- Procter & Gamble beat analysts’ expectations in its latest quarterly results
- The company warned about the impact of a strong dollar on the S&P 500
- P&G reported strong sales and resilient consumer demand
- The company raised prices by 7% for a second consecutive quarter
- P&G lowered its all-in sales forecast for fiscal 2024 due to headwinds from foreign exchange
- A stronger U.S. dollar is bad for multinational companies like P&G
- The U.S. Dollar Index has strengthened almost 7% since early July
- A stronger dollar weakens corporate profits and revenue recorded in foreign currencies
Procter & Gamble exceeded expectations in its latest quarterly results, but also issued a warning about the impact of a strong dollar on the S&P 500. Despite raising prices, P&G reported strong sales and resilient consumer demand. However, the company lowered its sales forecast for fiscal 2024 due to headwinds from foreign exchange. A stronger U.S. dollar is detrimental to multinational companies like P&G, as it weakens their profits and revenue recorded in foreign currencies. The U.S. Dollar Index has strengthened almost 7% since early July, and this trend could continue to negatively affect P&G and the S&P 500.
