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☆ Procter & Gamble gets a price target trim, but is poised for faster growth as inflation cools
▼ + stars: | 2022-10-19 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

More importantly, it maintained its global market share, accelerated productivity savings and improved supply chain efficiencies. Fabric and home care sales of $7.08 billion, up 8% organic (versus a 6% estimate), was shy of the $7.13 billion expected. Baby, feminine and family care sales of $4.93 billion, up 6% organic (versus a 4% estimate), exceeded the $4.85 billion consensus. Feminine care organic sales were up double digits, with growth in all regions, driven by price increases and a positive geographic mix. However, the gains were partially offset by lower market volumes and soft market share.

☆ Procter & Gamble's earnings beat as higher pricing offsets drop in volume
▼ + stars: | 2022-10-19 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Procter & Gamble on Wednesday reported quarterly earnings and revenue that topped analysts' estimates as higher pricing offset lower demand for its products. But the company also said it's expecting foreign currency to hit its fiscal 2023 results more than previously expected. P&G said it's now forecasting earnings per share on the low end of its prior range of flat to up 4%. Its net sales are also expected to decline 1% to 3%, lower than its previous outlook of flat to up 2%. Net sales rose 1% to $20.61 billion, topping expectations of $20.28 billion.

☆ Stocks making the biggest moves midday: Netflix, Intuitive Surgical, Generac, Winnebago and more
▼ + stars: | 2022-10-19 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

The power company also reported preliminary third-quarter results, with earnings per share expected to come in at $1.75 compared to the $3.21 estimate. Netflix — Shares of the streaming media company soared 13.1% after the firm on Tuesday posted better-than-expected results on the top and bottom lines. Netflix also reported the addition of 2.41 million net global subscribers, more than doubling the adds the company had projected a quarter ago. Intuitive also reported growth in its da Vinci procedures of about 20% compared with the third quarter of 2021. Snap — The social media stock climbed 2.5% after Citi added a positive catalyst watch on Snap heading into its earnings results Thursday.

☆ P&G's pricing strategy saved the quarter, but the dollar's strength could ruin the year
▼ + stars: | 2022-10-19 | by ( Robert Hum | ) www.cnbc.com time to read: +3 min

The price hikes were enough to bring P & G's gross margin of 47.4% above StreetAccount estimates of 46.7%, despite the year-over-year decline. Let's take a deeper dive into P & G foreign exchange problem to better illustrate what's going on. It was a 3 percentage point headwind six months ago in P & G's third quarter and a 4 percentage point headwind in the fourth. P & G is yet another company that is indicating that analyst estimates are too high. The currency issue has basically created another headache for global companies like P & G. A big question will be whether P & G will evaluate further price hikes to mitigate the strong dollar's impact on financial performance.

☆ Here's how Dude Wipes cofounder got his startup on track to make $90 million in sales this year after making the 'biggest mistake' CPGs can make
▼ + stars: | 2022-09-26 | by ( Alex Bitter | ) www.businessinsider.com time to read: +5 min

Dude Wipes expanded into deodorant and body wash — something the brand now says was the wrong move. In 2019, the founders of Dude Wipes took what they thought was a major step forward: They extended their brand from solely toilet wipes into body wash and deodorant. So far, Dude Products has eschewed most investors. When COVID struck, demand for the brand's signature Dude Wipes took off. "When the toilet-paper rush happened, everybody's buying as many Dude Wipes as they can get from us," Riley said.

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