Procter & Gamble Just Made a $19 Billion Promise
Investors have been bracing for a slowdown in Procter & Gamble's (NYSE: PG) business as it goes up against a prior-year period that included maximum pantry-stocking from the start of the global COVID-19 pandemic. That deceleration has arrived.
P&G said on Tuesday that organic sales gains fell to 4% through late March, or about half the rate from the prior quarter. The consumer products giant is still seeing higher demand than during the pre-pandemic era, which is good news for shareholders. But returns over the next few quarters might be more influenced by P&G's sparkling financial metrics like profitability and cash flow.
Let's take a closer look.
Source Fool.com
