Procter & Gamble CFO Andre Schulten said consumers are responding to innovation and the underlying health of the consumer is stable, even as the company missed fourth quarter revenue expectations. P&G reported revenue of $21.2 billion, below estimates of $21.38 billion, which contributed to a dip in its stock price. Schulten noted that overall consumption growth in the U.S. is muted at 2 to 3% compared to the typical 3 to 4%, with well-off consumers showing no cash constraints while cash-constrained consumers manage paycheck to paycheck. He emphasized that both groups still love brands and innovation, and that P&G is stabilizing or growing market share as private label loses ground.
Procter & Gamble CompanyP&G missed Q4 revenue expectations ($21.2B vs $21.38B), causing stock dip.