By Colin Kellaher


Procter & Gamble Co. on Thursday posted fiscal second-quarter results in line with Wall Street's expectations and bumped up its full-year sales forecast.

The Cincinnati consumer-products giant reported net income of $3.93 billion, or $1.59 a share, for the quarter ended Dec. 31, down from $4.22 billion, or $1.66 a share, a year earlier.

Analysts polled by FactSet, on average, were expecting earnings of $1.59 a share.

Sales fell 1% to $20.77 billion, just above the $20.73 billion Wall Street was expecting. Organic sales, which exclude the impacts of foreign exchange, acquisitions and divestitures, rose 5%, P&G said.

For the full fiscal year, P&G said it now expects reported sales will be flat to down 1%, compared with a prior forecast for a decline of 1% to 3%. The company now expects organic sales will be up 4% to 5% for the year, versus its previous growth forecast of 3% to 5%.

P&G also said it still expects fiscal 2023 per-share earnings will be flat to up 4%, with growth toward the lower end of that range.


Write to Colin Kellaher at


(END) Dow Jones Newswires

January 19, 2023 07:10 ET (12:10 GMT)

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