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Procter & Gamble makes and sells familiar household brands such as Tide laundry detergent, Gillette razors, Crest toothpaste, and Old Spice deodorant. Like other consumer goods giants, P&G has faced a tricky balancing act: It is benefiting from rising sales in a recovering economy (it brought in $76.1 billion in revenue in its last fiscal year, a 7.3% increase from the year prior) while also striving to protect its profit margins from inflation. The company also faced a potential self-inflicted wound going into 2022: The detection of benzene, a potential carcinogen, in some of its aerosol deodorants led P&G to institute a recall in November 2021, and the problem has since prompted multiple lawsuits.
Tiffany Hagler-Geard—Bloomberg via Getty Images
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