Jim Cramer is bullish on P&G shares after its Q2 earnings

on Jan 19, 2023
  • Procter & Gamble reports roughly in line results for its fiscal Q2.
  • Jim Cramer reiterated his bullish view on P&G shares today.
  • The stock has already climbed roughly 15% since early October.

Follow Invezz on Telegram, Twitter, and Google News for instant updates >

Procter & Gamble Co (NYSE: PG), on Thursday, reported its financial results for the second quarter that came in roughly in line with Street estimates. The stock is still down as shareholders expected more from the consumer goods company.  

Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.

Why are P&G shares down today?

Copy link to section

Shares are responding to shipment volumes that fell a more than expected 6.0% versus last year even though a 10% increase in prices fuelled a 5.0% annualised growth in organic sales on a constant currency basis and excluding acquisitions.

Discussing the prospect of a recession on CNBC’s “Squawk on the Street”, CEO Jon Moeller said:

Things look good across the world. Let’s assume China does recover, U.S. economy continues to be strong, demand for our products continue to be strong, our markets continue to grow. Put that together, and it doesn’t look horrible.

Jim Cramer’s take on P&G shares

Copy link to section

For the full financial year, Procter & Gamble continues to see up to a 4.0% increase in its per-share earnings.

It, however, raised its sales guidance on Thursday and now expects that metric to remain roughly unchanged on a year-over-year basis. Reacting to the earnings print, famed investor Jim Cramer said:

P&G is a dividend aristocrat that does well over time. For the people at home, it’s a terrific idea. I own it for the Charitable Trust. I’ll tell people to buy it at $140, $135. This is a great American company that’s growing organic volume.

Wall Street consensus currently is also to buy P&G shares.

P&G fourth-quarter financial highlights

Copy link to section
  • Earned $3.93 billion versus the year-ago $4.22 billion
  • Per-share earnings also fell from $1.66 to $1.59
  • Adjusted EPS was also $1.59 as per the press release
  • Sales slipped nearly 1.0% year-on-year to $20.77 billion
  • Consensus was $1.59 a share on $20.73 billion revenue

Versus early October, P&G shares are up roughly 15% at writing.


Want easy-to-follow crypto, forex & stock trading signals? Make trading simple by copying our team of pro-traders. Consistent results. Sign-up today at Invezz Signals.

Learn more
USA Manufacturing North America Stock Market World