The Procter & Gamble Company (NYSE: PG) reported its financial results for the quarter ended March 31, 2020 today.
Procter & Gamble posted a 6% increase in earnings for the third quarter of 2020 driven by higher revenue. There was strong consumer demand in North America and certain European markets due to the COVID-19 pandemic. This was partially offset by volume decreases in certain Asian markets due primarily to temporary disruption of consumer access to retail markets.
The company adjusted its outlook for fiscal 2020 all-in sales growth, from a range of 4-5% growth to a range of 3-4% growth, to reflect stronger headwinds from foreign exchange. The guidance for organic sales growth was maintained in the range of 4-5% and for all-in GAAP EPS growth at 235-245%. The core EPS growth outlook is maintained at 8-11%. The company expects to pay over $7.5 billion in dividends and repurchase $7-8 billion of common shares in fiscal 2020.
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