Procter & Gamble shares soar as sales rise amid Covid-19 panic buying

The US-based consumer goods company has seen quarterly sales increase by 5% as consumers stockpile essentials amid lockdowns aimed at curbing the spread of the coronavirus.

Procter & Gamble (P&G) recorded a 5% increase in quarterly sales on Friday, which has sent its shares soaring in early morning trading.

The rise in the company’s third quarter (Q3) revenues comes as consumers stockpile everything from hand sanitiser to snacks amid government-imposed lockdowns aimed at limiting the spread of Covid-19.

‘The strong results we delivered this quarter are a direct reflection of the integral role our products play in meeting the daily health, hygiene and cleaning needs of consumers around the world,’ P&G Chairman, President and CEO David Taylor said in a statement.

‘Our organization has been doing a terrific job against our near-term priorities – protecting the health and safety of each other, maximizing availability of P&G products to meet heightened consumer need and helping society meet and overcome the challenges of this crisis.’

Procter & Gamble Q3 earnings: key figures

  • P&G reported net sales of $17.2 billion in Q3 2020, with core earnings per share increasing 10% to $1.17, according to its latest financial results.

  • Operating cash flow was $4.1 billion for the quarter, with free cash flow productivity of 113%.

  • P&G returned $2.8 billion of cash to shareholders through $1.9 billion in dividend payments and $900 million of common stock repurchases in the third quarter.

  • Over the last 10 years, P&G has returned over $120 billion to shareholders in cash dividends and stock repurchase.

  • Earlier this week, P&G also announced a 6% increase in its quarterly dividend.

How to trade stocks with IG

Looking to trade Procter & Gamble and other stocks? Open a live or demo account with IG and buy (long) or sell (short) the asset using derivatives like CFDs in a few easy steps:

  • Create an IG Trading Account or log in to your existing account

  • Enter ‘Procter & Gamble’ in the search bar and select it

  • Choose your position size

  • Click on ‘buy’ or ‘sell’ in the deal ticket

  • Confirm the trade

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

Please see important Research Disclaimer.

React to global volatility

Market volatility continues as coronavirus concerns amplify. Trade with IG and take advantage of:

  • Tight spreads – from just 1 point on major indices, and 2.8 on US crude
  • Guaranteed stops – they’re free to use, and only incur a fee when triggered
  • Round-the-clock assistance – our highly skilled team are available when you need support

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.


Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.