Procter & Gamble Drops 5% As Reported And Projected Earnings Come In Below View

(RTTNews) - Shares of Procter & Gamble Company (PG) are falling more than 5% Friday morning after reporting fourth-quarter earnings below analysts' view. The company's full-year earnings outlook also comes in below consensus estimates.

Net earnings increased to $3.052 billion or $1.21 per share from $2.906 billion or $1.13 per share in the same quarte a year ago, but missed the average estimate of analysts polled by Thomson- Reuters of $1.23 per share.

Net sales for the quarter increased to $19.515 billion from $18.946 billion a year ago. The consensus estimate was for $19.4 billion.

Looking forward to the full year, the company expects EPS growth in the range of 0-4% versus fiscal 2022 EPS of $5.81. At the mid-point of the range, this comes to $5.93 per share. The consensus estimate stands at $6.12 per share.

The company also projects annual all-in sales growth of 0 to 2 percent and organic sales growth of 3 to 5 percent. Analysts see sales growth of 2.2% for the year.

PG, currently at $140.65, has traded in the range of $129.50-$165.35 in the past 52 weeks.