Consumer

P&G Rises as Profit Outlook Helps Offset Slower Sales Growth

  • Lower commodity costs, production savings aid earnings
  • Shares, which fell last year, rise the most since March 2020
Proctor & Gamble Bounty brand paper towels.Photographer: David Paul Morris/Bloomberg

Procter & Gamble Co., the maker of Bounty paper towels and Downy fabric softener, had its biggest stock gain since March 2020 as an improved profit outlook offset slower-than-expected sales growth.

Adjusted earnings of $1.84 a share in the company’s latest quarter topped market projections, as the company benefited from lower commodity costs and production cost savings. P&G lifted its outlook for earnings, excluding some items. The key measure of organic sales, however, missed estimates.