Procter & Gamble Posts Biggest One-Day Gain Since March 2020 on Steady Earnings, Adding $20 Billion in Market Value

Procter & Gamble (PG) surged Thursday in its largest single-day gain since March 2020, adding more than $20 billion in market value and closing at its highest level since February even as the broader market fell. The consumer staples maker reported 4% first-quarter revenue growth driven by higher volumes, with its fabric and cleaning segment up 5%, and reiterated its full-year guidance. CFO Andre Schulten told Yahoo Finance that "consumers are still showing up for us," enough for a market hunting for safe havens. P&G now trades at roughly 22 times forward earnings—above Microsoft (MSFT), Meta (META) and Nvidia (NVDA), whose multiple is less than two-thirds of P&G's—even though its earnings are forecast to grow at most 3% this year. Investors are paying for predictability, as demand for staples holds up regardless of the economic cycle. The rally was sector-wide: Kimberly-Clark (KMB) and Colgate-Palmolive (CL) each rose 4% to 5%, Coca-Cola (KO) closed at a record, and the Consumer Staples Select Sector SPDR ETF (XLP) notched its best 13-session streak since April 2020. Falling Treasury yields added support, though the premium leaves little room for error if markets stabilize.