After Three Quarters of Improving Sales, P&G Ticks up Its Full-Year Outlook; Shares Not a Bargain
We think Procter & Gamble’s third-quarter results (5% organic sales growth and a 40-basis-point increase in adjusted operating margins to about 20%) showcase the fruits of its multiyear effort to rationalize its brand mix and hone investments on its highest return opportunities. Not only did this performance mark the third quarter in a row of mid-single-digit organic sales gains, but in our view, was more favorable given the balanced contribution from price, mix, and volume improvement (to t...Procter & Gamble provides consumer packaged goods. The company's products are sold primarily through mass merchandisers, e-commerce, grocery stores, membership club stores, drug stores, department stores, distributors, wholesalers, baby stores, beauty stores, other stores and pharmacies. The company has five reportable segments: Beauty, which includes hair care, and skin and personal care products; Grooming, which includes shave care products; Health Care, which includes oral care and personal health care products; Fabric and Home Care, which includes fabric care and home care products; and Baby, Feminine and Family Care, which includes baby care, feminine care and family care products.
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