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Generally speaking, the bigger the size of the company, the more difficult it is to grow. This concept was front-and-center after two major Dow components signaled to investors growing their business isn't an easy task.
Procter & Gamble
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Shares of Procter & Gamble Co (NYSE:PG) were trading lower by more than 2 percent Wednesday after the $226-billion consumer packaged goods company reported its first-quarter results — in which earnings and revenue fell short of expectations.
According to a Bloomberg report, sales during the quarter fell 1 percent year-over-year to $15.6 billion, missing the $15.7 billion analysts were expecting. The company's new CEO David Taylor attributed the revenue miss to a slowdown in overall growth, geopolitical disruptions and foreign-exchange woes.
Meanwhile, the company's products may be out of favor among consumers who don't care about branding and place an emphasis on price. For example, sales of P&G's Gillette-branded razors and blades are facing pressure from upstart rivals such as Dollar Shave Club, which was acquired by rival Unilever plc (ADR) (NYSE:UL).Overall, grooming products declined by 6 percent in the quarter with shaving products leading the way in declines.
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Revenue fell more than 7 percent to $20.976 billion, also missing the $21.34 billion analysts were expecting; Boeing delivered 169 commercial jets in the quarter, marking the fewest since the first quarter of 2014.
Looking forward, Boeing boosted its full-year 2017 earnings-per-share outlook from $9.10–$9.30 to $9.20–$9.40 per share. However, this doesn't mean the company's growth prospects and jet deliveries are expected to increase.
According to a separate Bloomberg report, Boeing's improved earnings outlook could be attributed to the better tax environment. More telling, the company didn't raise its cash outlook — a key metric for investors as orders for aircraft are fading late into the sales cycle."The stock has been a high flier for a while," George Ferguson, an analyst at Bloomberg Intelligence, said. "People clearly had high expectations and this was a middling report."
Related Links:15 Stocks To Watch For April 26, 2017Earnings Scheduled For April 26, 2017Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.