Procter & Gamble Stock Price, News & Analysis

Tide and the World Wildlife Fund (WWF) have partnered to promote eco-friendly laundry habits, specifically washing clothes in cold water, as a means to significantly reduce greenhouse gas emissions. This initiative aims to shift consumer behavior, making washing in cold water a social norm. The collaboration involves behavioral research conducted by the Behavioral Insights Team (BIT), identifying key strategies to motivate consumers by enhancing capability, opportunity, and motivation. Tide has set an ambitious goal for 2030, aiming for 75% of washes to be done in cold, and reports progress with consumer interest in this shift. Cold water washing can save up to 90% energy per cycle and potentially reduce energy costs by $150 annually for households. Over a decade, this initiative could lead to significant electricity savings and lower emissions, comparable to P&G's global operations.

The Procter & Gamble Company (NYSE: PG) has deployed the Tide Loads of Hope Mobile Laundry Unit to assist families affected by severe flooding in southeast Florida. This initiative, in partnership with Matthew 25: Ministries, offers free laundry services and personal care kits to residents impacted by the recent disasters. The mobile unit, operational from April 22, will provide laundry service for two loads per household, along with essential hygiene products. The floods resulted from over 25 inches of rainfall, damaging nearly a thousand homes and disrupting access to clean water. Since its inception after Hurricane Katrina, Tide Loads of Hope has aided over 90,000 people across the U.S. and Canada, with plans to expand its efforts significantly as part of Tide's commitment to climate-impacted communities.

Procter & Gamble (NYSE: PG) is initiating a voluntary recall of specific SKU of Zevo Fly, Gnat and Fruit Fly Flying Insect Killer due to potential packaging issues. The affected products, identified by lot code 3045D185EW3, were shipped on or after March 13, 2023, and were sold at Meijer and Kroger stores in the USA. The recall is a precautionary measure; the liquid inside is safe, but compromised packaging could lead to leakage or ruptures. No consumer complaints have been reported. Customers can receive reimbursements and should properly discard any impacted products. The recall affects a very limited batch, and all other Zevo products remain safe for use.

The Procter & Gamble Company (NYSE:PG) reported a strong third quarter for fiscal year 2023, with net sales of $20.1 billion, marking a 4% increase year-over-year. Organic sales rose by 7%, driven by 10% higher pricing. Diluted earnings per share (EPS) reached $1.37, up 3% compared to the previous year. Operating cash flow was $3.9 billion, and the company returned $3.6 billion to shareholders through dividends and stock repurchases. P&G raised its fiscal 2023 sales growth guidance to approximately 1% and organic sales growth to 6%, despite facing significant headwinds from foreign exchange and commodity costs, totaling an estimated $3.5 billion impact on earnings for the fiscal year.