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Procter & Gamble jumps after first-quarter results beat estimates

By Reuters News7 hours ago Updated

** Shares of Procter & Gamble PG.N up as much as 6.3% to a near eight-month high of $166.72

** Stock set for its best day since March 2020, if gains hold

** Co beats estimates for Q1 revenue on the back of demand for its beauty and home care products

** Q1 net sales rose 4% to $23.28 billion, beating estimates of $22.80 billion - according to data compiled by LSEG

** Q1 core earnings of $2 per share vs estimates of $1.88 per share

** Co sticks to fiscal 2027 targets for organic sales growth between 1% and 3% and core earnings of $7 per share

** "We support P&G's decision to maintain guidance given how early it is in the fiscal year as well as the lack of visibility at the macro level," says RBC analyst Nik Modi

** PG says pricing had a minor positive impact on sales for the quarter

** As of last close, stock up 9.5% YTD

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