P&G
So this is from Proctor and Gambles most recent earnings. That unfavorable foreign exchange rates hit them with a 6% cut off their revenue growth
Fiscal Year 2023 Guidance
P&G reduced its guidance range for fiscal 2023 all-in sales to be down three percent to down one percent versus the prior fiscal year. The Company maintained its outlook for organic sales growth in the range of three to five percent. Foreign exchange is now expected to be a six-percentage point headwind to all-in sales growth for the fiscal year.
P&G maintained its outlook for fiscal 2023 diluted net earnings per share growth in the range of in-line to up four percent versus fiscal 2022 EPS of $5.81. The Company added that given increased foreign exchange impacts, it now expects EPS results to be towards the low end of the fiscal year guidance range.
P&G said its current fiscal 2023 outlook includes headwinds of approximately $1.3 billion after-tax due to unfavorable foreign exchange rates, $2.4 billion due to higher commodity and materials costs, and $200 million from higher freight costs. Combined, these items are a $3.9 billion after-tax headwind, or approximately $1.57 per share, to fiscal 2023 earnings versus fiscal 2022, or a headwind of approximately 27 points to EPS growth. The $3.9 billion headwind is an increase of $600 million after-tax versus guidance provided in July, primarily driven by foreign exchange.
