Detail view of rolls of Charmin toilet paper in a domestic home, San Ramon, California, March 25, 2020.
Smith Collection | Gado | Getty Images
Procter & Gamble is expected to report its fiscal fourth-quarter results before the bell Thursday.
Here’s what Wall Street is expecting, based on a survey of analysts from Refinitiv:
- Earnings per share: $1.01 expected
- Revenue: $16.97 billion expected
Last quarter, the consumer packaged goods giant saw its sales soar 10% as shoppers stocked up on its cleaning products and Charmin toilet paper. Investors will be watching to see if P&G’s sales continue to benefit from more consumers staying at home, even as global lockdowns ease.
P&G forecast that adjusted earnings per share, which excludes some items, will be up 8% to 11% for the fiscal year. It’s expecting fiscal 2020 sales growth of 3% to 4%.
P&G executives say that the company is better prepared to enter a recession than in 2008. According to the National Bureau of Economic Research, the U.S. entered a recession in February. And even as other companies are slashing or suspending their dividends, P&G announced in April that it raised its quarterly dividend by 6%.
Shares of the company, which has a market value of $318 billion, have risen 3% so far this year.
This story is developing. Please check back for updates.