2024-04-15 09:00:07 ET
Summary
- The Procter & Gamble Company is set to report its Q3 fiscal 2024 earnings on Friday, April 19 before the market opens.
- In this earnings preview, I share my thoughts on Procter & Gamble's previous earnings and what can be expected from the upcoming report.
- I provide an update on the company's operating fundamentals, with an emphasis on profitability, balance sheet quality, and dividend safety.
- I also take a look at how much of Procter & Gamble's reported growth is actually due to internal growth and quantify the impact of share buybacks.
- Finally, I give a brief valuation update and share whether I think PG stock is a good buy ahead of Q3 FY2024 earnings.
Introduction
Consumer goods blue chip The Procter & Gamble Company ( PG ) is one of those stocks that I sometimes forget about, mainly because of its reliable performance. That's also why I've only covered it once here on Seeking Alpha, in a comparative analysis with Unilever PLC ( UL ). PG is one of those stocks that requires relatively little recurring due diligence, largely due to its leading portfolio of consumer brands, good cash flow conversion, and its robust balance sheet.
Recently, P&G's Board of Directors approved a 7.0% dividend increase – which is fabulous news, as dividend increases are the primary way investors can be assured that the purchasing power of their income will at least be maintained ( explained in detail here ). Next up is Procter & Gamble's Q3 FY2024 earnings report, which will be released on Friday, April 19 , before the market opens....
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For further details see:
Procter & Gamble Q3 Earnings Preview: Still A Good Dividend Growth Stock?