Shares of Procter & Gamble have fallen 21% this year, dragging its market value down to $306.4 billion.
is expected to report its fiscal first-quarter earnings before the bell on Wednesday.Earnings per share: $1.54 expectedthe maker of Tide detergent, Charmin toilet paper and other consumer goods products said it expected higher costs to continue pressuring its profit margins in its new fiscal year. For its fiscal 2023, the company forecast headwinds of $3.3 billion from higher commodity and freight costs, as well as foreign exchange rates.
To mitigate rising costs, the company has been raising prices across its portfolio. But the strategy has been hurting consumer demand for its products. Shoppers have instead been reaching for cheaper alternatives as their budgets are pressured by inflation, with prices surging for everything from butter to airline tickets.
Higher prices, rather than demand, are expected to drive sales growth for P&G this year. In fiscal 2023, it expects to see organic sales growth of 3% to 5%. Concerns about P&G's pricing power, as well as Covid lockdowns in China, have weighed on the stock. Shares of the company have fallen 21% this year, dragging its market value down to $306.4 billion.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Davina McCall shares inspiring take on the menopause'It's my second spring.'
Read more »
If You Like Carbonara, You’ll Love Pasta alla GriciaRome-based cookbook author Katie Parla shares the secret to nailing the trattoria standby at home.
Read more »
Dept. of Ag shares how Alabama farmers can grow hempSince 2018, farmers in the state have been able to grow hemp leaves with certain restrictions and regulations issued by the Alabama Department of Agriculture and Industries.
Read more »
Daniel Dalman shares the Millenial struggle of house hunting in SaskatoonICYMI A vicious circle of escalating prices and interest rates have made upgrading from his condo off Broadway Avenue no easy feat for Daniel Dalman yxe saskatoon realestate
Read more »
We're continuing to reduce our semiconductor exposure with a sale of AMDInvesting Club: We're continuing to reduce our semiconductor exposure with a sale of AMD
Read more »
Monday, Oct. 17, 2022: Why Cramer is trimming shares of this chipmakerJim Cramer and Jeff Marks explain why they are selling shares of one semiconductor name in the portfolio as Jim calls it 'sacrificing the pearls' due to changes in the business and political environment between China and the U.S. They also break down big tech Trust holdings and reiterate the strength they see for specific stocks. Finally, Jim and Jeff talk about one retailer they say you must own.
Read more »