Procter & Gamble (PG) is expected to report Q3 earnings before the open on Friday, April 27, with a conference call scheduled for 8:30 am ET.
Analysts are looking for a profit of 93c on revenue of $20.3B. The consensus range is 90c-96c for EPS and $19.91B-$20.69B for revenue, according to First Call. On its last call, the company forecast Q3 adjusted EPS of 91c-97c versus consensus at that time of $1.06. That was, however, before the company's sale of its Pringles business to Kellogg (K) for $2.7B. In February, P&G lowered its Q3 adjusted EPS view to 89c-95c, with consensus at that time standing at 95c.
Following the Pringles sale and the announcement of steep company's cost cutting plans, P&G shares were upgraded at Buckingham, BMO Capital and Bank of America Merrill Lynch. More recently, Barclays removed it from its Consumer Staples Favorites List, but kept an Overweight rating on the stock. Since its last quarterly report, P&G's stock has risen about 3.5% and shares are up 17c, or 0.25%, today to $67.06.