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Procter & Gamble earnings beat as consumers hang on to pandemic cleaning habits; price hikes ahead

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Containers of Tide detergent on grocery store shelves in New York.
Richard B. Levine | Corbis | Getty Images

Procter & Gamble is expected to report its fiscal third-quarter results before the bell on Tuesday.

Here’s what Wall Street analysts surveyed by Refinitiv are expecting:

  • Earnings per share: $1.19 expected
  • Revenue: $17.9 billion expected

This marks the first quarter that P&G will be facing tough comparisons related to booming coronavirus pandemic sales. A year ago, the consumer goods giant reported quarterly revenue growth of 5%, helped by consumer stockpiling of its Charmin toilet paper and Bounty paper towels.

Wall Street, however, still has high expectations for P&G. Analysts are expecting revenue growth of 4%, based on Refinitiv estimates. As the pandemic subsides, the company is forecasting that some trends will stick around for the long term, like higher demand for cleaning supplies, while others may moderate.

For fiscal 2021, P&G is expecting sales growth of 5% to 6% and adjusted earnings growth of 8% to 10%. In January, the company raised its forecast for the second consecutive quarter.

Shares of P&G have risen 9% over the last 12 months, giving the company a market value of $336 billion.

This story is developing. Please check back for updates.

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