By Mackenzie Tatananni

Procter & Gamble stock rose in premarket trading Tuesday after the consumer-staples company reported fiscal second-quarter sales and earnings that surpassed Wall Street expectations.

Shares of Procter & Gamble were up 3% to $166.49. The maker of Dawn soap and Crest toothpaste reported sales of $21.9 billion for the quarter ended Dec. 31, topping Wall Street projections of $21.5 billion. Earnings of $1.88 a share beat estimates of $1.86.

CEO Jon Moeller nodded to the company's acceleration in organic sales growth, core earnings per share growth, and "strong cash return to shareowners" in the quarter.

"Our first-half results keep us on track to deliver within our guidance ranges on all key financial metrics for the fiscal year," Moeller said.

The company maintained its guidance range for fiscal 2025, anticipating all-in sales growth in the range of 2% to 4% from the previous year.

The combined headwinds from foreign exchange and divestitures are expected to negatively impact growth, the company noted.

Procter & Gamble also reiterated its forecast for core earnings per share in the range of $6.91 to $7.05. Analysts polled by FactSet expect earnings of $6.94 a share, slightly below the midpoint.

Louis Navellier, founder and chairman of Navellier & Associates, noted that the company's results provide a glimpse into the state of consumer spending.

"They have to explain how they can succeed despite the strong dollar and overcome weakened global demand due to recession outside of the U.S.," Navellier said, describing the company's guidance as "crucial."

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com

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January 22, 2025 07:21 ET (12:21 GMT)

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