Procter & Gamble (PG) Q1 2023 earnings


Containers of Tide detergent on grocery store shelves.

Richard Levine | Corbis | Getty Images

Procter & Gamble on Wednesday reported quarterly earnings and revenue that topped analysts’ estimates as higher pricing helped offset lower sales volume and currency headwinds.

The maker of Tide detergent, Charmin toilet paper and Pampers diapers also said it’s expecting foreign currency to hit its fiscal 2023 results more than previously expected. The company is predicting that the strong U.S. dollar will deal a $1.3 billion blow this year − up $400 million from its outlook from late July.

As a result, P&G’s expects net sales for the year to decline 1% to 3%, lower than its previous outlook of…

Source cnbc.com

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