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![Procter & Gamble Co [PG] reports quarterly net loss of $3.8 billion](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FPG.png&w=1200&q=75)
PROCTER & GAMBLE Co [PG] has reported a net loss of $3.8 billion for quarter ended Jun 30, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the quarter was $20.2 billion
Based in Cincinnati, Ohio, PROCTER & GAMBLE Co operates in the MANUFACTURING sector.
In the quarter ended March 31, 2024, Procter & Gamble reported Net Sales of $20.2 billion, a slight increase from the $20.1 billion reported in the same period the previous year. The Cost of Products Sold decreased from $10.4 billion in 2023 to $9.9 billion in 2024, indicating improved operational efficiency.
The Operating Income for the quarter was $4.46 billion, up from $4.25 billion in the prior year's quarter. This reflects better management of expenses and higher profitability. Net Earnings for the quarter stood at $3.78 billion, compared to $3.42 billion in the same period last year, showing improved bottom-line performance.
The Basic Net Earnings per Common Share for the quarter were $1.56, higher than the $1.41 reported in the previous year's quarter. Similarly, the Diluted Net Earnings per Common Share increased from $1.37 in 2023 to $1.52 in 2024.
In the nine months ended March 31, 2024, Procter & Gamble recorded Net Sales of $63.5 billion, compared to $61.5 billion in the corresponding period in 2023, indicating a growth in revenue. The Cost of Products Sold decreased from $32.1 billion in 2023 to $30.5 billion in 2024, resulting in improved gross margin.
The Net Income attributable to the parent company for the nine months ended March 31, 2024, was $11.7 billion, up from $11.3 billion in the same period last year. This signifies continued profitability and financial strength. The Basic Net Earnings per Common Share for the nine months were $4.89, while the Diluted Net Earnings per Common Share were $4.75, both showing an increase from the previous year.
Procter & Gamble's financial performance in the current reporting period reflects positive growth in revenue, improved cost management, and enhanced profitability, positioning the company well for future expansion and success.
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