P&G CFO projects US market growth above 3% in 12-18 months
PG is trading near its 52-week low of $137.62 (2.4% above the low).
Summary
Procter & Gamble's CFO, Andre Schulten, stated that the company anticipates U.S. market growth in its categories will return to above 3% within the next 12 to 18 months, driven by innovation. This forward-looking statement provides a positive outlook on the company's operating environment. For a company of P&G's scale, a sustained 3%+ market growth rate in its core U.S. categories could significantly support future revenue and earnings, especially as the stock trades near its 52-week low.
At the time of this announcement, PG was trading at $140.94 on NYSE in the Trade & Services sector, with a market capitalization of approximately $327.9B. The 52-week trading range was $137.62 to $169.04. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.