Detail view of rolls of Charmin toilet paper in a domestic home, San Ramon, California, March 25, 2020.
Smith Collection | Gado | Getty Images
Procter & Gamble will report its fiscal third-quarter earnings before the bell Friday.
The coronavirus pandemic has shifted consumer behavior, leading to spikes in demand for some P&G products, like Charmin toilet paper. It has also put pressure on the company’s supply chain.
Wall Street is anticipating earnings per share of $1.13 on revenue of $17.46 billion, based on a survey of analysts by Refinitiv. However, it’s difficult to compare reported earnings to analyst estimates for P&G’s quarter, as the coronavirus pandemic continues to hit global economies and makes earnings impact difficult to assess.
The Vicks owner was originally slated to report its results Tuesday. The company said moving up the date of the release “should not be construed as an indication of either positive or negative results.”
In mid-February, the company warned that its third-quarter profits and revenue would take a hit as the Covid-19 outbreak caused supply chain interruptions and weaker demand in China. Still, the company reaffirmed its fiscal 2020 forecast of sales growth in a range of 4% to 5% and core earnings per share growth of 8% to 11%.
And even as other firms are slashing or suspending their dividends, P&G announced on Tuesday that it would be raising its quarterly dividend by 6%.