P&G Lowers Annual Sales Growth Forecast Due to Rising Costs

Consumer goods giant Procter & Gamble (P&G) has revised its annual sales growth forecast downward as rising costs pressure profitability. The company reported that net sales in the second quarter of its fiscal year increased by 3% compared to the same period last year. However, it noted that increases in raw material and logistics expenses have narrowed operating margins. P&G now expects organic sales growth of 4% to 5% for fiscal 2024, down from its previous forecast of 5% to 6%. The company highlighted that inflationary pressures and a slowdown in consumer spending have negatively impacted sales. Analysts point out that despite P&G's efforts to offset costs through price increases, volumes have declined as consumers shift to cheaper alternatives. The company's shares edged lower in pre-market trading following the forecast revision. P&G aims to mitigate cost pressures through efficiency measures and portfolio optimization in the coming period. However, global economic uncertainties and geopolitical risks are said to pose downside risks to the company's growth outlook. This is not investment advice.

📊 GOOGL — Piyasa Yorumu

■ neutral · 60%

While the news does not have a direct impact on GOOGL, a major consumer company like P&G lowering its guidance due to cost pressures could negatively affect overall market sentiment. Technically, GOOGL is trading above its 20-day SMA with an RSI of 58, indicating a neutral zone, but it remains close to its 50-day SMA. Although the MACD is above the signal line, suggesting a positive outlook, the price's failure to break above the 50-day SMA may limit upside movement in the short term. Therefore, it would be prudent to wait for further catalysts before determining a clear direction.

RSI 14

58.1

MACD

0.74

24h Δ

5.34%

📊 PG — Piyasa Yorumu

▼ down · 70%

The news that P&G has lowered its sales growth forecast due to rising costs may be perceived as a negative signal for the company's profitability. Technical indicators support this view: the RSI is approaching oversold territory at 34.6, while the MACD is below the signal line and in negative territory. The price is trading well below the 20-day and 50-day moving averages (148.80 and 148.38, respectively) and has lost 1.25% in the last 24 hours. In the short term, selling pressure is likely to continue, although some buying on dips may occur due to the oversold condition.

RSI 14

34.6

MACD

-0.12

24h Δ

-1.25%

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P&G Lowers Annual Sales Growth Forecast Due to Rising Costs

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