At These Prices, Procter Is a Gamble

Procter & Gamble in its latest quarter recorded 14% organic sales growth in its fabric and home-care segment, which includes brands such as Mr. Clean.



Photo:

Daniel Acker/Bloomberg News

Procter & Gamble


PG 0.40%

reported strong results Tuesday as the pandemic continued to boost sales of consumer staples, but its shares are priced for the boom to never end.

The company on Tuesday unveiled sales and earnings that were well ahead of analyst expectations for the quarter through September. Organic sales—which strip out the effects of currency fluctuations and acquisitions—rose 9% from a year earlier, compared with 6% growth in the previous quarter.

As with U.K.-based Lysol maker

Reckitt Benckiser

—which reported results earlier Tuesday—

P&G


PG 0.40%

continues to benefit from coronavirus-driven behavioral changes. Sales were robust across the board, but especially so in the fabric and home-care segment with 14% organic

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