2023-08-04 05:22:00 ET
Procter & Gamble (NYSE: PG) is on a roll. Despite tough selling conditions in fiscal 2023 that included soaring costs and increasingly price-sensitive consumers, the company delivered on all of its core financial goals. Its late-July fiscal 2023 fourth-quarter earnings report did show a few dings from these demand pressures, but overall P&G demonstrated why it remains a top-tier choice for income investors.
Let's take a closer look at three factors that make Procter & Gamble's stock so attractive today.
P&G's sales results in its most recent quarter were excellent across almost every measure. Sure, shipment volumes declined, and investors would prefer to see a more balanced contribution between rising volumes and increased prices. But P&G still managed to boost non-GAAP organic sales by 8% year over year thanks to higher prices and a slight tilt toward more expensive products. The rate of volume declines slowed as well, down to 1% from 3% in the prior quarter. And the increase outpaced rival Kimberly-Clark (NYSE: KMB) and its most recent 5% year-over-year sales uptick.
For further details see:
3 Reasons Procter & Gamble Stock Is Still a Buy