Procter & Gamble raised its annual profit forecast on lower commodity costs and as consumers, particularly in the United States and Europe, kept buying its pricey Tide detergent and Dawn dish soap.
Even though P&G’s third-quarter net sales fell short of analysts’ expectations, the company has been able to boost its bottom line, building on the benefits from raw material prices coming down from the peaks seen during the pandemic.
The Cincinnati-based company is a bellwether for the consumer products industry. NTD speaks to Amanda O’Neill, analyst at S&P Global Ratings, for more insight.
