{"id":119059,"date":"2021-07-30T16:48:12","date_gmt":"2021-07-30T16:48:12","guid":{"rendered":"https:\/\/fin2me.com\/?p=119059"},"modified":"2021-07-30T16:48:12","modified_gmt":"2021-07-30T16:48:12","slug":"pg-forecasts-higher-annual-earnings-despite-2-billion-input-costs","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/pg-forecasts-higher-annual-earnings-despite-2-billion-input-costs\/","title":{"rendered":"P&G forecasts higher annual earnings despite $2 billion input costs"},"content":{"rendered":"

(Reuters) -Procter & Gamble Co expects higher core earnings this year despite warning of a nearly $2 billion hit from rising commodity and transportation expenses, relying on price increases and cost cuts to cushion the hit to its margins.<\/p>

Slideshow ( 2 images )<\/span><\/figcaption>

Shares of the company, which also named a new CEO on Thursday, rose 2.7% to $143.28 after it reported fourth-quarter results that beat estimates.<\/p>\n

Higher freight and commodity costs for everything from palm oil to plastics due to pandemic-led disruptions have forced many consumer goods firms to raise prices, including P&G, which hiked prices in emerging markets and on products such as Pampers diapers in the U.S. earlier this year.<\/p>\n

P&G still faced significant input costs across most of its commodity basket, with pulp, resin and polypropylene being some of the top drivers, CFO Andre Schulten said on Friday.<\/p>\n

The company also expects a $100 million higher transportation bill this year, mainly in the United States, where a driver shortage is causing disruptions, Schulten added.<\/p>\n

Unilever and Reckitt Benckiser Group are some of the other major consumer goods companies to warn of soaring costs squeezing profits this year.<\/p>\n

Consumer spending in the United States rose more than expected in June, partly due to higher prices, with annual inflation accelerating further above the Federal Reserve\u2019s 2% target.<\/p>\n

P&G expects a roughly $1.9 billion after-tax hit from input costs this year, which it plans to offset through an increase in sales, cost cuts across the company and further price hikes.<\/p>\n

On Thursday, the company said David Taylor would be stepping down as chief executive officer in November, handing over the reins to company veteran Jon Moeller.<\/p>\n

Moeller, the company\u2019s current chief operating officer, said on Friday that he currently does not expect any major strategy changes after taking over.<\/p>\n

Procter & Gamble forecast fiscal 2022 core earnings per share to rise 3% to 6%, to between $5.82 and $6.00, the mid-point of which was above the $5.90 that analysts were expecting, according to Refinitiv IBES data.<\/p>\n

The company expects full-year net sales to rise 2% to 4%.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) -Procter & Gamble Co expects higher core earnings this year despite warning of a nearly $2 billion hit from rising commodity and transportation expenses, […]<\/p>\n","protected":false},"author":3,"featured_media":119058,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nP&G forecasts higher annual earnings despite $2 billion input costs - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/pg-forecasts-higher-annual-earnings-despite-2-billion-input-costs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"P&G forecasts higher annual earnings despite $2 billion input costs - Fin2me\" \/>\n<meta property=\"og:description\" content=\"(Reuters) -Procter & Gamble Co expects higher core earnings this year despite warning of a nearly $2 billion hit from rising commodity and transportation expenses, [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/pg-forecasts-higher-annual-earnings-despite-2-billion-input-costs\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-30T16:48:12+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/07\/PG-forecasts-higher-annual-earnings-despite-2-billion-input-costs.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/pg-forecasts-higher-annual-earnings-despite-2-billion-input-costs\/\",\"url\":\"https:\/\/fin2me.com\/markets\/pg-forecasts-higher-annual-earnings-despite-2-billion-input-costs\/\",\"name\":\"P&G forecasts higher annual earnings despite $2 billion input costs - Fin2me\",\"isPartOf\":{\"@id\":\"https:\/\/fin2me.com\/#website\"},\"datePublished\":\"2021-07-30T16:48:12+00:00\",\"dateModified\":\"2021-07-30T16:48:12+00:00\",\"author\":{\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/fin2me.com\/markets\/pg-forecasts-higher-annual-earnings-despite-2-billion-input-costs\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/fin2me.com\/markets\/pg-forecasts-higher-annual-earnings-despite-2-billion-input-costs\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/fin2me.com\/markets\/pg-forecasts-higher-annual-earnings-despite-2-billion-input-costs\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/fin2me.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Markets\",\"item\":\"https:\/\/fin2me.com\/category\/markets\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"P&G forecasts higher annual earnings despite $2 billion input costs\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/fin2me.com\/#website\",\"url\":\"https:\/\/fin2me.com\/\",\"name\":\"Fin2me\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/fin2me.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"Mark\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"caption\":\"Mark\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"P&G forecasts higher annual earnings despite $2 billion input costs - Fin2me","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fin2me.com\/markets\/pg-forecasts-higher-annual-earnings-despite-2-billion-input-costs\/","og_locale":"en_US","og_type":"article","og_title":"P&G forecasts higher annual earnings despite $2 billion input costs - Fin2me","og_description":"(Reuters) -Procter & Gamble Co expects higher core earnings this year despite warning of a nearly $2 billion hit from rising commodity and transportation expenses, [...]","og_url":"https:\/\/fin2me.com\/markets\/pg-forecasts-higher-annual-earnings-despite-2-billion-input-costs\/","og_site_name":"Fin2me","article_published_time":"2021-07-30T16:48:12+00:00","author":"Mark","twitter_card":"summary_large_image","twitter_image":"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/07\/PG-forecasts-higher-annual-earnings-despite-2-billion-input-costs.jpg","twitter_misc":{"Written by":"Mark","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/fin2me.com\/markets\/pg-forecasts-higher-annual-earnings-despite-2-billion-input-costs\/","url":"https:\/\/fin2me.com\/markets\/pg-forecasts-higher-annual-earnings-despite-2-billion-input-costs\/","name":"P&G forecasts higher annual earnings despite $2 billion input costs - Fin2me","isPartOf":{"@id":"https:\/\/fin2me.com\/#website"},"datePublished":"2021-07-30T16:48:12+00:00","dateModified":"2021-07-30T16:48:12+00:00","author":{"@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/fin2me.com\/markets\/pg-forecasts-higher-annual-earnings-despite-2-billion-input-costs\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fin2me.com\/markets\/pg-forecasts-higher-annual-earnings-despite-2-billion-input-costs\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/fin2me.com\/markets\/pg-forecasts-higher-annual-earnings-despite-2-billion-input-costs\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fin2me.com\/"},{"@type":"ListItem","position":2,"name":"Markets","item":"https:\/\/fin2me.com\/category\/markets\/"},{"@type":"ListItem","position":3,"name":"P&G forecasts higher annual earnings despite $2 billion input costs"}]},{"@type":"WebSite","@id":"https:\/\/fin2me.com\/#website","url":"https:\/\/fin2me.com\/","name":"Fin2me","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fin2me.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"Mark","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fin2me.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","caption":"Mark"}}]}},"_links":{"self":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/119059"}],"collection":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/comments?post=119059"}],"version-history":[{"count":0,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/119059\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media\/119058"}],"wp:attachment":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media?parent=119059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/categories?post=119059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/tags?post=119059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}