Procter & Gamble broke the analysts’ estimates for quarterly earnings. Most of the revenue was generated from premium health and personal care products. The catch is that increasing commodity costs could hit it’s earnings in the upcoming year.
According to the company’s reports, the most substantial growth in its beauty and healthcare businesses is that consumers prepare to head back to the office and return to social gatherings. The revenue in the health business saw an organic climb by 14%; most of that growth came from oral care products, such as Oral B toothbrushes.
“Everybody is seeing that right now, the key will be how you deal with it,” said Chief Executive David Taylor. “While we are facing tough and higher costs going into the year, the momentum is very strong.”
The P&G shares are up less than 1% year to date and have a market cap of $341.4 billion.
