Procter & Gamble recently reported quarterly earnings and revenue that beat analysts’ expectations, thanks to higher prices offsetting lower demand for its products in Europe. The company, which owns household brands like Charmin and Tide, also raised its forecast for organic sales growth for fiscal 2023 to 6%, up from its prior range of 4% to 5%. Although the company’s volume decreased by 3%, this is the fourth consecutive quarter of shrinking volume for P&G. CFO Andre Schulten anticipates that it will take a few more quarters for the company to return to volume growth. P&G’s fabric and home care segment saw its volume fall the most among the company’s business units, declining by 5% primarily in Europe. However, the health and beauty units both saw volume increase by 1%. The stock gained about 3.5% in the key trading session.
Procter & Gamble is one of the most famous names in the consumer products world and its recent strong numbers have added to the upbeat tone for the sector. In the reported quarter, the company's gross margin increased 150 basis points to 48.2%, aided by favorable currency rates. The currency-neutral gross margin also improved by 220 bps to 48.9%. P&G’s raised sales guidance for fiscal 2023 adds to the company’s positive outlook. What are your thoughts? https://stockpick.app/videos/stocks/2248
[link] [comments] https://www.reddit.com/r/stocks/comments/135y2uq/pg_beats_earnings_and_revenue_expectations_raises/
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