RBC Capital analysts provided their views on Procter & Gamble (NYSE:PG) ahead of the upcoming Q3/23 earnings report, scheduled on Friday.
The analysts expect organic sales growth of 4% (in-line with the Street) and EPS of $1.33 (vs. Street’s $1.32).
The analysts expect US trends to lead the way with softer trends internationally (Europe and China–though early signs of recovery in China). After years of China’s strict no-COVID policy, analysts are beginning to see signs of a less restrictive policy. While the analysts do not expect China reopening to be a linear recovery process and still expect it to be a headwind in the quarter, they believe early indicators would suggest a recovery in China is in place and expect it will strengthen markedly into H2/23.