Procter & Gamble's financial performance for the January to March 2024 quarter showed a 3% increase in pricing but no change in volume. Despite beating earnings expectations, the company's sales fell short, leading to a 1.8% pre-market decline. P&G raised its annual core profit forecast due to price hikes and cost reductions. The company's profits rose despite challenges from Middle East tensions and a 10% decline in organic sales in the China Beauty market, with expectations of returning to growth in the coming quarters.
🇺🇸 Procter & Gamble sales disappoint as price hikes slow down https://t.co/8LBpAZEPU6
P&G $PG on China Beauty market (FY24Q3 call) "Organic sales were down 10% ... still impacted by weak underlying market conditions and headwinds for SK-II and other Japanese brands" "Some month-to-month improvement ... (but) another quarter or two until we return to growth" $EL… https://t.co/1BaRTBTzNJ
P&G $PG on China Beauty market (FY24Q3 call) "Organic sales were down 10% ... still impacted by weak underlying market conditions and headwinds for SK-II and other Japanese brands" "Some month-to-month improvement ... (but) another quarter or two until we return to growth" https://t.co/X35McXVkVP
P&G profits rise despite hit from Middle East tensions https://t.co/gNu7aUOV4D
$PG (-1.8% pre) Procter & Gamble sales disappoint as price hikes slow down - CNBC https://t.co/vP0fKwskeE
P&G raises annual core profit forecast on price hikes, easing costs https://t.co/nTWvAY8MfM https://t.co/ZcEKId3YRk
Procter & Gamble Turns in Mixed Quarter as Earnings Beat but Sales Miss https://t.co/weU5WzmIE3
$PG's Jan to Mar 2024 Quarter: —Pricing: +3% —Volume: 0%. https://t.co/p5uJzbqU75 https://t.co/FojitxNX8h