Procter & Gamble Tosses an Extra $2 Billion to Shareholders
There's no sign of a growth slowdown yet in Procter & Gamble's (NYSE: PG) business. Investors were feeling cautious heading into the consumer staples giant's fiscal second-quarter report this week on worries that its sales spike might be ending soon. But P&G instead turned in another quarter of surprisingly strong revenue and profit metrics that convinced management to raise its 2021 outlook -- and cash return targets -- a second consecutive time.
Let's dive right in.
P&G's big-picture growth rate stayed elevated, with organic sales landing at 8%, or just slightly below the 9% surge the company achieved in its fiscal first quarter. That boost beat management's expectations and likely translated into market-share wins against rivals like Kimberly-Clark, which has been growing sales at a 6% rate in recent quarters .
Source Fool.com
