(RTTNews) - While reporting financial results for the third quarter on Friday, consumer goods giant Procter & Gamble Co. (PG) raised its earnings per share and core net earnings per share growth guidance for the full-year 2024, while maintaining its annual all-in sales growth outlook.
For fiscal 2024, the company now expects earnings per share to grow 1 to 2 percent from the base fiscal 2023 earnings of $5.90 per share, implying earnings in a range of $5.96 to $6.02 per share. Previously, earnings per share were expected to be between a decline of 1 percent and flat.
P&G also raised its core net earnings per share growth to a range of 10 to 11 percent from the prior outlook for an 8 to 9 percent growth.
Meanwhile, the company 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.
The Street expects the company to report earnings of $6.45 per share on revenue growth of 3.3 percent to $84.70 billion for the year.
The Company added that its current outlook estimates headwinds of approximately $600 million after-tax from unfavorable foreign exchange and benefit of approximately $900 million after tax due to favorable commodity costs.
P&G continues to expect 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.
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