Procter & Gamble (PG) Q2 2022 earnings

Procter & Gamble is scheduled to report its fiscal second-quarter earnings before the bell Wednesday.

Here’s what Wall Street analysts surveyed by Refinitiv are expecting:

• Earnings per share: $1.65 expected
• Revenue: $20.34 billion expected

For fiscal 2022, the consumer giant is calling for sales to grow 2% to 4% from the prior year and core earnings per share to increase by 3% to 6%. The company is also forecasting after-tax commodity costs of $2.1 billion and freight expenses of $200 million to weigh on its fiscal 2022 results.

Last quarter, the company raised its outlook for inflation and announced price hikes for more products in its portfolio. Investors will also be watching to see if the price hikes that P&G implemented to offset inflation have led cash-strapped consumers to trade down to private label alternatives.

The company has said that it plans to introduce more innovation this year so the value of products rises in sync with their price tags. Earlier in January, P&G introduced an upside-down bottle for its Dawn dish soap.

P&G has also been looking for growth through acquisitions, particularly in the beauty category. In November, the company bought Farmacy Beauty, followed by hair-care brand Ouai in December and Tula Skincare in January.

This also marks the first quarter with Jon Moeller as chief executive. Former CEO David Taylor stepped down in November after six years in the top job.

Shares of P&G have climbed 17% in the last 12 months, giving the company a market value of $379 billion.