P&G CEO Jon Moeller expressed a positive outlook on his company’s future earnings, expecting to rake in $400 million in after-tax profits over the next 12 months as inflation seems likely to continue cooling.
“The US inflation picture is moderating some,” Moeller explained following the company’s earnings report released on Friday morning. He did, however, caution that European resolute inflation could limit the retail giant’s earnings.
Net sales for the second quarter were $20.6 billion, beating the Wall Street consensus estimate of $20.06 billion. Organic sales growth for the period was 8%, outpacing the 5.97% forecast.
Gross profit margins for the quarter were 48.4%, exceeding the 44.6% posted a year ago.
Following the release of its latest earnings figures, P&G released its full-year profit outlook in the range of $6.25 to $6.43 per share. Wall Street estimates stand at $6.38 per share.