Why Procter & Gamble (PG) Shares Are Sliding Today - Procter & Gamble (NYSE:PG)

Procter & Gamble Co PG reported fourth-quarter FY22 sales growth of 3% year-on-year to $19.52 billion, beating the consensus of $19.37 billion.
The sales growth was driven by an eight percent increase in pricing, partially offset by a one percent decrease in volume primarily due to pandemic-related lockdowns in Greater China and reduced operations in Russia.
Sales in the beauty segment fell 1%, the Grooming segment declined 3%, and Health Care rose 5%.
Adjusted EPS of $1.21 missed the consensus of $1.23.
Gross profit decreased 5% Y/Y to $8.7 billion. Gross margin decreased by 370 basis points to 44.6%.
Operating margin contracted 30 basis points to 18.4% while operating income for the quarter rose 2% to $3.6 billion.
P&G held $7.2 billion in cash and equivalents as of June 30, 2022.
"As we look forward to fiscal 2023, we expect another year of significant headwinds," said Chairman and CEO Jon Moeller.
Outlook: P&G expects FY23 sales growth to be in-line to 2% compared to 2022.
The company sees FY23 EPS of $5.93 at the mid-point versus the consensus of $6.12.
Price Action: PG shares are trading lower by 3.26% at $143.24 in premarket on the last check Friday.
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Procter & Gamble Shares Slide On Q4 EPS Miss, FY23 EPS Outlook