From RTTNews:

Procter & Gamble Co. reported that for the second quarter, it has raised its core net earnings per share growth guidance for full-year 2024. This was due to the impairment of the Gillette intangible asset value and a two-year restructuring program. The company now expects earnings per share to be between a decline of 1 percent and flat from the base fiscal 2023 earnings of $5.90 per share. This equates to a range of $5.31 to $5.90 per share.

The company also raised its core net earnings per share growth to a range of 8 to 9 percent from the prior outlook for a 6 to 9 percent growth. This outlook equates to a range of $6.37 to $6.43 per share. Additionally, P&G maintained its guidance range for fiscal 2024 all-in sales growth to be in the range of 2 to 4 percent, and organic sales growth in the range of 4 to 5 percent.

P&G anticipates headwinds of approximately $1.0 billion after-tax from unfavorable foreign exchange and tailwinds of approximately $800 million after-tax due to favorable commodity costs. The company also expects adjusted free cash flow productivity of 90% and expects to pay more than $9 billion in dividends and to repurchase $5 to $6 billion of common shares in fiscal 2024. The Street expects the company to report earnings of $6.41 per share on revenue growth of 3.4 percent to $84.81 billion for the year.



Read more: P&G Boosts FY24 Core EPS Growth Outlook