5 Companies Making Noise After Posting Their Earnings Reports

2. The Procter & Gamble Company (NYSE:PG)

Number of Hedge Fund Holders: 67

Share of The Procter & Gamble Company (NYSE:PG) closed higher on Wednesday, April 20, 2022, after announcing better-than-expected financial results for its fiscal third quarter. The consumer goods giant benefitted from price hikes that reduced the negative impact of inflation.

The Procter & Gamble Company (NYSE:PG) reported adjusted earnings of $1.33 per share, up from $1.26 per share in the year-ago period. Revenue for the quarter rose 7 percent versus last year to $19.38 billion. Analysts were looking for earnings of $1.29 per share on revenue of $18.73 billion.

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The Procter & Gamble Company (NYSE:PG) also raised the sales outlook for its fiscal 2022. It now expects revenue growth in the range of 4 – 5 percent versus its previous forecast of 3 – 4 percent.

Speaking on the results, CEO Jon Moeller said:

“We delivered another quarter with strong sales growth and made sequential earnings growth progress despite significant and increasing cost headwinds. These results enable us to raise our top-line growth outlook for the fiscal year and to maintain our EPS guidance range.”