The Clap Procter & Gamble (NYSE: PG) exceeded analyst estimates for its Q3-2022 earnings.
Both revenues & net profits exceeded analyst expectations as price hikes in its products helped offset rising costs. P&G’s CFO said that supply chain issues & higher energy costs due to the Russia-Ukraine War “will continue to put pressure on the cost side.”
Health care products were the main drivers behind the better-than-expected earnings. Grooming & home care products sales also grew significantly, while beauty products performed the weakest.