Procter & Gamble's Earnings Show a Resilient Consumer Despite Price Hikes. Is the Dividend King Stock a Buy?

Procter & Gamble (NYSE: PG) just had its best day in more than six years, with the stock jumping 5.6% on Thursday after the company delivered a surprisingly strong fiscal first quarter in a challenging environment. During a time when many of its customers are struggling with inflation and a high cost of living, the household products giant reported 4% organic sales growth. That performance also represents a significant bounce from flat organic sales growth in the previous quarter, which helps explain why the stock had its best day since the market started soaring in the recovery from the pandemic crash in March 2020. Organic volume was up 2.4%, and the company delivered strong results in beauty, fabric, and home care. Overall revenue rose 4% to $23.3 billion, which topped estimates at $22.8 billion.

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