P&G Just Made a Big Admission: Should Investors Be Concerned?
Procter & Gamble (NYSE: PG) is a giant in the consumer staples space, with a global portfolio of industry-leading brands and a huge $360 billion market capitalization. The company has long relied on innovation to drive growth in its business and in the categories it serves, which helps to keep it at the top of the industry.
And the second quarter of P&G's fiscal 2024 was another good one, but there were two wrinkles that investors need to understand.
In the second quarter of P&G's fiscal 2024, sales rose 3% year over year. That may sound like a modest number, and it is, but it is a good showing for a consumer staples company. Slow and steady is the normal pace. The big boost across the company's five main businesses came from price increases, which increased sales by 4 percentage points. The big negative in the quarter was the impact of foreign exchange rates, which cost the company 1 percentage point.
Source Fool.com
