Procter & Gamble Reports Slight Revenue Rise Amid Price Hikes, Cuts Full-Year Earnings Outlook

Procter & Gamble reported a 1% increase in fiscal second-quarter revenue to $22.21 billion on Jan. 22, driven by higher prices that offset declining volumes, while the company lowered its full-year earnings forecast due to elevated restructuring charges. Net income fell to $4.32 billion, or $1.78 per share, from $4.63 billion, or $1.88 per share, a year earlier, primarily due to higher restructuring costs. Adjusted earnings of $1.88 per share beat analysts’ expectations of $1.86. Organic sales were flat overall, with gains in beauty (4%) and healthcare (3%), but a 4% drop in baby, feminine and family-care. P&G now forecasts fiscal-year net EPS growth of 1% to 6%, down from prior guidance of 3% to 9%, citing noncore restructuring expenses. It maintains adjusted EPS growth of flat to 4% and expects commodity costs to be neutral after tax, compared to a previous $100 million headwind. Tariffs are still projected to add $400 million in costs. Shares rose 2.3% to $149.34.