The Procter & Gamble Company PG is set to report fourth-quarter fiscal 2021 results on Jul 30, before the opening bell. The Zacks Consensus Estimate for the company’s fiscal fourth-quarter earnings stands at $1.1 per share, indicating a 5.2% decrease from the year-ago quarter’s reported figure. However, the consensus mark has moved north in the past 30 days. For fiscal fourth-quarter revenues, the consensus mark is pegged at $18.3 billion, suggesting 3.3% growth from the prior-year quarter’s reported figure.For fiscal 2021, the Zacks Consensus Estimate for the company’s earnings stands at $5.63 per share, indicating almost 10% growth from the year-ago quarter’s reported figure. The consensus mark for fourth-quarter revenues is pegged at $75.5 billion, suggesting a rise of 6.4% from the prior-year quarter’s reported figure.In the last reported quarter, the company delivered an earnings surprise of 6.8%. Its bottom line beat estimates by 11.1%, on average, over the trailing four quarters.Key Factors to NoteProcter & Gamble has been gaining from strength across all segments coupled with robust pricing and mix. Continued consumer demand for its hand soaps, detergents and surface cleaning products bodes well. The continued demand momentum is reflected by the underlying strength in brands and appropriate strategies, which have been aiding organic sales growth. Moreover, growth of premium home, health and hygiene products and strength in the North American and Greater China regions act as key growth drivers. Such endeavors are likely to have aided revenues in the to-be-reported quarter. It anticipated all-in and organic sales growth of 5-6% each in fiscal 2021, in its last-quarter earnings call.The company also remains focused on productivity and cost-saving plans to boost margins. Continued investments in business alongside efforts to offset macro cost headwinds and balance top and bottom-line growth underscore its productivity efforts. It has been witnessing cost savings and efficiency improvements across all facets of the business, driven by its second five-year productivity program. Gains from productivity savings and pricing have been aiding its margins and bottom line and the trend is likely to have continued in the fiscal fourth quarter. In its last earnings call, management had anticipated core earnings per share for fiscal 2021 to grow 8-10%.However, elevated costs related to marketing reinvestments, and higher freight and commodity costs remain concerns. The company’s core earnings per share guidance includes an impact of more than $200 million and $125 million from higher freight costs and commodity costs, respectively, in fiscal 2021. Currency headwinds to the tune of $150 million are likely to have hurt the bottom line in the said period.Procter & Gamble Company The Price and EPS Surprise Procter & Gamble Company The price-eps-surprise | Procter & Gamble Company The QuoteZacks ModelOur proven model predicts an earnings beat for Procter & Gamble this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Procter & Gamble has a Zacks Rank #3 and an Earnings ESP of +0.46%. You can see the complete list of today’s Zacks #1 Rank stocks here.Other Stocks With Favorable CombinationsHere are some companies you may want to consider, as our model shows that these have the right combination of elements to deliver an earnings beat.Darlings Ingredients Inc. DAR has an Earnings ESP of +10.09% and a Zacks Rank #1, at present.Medifast MED has an Earnings ESP of +7.27% and, presently, a Zacks Rank #2.Tyson Foods TSN currently has an Earnings ESP of +9.03% and a Zacks Rank #2. +1,500% Growth: One of 2021’s Most Exciting Investment Opportunities In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second. Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.Click here to download this report FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Procter & Gamble Company The (PG): Free Stock Analysis Report Tyson Foods, Inc. (TSN): Free Stock Analysis Report Darling Ingredients Inc. (DAR): Free Stock Analysis Report MEDIFAST INC (MED): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research