(Reuters) – Procter & Gamble Corp reported fourth-quarter sales on Tuesday that fell short of expectations, hurt by weak demand for its hygiene products in China and lower prices for its cleaning products in the United States and Europe.
P&G’s fourth-quarter net sales fell to $20.53 billion (18.96 billion euros), from $20.55 billion a year earlier. Analysts had expected $20.74 billion, according to LSEG data.
Shares of P&G, which owns the Ariel and Gillette brands, fell 2.3% in pre-market trading.
On an adjusted basis, the group recorded a quarterly profit of $1.40 per share, above forecasts of $1.37.
The consumer goods giant expects its earnings per share to rise to $6.91 to $7.05 in fiscal 2025, compared with analysts’ expectations of $6.97 per share.
P&G forecasts sales growth of between 2% and 4% for fiscal 2025, while analysts had expected a 3.04% increase.
Last week, Nestle lowered its full-year organic growth forecast to reflect a faster-than-expected fall in prices, while Unilever posted lower-than-expected underlying sales for the second quarter.
(Writing by Ananya Mariam Rajesh in Bangalore; Editing by Kate Entringer)
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