CINCINNATI — Procter & Gamble Co. today reported quarterly earnings that topped expectations. The CPG giant also announced an upward revision to its fiscal 2027 sales forecast to reflect recent momentum and its recent acquisition of Thorne Research Inc., a premium wellness brand whose nutritional supplements and health tech tools are used by more than seven million consumers, tens of thousands of health care professionals, more than 100 professional sports teams, and multiple U.S. national teams.
P&G posted fiscal first-quarter revenue of $23.3 billion, up 4% from a year earlier. Volume growth was up 2.4% in the period.
Diluted net earnings per share increased by 1% to $1.97. Core earnings per share increased 1% to $2, and currency-neutral core EPS was unchanged versus the prior year.
“Our solid sales, earnings and cash results in the first quarter reflect sharpened execution of our integrated strategy,” said Shailesh Jejurikar, president and chief executive officer. “We are confident in the near term and excited about the future.”
Management expects continued geopolitical and economic challenges, Jejurikar said, but “this strong start keeps us on track to deliver within our guidance ranges for organic sales growth, core EPS growth and free cash flow productivity for the fiscal year.”
First-quarter breakdown:
- Beauty segment organic sales increased five percent versus year ago. Hair Care organic sales increased mid-single digits driven by innovation-based pricing in North America and Latin America, favorable product mix and an increase in unit volume. Personal Care organic sales increased mid-single digits driven by volume growth in Greater China and Europe and favorable product mix, partially offset by trade investments. Skin Care organic sales increased mid-single digits due to favorable premium product mix and a unit volume increase in North America.
- Grooming segment organic sales increased five percent versus year ago driven by innovation-based pricing, primarily in North America and IMETA, and favorable product mix.
- Health Care segment organic sales increased three percent versus year ago. Oral Care organic sales increased low single digits driven by premium product mix and innovation-based pricing, partially offset by a unit volume decline. Personal Health Care organic sales increased low single digits due to higher pricing, primarily in North America and Latin America, and favorable product mix, partially offset by a unit volume decline.
- Fabric and Home Care segment organic sales increased five percent versus year ago. Fabric Care organic sales increased mid-single digits driven by volume increases in North America and Europe and favorable geographic mix. Home Care organic sales also increased mid-single digits driven by volume increases in North America and Europe and favorable product mix.
- Baby, Feminine and Family Care segment organic sales increased three percent versus year ago. Baby Care organic sales increased mid-single digits driven by a unit volume increase, primarily in Greater China and North America, and favorable premium product mix, partially offset by lower pricing, primarily in North America. Feminine Care organic sales increased low single digits driven by favorable product mix and innovation-based pricing, primarily in North America, partially offset by a unit volume decline in Europe. Family Care organic sales increased low single digits driven by a unit volume increase, partially offset by merchandising investments.
