Welcome to our dedicated page for Procter & Gamble news (Ticker: PG), a resource for investors and traders seeking the latest updates and insights on Procter & Gamble stock.
The Procter & Gamble Company reports consumer-products developments across a portfolio of household, beauty, personal care and health brands. News commonly covers product launches, limited-edition collections and marketing campaigns for brands such as Native, Secret, Olay, Metamucil, Pantene and Zevo.
Company updates also describe formula claims, retailer-exclusive assortments, category extensions and brand education in areas such as deodorant, body wash, skin care, hair care, fiber supplements and household pest control. P&G also references a broader global brand portfolio that includes Tide, Pampers, Gillette, Crest, Charmin, Dawn and Oral-B.
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.
U.S. Senator Katie Britt (R-Ala.) presented the inaugural Engage Woman Award for Non-Profit Leadership to Brooke and Breanna Bennett, co-founders of Women in Training, Inc. (WIT), at a reception in Washington, D.C. on March 28. The Bennetts received this accolade for their advocacy in establishing Alabama’s period poverty law, which allocates $200,000 for menstrual products in Title I schools. Senator Britt commended their leadership and commitment to assisting vulnerable young women. Currently, 1 in 5 girls in the U.S. miss school due to lack of menstrual products, with only 22 states having laws to provide them. The Bennetts aim for systemic change to #EndPeriodPoverty by supporting initiatives like the Menstrual Equity for All Act.
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The Procter & Gamble Company (NYSE:PG) has appointed Sheila Bonini and Rob Portman to its Board of Directors, effective immediately. Bonini is the Senior Vice President of the World Wildlife Fund, where she's worked since 2016, focusing on sustainable business strategies. Her experience includes roles at The Sustainability Consortium and McKinsey. Senator Portman, a former U.S. Senator and Trade Representative, has a notable three-decade career in public service, recognized for bipartisan legislation and expertise in trade and fiscal policy. P&G's Chairman, Jon Moeller, emphasized that their diverse backgrounds will strengthen the Board's capability to navigate challenges in a complex macroeconomic environment.
The Procter & Gamble Company (NYSE:PG) announced a quarterly dividend increase to $0.9407 per share, marking a three percent rise from the previous quarter. This dividend is payable on or after May 15, 2023 to shareholders on record by April 21, 2023. Notably, this increase represents the 67th consecutive year of dividend growth and the 133rd consecutive year of dividend payments since its incorporation in 1890. The announcement underscores P&G's commitment to return value to shareholders, particularly those relying on dividend income.
Venus has launched its first dermaplaning skincare regimen, Venus for Facial Hair & Skin Care with OLAY, featuring a cleansing primer, dermaplaning razor, and hydrating serum. This three-step routine is designed for effective and safe use, targeting women interested in dermaplaning. All products are dermatologically approved and suitable for sensitive skin. The collection also includes a mini hair remover for on-the-go touch-ups. This innovative launch highlights Venus's commitment to providing effective grooming solutions while ensuring safety and ease of use.
Secret Deodorant launches a multi-year financial empowerment initiative aimed at providing 1 million young women with access to financial courses and resources. Announced at the New York Stock Exchange on March 28, 2023, this initiative, developed in partnership with Seneca Women, focuses on alleviating financial stress, especially among women of color. By 2030, Secret aims to empower millions through enhanced financial literacy. The program includes collaboration with prominent financial experts and will utilize social media campaigns under #SecretMoneyMoves to reach its audience.