Procter & Gamble Stock Suffers After Fourth-Quarter Sales Miss Mark

Procter & Gamble's stock plummeted on July 29th after its fourth-quarter sales fell short of Wall Street projections.

The company, which owns a vast portfolio of consumer brands including Tide and Old Spice, reported revenue of $21.20 billion for the fiscal year, slightly below the estimated $21.22 billion.

Procter & Gamble's CEO, Shailesh Jejurikar, attributed the disappointing results to a 'very challenging geopolitical and economic environment'.

The company now expects sales to rise 1% to 3% in fiscal 2027, with flat to 3% growth in adjusted earnings per share.