P and G Expects One Billion Dollar Profit Hit from Oil
The consumer goods giant expects rising energy costs and Middle East conflicts to impact fiscal 2027 earnings. Strong beauty sales helped beat quarterly estimates.
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PROCTER & GAMBLE CO/THE has issued a warning regarding a projected $1 billion reduction in its fiscal 2027 profits, citing the surge in global energy prices driven by ongoing conflicts in the Middle East. The consumer goods giant, known for brands like Tide and Pantene, noted that the rising cost of Brent Crude Oil, which has hovered around the $100 per barrel mark, is significantly inflating input costs for its petrol-based materials.
