late July.

Procter & Gamble (NYSE:PG) Announces Fiscal Year 2024 First Quarter Results Net Sales +6%; Organic Sales +7% Diluted EPS and Core EPS $1.83, each +17% UPDATES ALL-IN SALES GROWTH OUTLOOK October 18, 2023– The Procter & Gamble Company (NYSE:PG) reported first quarter fiscal year 2024 net sales of $21.9 billion, an increase of six percent versus the prior year. Organic sales, which excludes the impacts of foreign exchange and acquisitions and divestitures, increased seven percent. Diluted net earnings per share were $1.83, an increase of 17% versus prior year. Operating cash flow was $4.9 billion, and net earnings were $4.6 billion for the quarter. Adjusted free cash flow productivity was 97%, which is calculated as operating cash flow excluding capital spending and certain other items, as a percentage of net earnings. The Company returned $3.8 billion of cash to shareowners via approximately $2.3 billion of dividend payments and $1.5 billion

Procter & Gamble (NYSE:PG) Still Sees FY24 EPS Growth in Range of Up 6%-9% Vs. FY23 EPS $5.90。

Procter & Gamble (NYSE:PG) Q1 Sales $21.9 Bln, up 6%; FactSet Consensus $21.6 Bln。