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P&G's sales climb in Q4, but cautious on fiscal 2023 outlook
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FILE - This July 9, 2015, file photo, shows signage outside Procter & Gamble corporate headquarters in downtown Cincinnati. Procter & Gamble reports quarterly financial results, Tuesday, Jan. 26, 2016. Procter & Gamble’s sales rose 3% in the fiscal fourth quarter, Friday, July 29, 2022, but the world’s largest consumer products maker gave a lackluster fiscal 2023 sales forecast as it contends with rising commodity and freight costs. P&G’s revenue climbed to $19.52 billion from $18.9 billion during the quarter, helped by higher prices. - photo by AP Photo/John Minchillo, File
Procter & Gamble's sales rose 3% in the fiscal fourth quarter, but the world's largest consumer products maker gave a lackluster fiscal 2023 sales forecast as it contends with rising commodity and freight costs. Shares of the Cincinnati-based company dropped 5% in morning trading Friday. Like many businesses, P&G is dealing with consumers pulling back on their spending as they worry about inflation and a possible recession.