Procter & Gamble raises its growth outlook

The American group of hygiene and care products Procter & Gamble published on Friday an increase in quarterly turnover and revised upwards its outlook for revenue growth for 2023.

In the third quarter of its staggered fiscal year, Procter & Gamble – which notably markets Gillette razors, Pampers nappies or Tide detergent – ​​posted a turnover of 20.1 billion US, an increase of 4% over one year. (+ 7% at constant scope and exchange rates), he said in a press release. This is more than expected by a consensus of analysts polled by Factset.

This growth was supported by higher prices, which compensated for lower volumes. Sales were boosted in particular by the health products division (6%, 9% at constant scope and exchange rates).

Over the past quarter, Procter & Gamble’s net profit was US$3.4 billion, up slightly (1%). Excluding exceptional items, earnings per share, which refers to Wall Street, is also in the green (3%), at US$1.37, again above expectations.

On the strength of these results, the company has therefore revised its outlook for 2023 upwards. Procter & Gamble now anticipates an increase in turnover of around 1% this year, against “- 1% to stable” previously. advertisement. Organic growth should reach 6% over one year, against 4 to 5% previously announced.

Procter & Gamble, however, does not change its outlook for earnings per share excluding exceptional items, still expected to be between stable at 4% compared to its level of last year (5.81 $ US).

The announcement was well received by the markets. Procter & Gamble stock gained 3.5% on Friday to close at US$156.07 on Wall Street.