Procter & GambleHere's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Revenue: $21.74 billion vs. $21.91 billion expected
The company reported flat volume for the quarter. The metric excludes pricing, which makes it a more accurate reflection of demand than sales. Like many consumer companies, P&G has seen demand for its products fall after several years of price hikes. Last quarter was the first time in more than two years that its volume increased.
P&G's beauty business, which includes brands like Pantene and Olay, saw volume fall 2% in the quarter. In particular, its skin care segment struggled, with organic sales tumbling more than 20%. P&G blamed the steep decline on lower volume and decreased sales of its pricey SK-II brand, which has struggled ever since pandemic lockdowns.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Top 3 Risk-Averse Stocks to Add Stability to Your PortfolioStocks Analysis by MarketBeat.com (Jeffrey Neal Johnson) covering: Johnson & Johnson, Procter & Gamble Company, Nextera Energy Inc. Read MarketBeat.com (Jeffrey Neal Johnson)'s latest article on Investing.com
Read more »
Cramer's week ahead: Major banks, Taiwan Semi and Netflix report as earnings season gets into full swingCharles Schwab, Bank of America, Johnson & Johnson, Walgreens, UnitedHealth Group Morgan Stanley, Procter & Gamble and Abbott Laboratories all report earnings.
Read more »