Given that the American consumer is buckling under the strain of sticky inflation and high interest rates, 

Procter & Gamble’s (PG:NYSE) organic sales growth performance and forward guidance will be closely monitored when the consumer products powerhouse posts fourth quarter earnings (30 July).

Analysts will be hanging on management’s every word pertaining to currency headwinds, input cost pressures and progress with the Cincinnati-headquartered productivity initiatives too.

Third quarter results (19 April) from Procter & Gamble, whose brands range from Gillette and Head & Shoulders to Oral-B, Pampers and Tide, revealed subdued organic growth of 3% driven by price rather than volume, with price-sensitive shoppers pulling in their horns. But strong earnings growth delivered despite in the face of multiple headwinds enabled CEO Jon Moeller to raise the group’s full year EPS (earnings per share) growth guidance and maintain its forecast for organic sales growth in the four to five per cent range. Moeller also assured investors that Procter & Gamble was ‘increasing investments in superiority to drive market growth and sustain strong momentum’.

By focusing on the sale of trusted home care, health care and beauty brands that consumers use each and every day, Procter & Gamble has notched up an amazing 68 consecutive years of uninterrupted dividend growth and returned $3.3 billion of cash to shareholders via dividends and buybacks in the third quarter alone.

US UPDATES OVER THE NEXT 7 DAYS

QUARTERLY RESULTS

26 July: Exxon Mobil, Bristol Myers Squibb, Colgate-Palmolive, Aon, Welltower, T Rowe, Franklin Resources

29 July: McDonald’s, Monolithic, ON Semiconductor, Hologic, Lows, F5 Networks, Mosaic

30 July: Procter & Gamble, Merck&Co, AMD, Caterpillar, Pfizer, S&P Global, Uber Tech, Stryker, Eaton, Arista Networks, American Tower, Mondelez, Ecolab, PayPal, Corning, Electronic Arts, Gartner, Xylem, Howmet, Global Payments, First Solar, Match Group

31 July: Meta Platforms, Mastercard, T-Mobile US, Arm, Boeing, Altria, MetLife, AIG, Verisk, Garmin, Dayforce, Etsy

1 August: Apple, Intel, ConocoPhillips, Booking, Cigna, Motorola, Air Products, Constellation Energy, Moderna, Prudential Financial, DoorDash, Hershey, Paramount Global B

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